DENVER, Oct. 20, 2020 /PRNewswire/ -- Pie Insurance, an insurtech specializing in workers' comp insurance for small businesses, announced it now offers coverage in 36 states and Washington DC with today's expansion of service to Florida and Wisconsin.
Workers' comp insurance is required for nearly all small businesses with employees to safeguard them from work-related illnesses and injuries, but the traditional insurance experience is often complex and expensive. With Pie Insurance, small businesses in Florida and Wisconsin can save up to 30% by getting a quote in 3 minutes on Pie's website or by asking their insurance agent for a quote from Pie. Pie makes it easy for insurance agents in those states to serve their small business clients by auto-deciding 73% of class codes through the partner portal.
"In today's economic climate, saving time and money is more critical than ever before," said John Swigart, co-founder and CEO of Pie Insurance. "With this expansion, we're enabling Florida's 450,000 small businesses and Wisconsin's 100,000 to access affordable and simple workers' comp insurance."
Today's expansion follows the company's recent announcement that it exceeded $100 million in cumulative written premium and surpassed $100 million in annualized run rate premium in less than 3.5 years since founding the business. These milestones further Pie's position as a leading insurtech serving small businesses.
About Pie Insurance Pie Insurance is modernizing small business insurance, starting with workers' comp, by automating the entire coverage experience. Pie combines innovative technology, sophisticated analytics, and industry expertise to provide small businesses and the partner agents who serve them with simple, trusted, and affordable coverage. Compared to traditional insurance, Pie's use of advanced analytics enables quotes in 3 minutes and savings of up to 30% for small businesses. Pie auto-decides 73% of class codes so partner agents can save time finding coverage for their clients. Since launch, Pie has grown its gross written premium to over $100M and partnered with over 1,000 agencies. Founded in 2017 by a team of insurance and technology veterans, the company is headquartered in Denver, CO and Washington, DC. Pie operates as a managing general agency for Sirius America Insurance Company, a subsidiary of Sirius Group, offering A.M. Best A- (Excellent) rated workers' comp insurance, and has received $188M in funding from investors including SVB Capital, Gallatin Point Capital, Greycroft, Aspect Ventures, Sirius Group, Moxley Holdings, and Elefund.