Coterie Insurance

Coterie Insurance is a U. S. -based company that provides innovative small business insurance solutions, streamlining the insurance process for agents and brokers to enhance client services. Founded in 2018 and headquartered in Cincinnati, US, Coterie Insurance specializes in offering insurance solutions for small businesses.

The company was established by Chiretta Martin-Beard, David McFarland, Kevin Mackey, Rebecca van de Sande, and Tim Metzner. David McFarland currently serves as CEO. In March 2024, Coterie Insurance raised USD 27. 00 mn in a GROWTH funding round, involving new investor Hiscox, with participation from returning investors Intact Ventures, Weatherford Capital, and RPM Ventures.

This round marked the total funding raised by the company to USD 27. 00 mn over a total of 6 deals. Coterie Insurance specializes in providing small business insurance solutions designed to streamline the insurance process for agents, brokers, and their clients. The company's core offerings include Commercial Insurance, Business Owners Policies (BOP), General Liability Insurance, Professional Liability Insurance, Cyber Insurance, Workplace Violence Insurance Coverage, and Employment Practices Liability (EPL).

These products address the unique needs of small, new, and home-based businesses, ensuring tailored coverage without the extensive delays often associated with traditional insurance processes. Coterie's platform allows agents to obtain instant bindable quotes and simplifies the underwriting process, enabling businesses to secure necessary coverage in a fraction of the time typically required. The company serves a diverse clientele across various geographical markets, including the United States, focusing on empowering local insurance agents to facilitate better insurance solutions for their clients. Coterie Insurance operates primarily on a B2B model, partnering with insurance agents and brokers to deliver its suite of products to small businesses.

Agents utilize Coterie’s platform to quote, underwrite, and bind coverage for their clients, facilitating a smooth and efficient purchasing experience. Specific pricing plans for individual products are not detailed; however, the company’s offerings are designed to be competitive within the small business insurance market, allowing agents to provide their clients with attractive options. The revenue model is anchored in the commissions and fees associated with insurance transactions processed through their platform, reflecting Coterie's commitment to simplifying the insurance experience while fostering strong relationships with agents and brokers. In March 2024, Coterie Insurance raised USD 27.

00 mn in growth funding to develop its products and expand its insurance offerings. The company plans to introduce new product lines tailored for the evolving needs of small businesses. Specific markets targeted for expansion have not been disclosed, but the funding will support these initiatives and drive the company's growth strategies moving forward.