Pie Insurance Holdings, Inc.

Pie Insurance Holdings, Inc. is a US-based insurtech company specializing in small business insurance solutions, primarily focusing on workers' compensation and commercial auto insurance, utilizing technology to enhance customer service. Founded in 2017 and headquartered in Washington, US, Pie Insurance Holdings, Inc. provides innovative insurance solutions for small businesses.

The company has successfully completed 6 funding deals, with its most recent Series D funding round in September 2022, raising USD 315. 00 mn from investors including Centerbridge Partners and Allianz X. The co-founders, Dax Craig and John Swigart, have a history of building successful ventures in the insurance sector. Pie Insurance specializes in providing small business insurance solutions, particularly focusing on workers' compensation and commercial auto insurance.

Their core offering utilizes data-driven technology to simplify the insurance application process, allowing clients to receive quotes in approximately three minutes and potentially save up to 30% on their workers' compensation insurance. The company primarily targets small business owners across 38 states and Washington, D. C. , addressing their needs for affordable and accessible insurance coverage.

By streamlining the quote process through an online platform, Pie Insurance enhances customer experience and meets the requirements of various industries, including those in the hospitality and service sectors. The firm's advanced underwriting practices and competitive pricing model aim to deliver excellent coverage tailored to the specific risks faced by small businesses. Pie Insurance generates revenue through the sale and administration of insurance policies, particularly in the workers' compensation and commercial auto segments. The revenue model is structured around direct-to-consumer transactions, where small business clients purchase customized insurance coverage through their online platform.

Each client engages in a straightforward process: they input their business details, receive a tailored quote, and complete the purchase of the desired policy. By leveraging technology, Pie Insurance facilitates efficient policy management and claims processing, contributing to customer retention and satisfaction. The company’s focus on competitive pricing and user-friendly access allows it to effectively compete in the small business insurance market, although specific pricing plans and revenue figures are not disclosed. In September 2022, Pie Insurance Holdings, Inc.

raised USD 315. 00 mn in Series D funding, co-led by Centerbridge Partners and Allianz X, aimed at expanding into new lines of business and supporting the development of its algorithms. The company plans to develop new insurance products tailored for small businesses and expand its operations into additional geographic markets in the US by 2023, leveraging the recent capital infusion to enhance its technological capabilities and underwriting processes.