insurtech 28/January/2019

Insurtech News > Workers’ Compensation Insurtech Pie Insurance Enters 5 Additional States

Online seller Pie Insurance has started offering its workers compensation insurance in five more states, bringing the total to 14.

The Washington, D.C.-based managing general agent disclosed it has begun marketing its policies to small businesses in New York, Michigan, Pennsylvania, Maryland and Nebraska. That’s on top of existing approvals in Arizona, California, Colorado, Georgia, Illinois, Louisiana, North Carolina, Tennessee and Texas.

The tech-drive company’s system relies on predictive analytics and datasets to digitize the buying of workers compensation insurance, which it pitches as saving small business owners up to 30 percent in the process.

In 2017, Pie attracted $4.3 million in seed funding from Sirius Group, Moxley Holdings and Elefund. In 2018, Greycroft and Aspect Ventures joined existing investors to bolster geographic expansion and scale operations as part of Pie’s $11 million Series A Funding round.

Pie operates as a managing general agency for Sirius America Insurance Co., a subsidiary of Sirius Group, offering A.M. Best “A”-rated workers compensation insurance.