Pie Insurance said it has begun providing workers’ compensation insurance to small businesses in Mississippi, New Hampshire, Utah and West Virginia. With these additions, Pie now offers coverage in 29 states and the District of Columbia.
In June, Pie Insurance started doing business in Delaware, Indiana, Nevada, South Carolina and Virginia. It also added five new states in January and four in February.
The managing general agency said it expects to be in all states by the end of 2019.
“With our exclusive focus on small businesses, Pie is reaching a community that had previously been underserved,” claims CEO and co-founder, John Swigart. Before launching Pie, Swigart was part of the executive team that led Esurance from a start-up to a $1.3 billion in premium online agency.
A digital insurance startup that sold its first policy in 2018, Pie sells directly to business owners, offering an easy online quote process and flexible payment plans. It promises it can save small businesses as much as 30% by tailoring coverage to their needs.
Pie is an MGA for Sirius American Insurance Co.
In March, the start-up completed a $45 million Series B funding round. Participating investors included SVB Capital, Sirius Group, Greycroft, Moxley Holdings, Aspect Ventures, and Elefund. Last August, Pie raised $11 million. To date, Pie has raised $61 million.
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