Today’s issue of WorkCompRecap interestingly features the second dessert-related company launch of the week (see:Cake), with the launch announcement from InsureTech startup “Pie” Insurance, a digital direct-distribution workers’ comp insurance business.
The initial offering is an interactive Price Predictor tool that aims to give SMBs improved insight into their workers’ comp insurance rates. The tool is powered by Pie’s own algorithms and Valen Analytics’ InsureRight platform and data consortium. In 2018, Pie will begin offering its own A.M. Best “A” rated insurance policies. The company also announced that it just closed its $4.3 million Seed Round of funding. Pie’s co-founder and CEO is John Swigart, who was part of the executive team that led Esurance from start-up to $1.3 billion in premium and sale to Allstate for $1 billion in 2011.
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