Insurtech startup Pie Insurance gets $4.3 million seed funding
Pie Insurance, a direct distribution workers’ compensation insurtech company, closed a $4.3 million seed round led by Sirius Group, Moxley holdings, and Elefund. The company’s Price Predictor tool is the first of its kind to assess the range that small and medium enterprises (SMEs) should pay for insurance and the market average from just a few data points.
Pie Insurance’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 premiums and sale to Allstate for $1 billion in 2011.
Joel Moxley, General Partner with Moxley Holdings, said he believes Pie can become a meaningful player in the $100 billion SME insurance market.