Pie Insurance Secures A- Excellent Credit Ratings from AM Best and Completes Transition to a Rated, Full-Stack Carrier

Printed: Feb. 2, 2023 at 11:05 AM EST

Corporation also announces acquisition of a nationally accredited insurance policies business

DENVER, Feb. 2, 2023 /PRNewswire/ — Pie Coverage (“Pie”), a major tech-enabled provider of workers’ payment coverage to smaller organizations, right now declared that Pie Coverage Group has secured a Monetary Strength Rating of A- (Excellent) and a Lengthy-Term Issuer Credit Score of “a-” (Exceptional) from AM Best, a worldwide credit score rating agency, information publisher and information analytics provider specializing in the insurance plan market.

“Receiving A- Exceptional credit rating ratings from AM Greatest sets us up for good results as we satisfy our lengthy-expression tactic of becoming a technologies driven, whole-stack specialty provider that has comprehensive handle more than the coverage working experience,” reported John Swigart, co-founder and CEO of Pie. “AM Greatest is the premiere authority on the financial security of insurance policies organizations and their validation encourages the utmost confidence in our capacity to serve our impartial agency companions and small business clients across the country.”

In addition, productive January 1, 2023, the company acquired a nationally accredited coverage firm that has been renamed The Pie Insurance Business.

With this acquisition and AM Finest score, in addition to Pie’s 2021 acquisition of Pie Casualty Insurance policy Corporation, and funds infusion from Pie’s recent $315M Collection D funding round, Pie has now concluded its changeover to a rated, full-stack provider. Pie will start off issuing its possess insurance plan guidelines afterwards this year.

Given that its founding in 2017, Pie has served as a running typical agent (MGA) for SiriusPoint America Coverage Corporation. Pie also just lately announced its enlargement into professional auto insurance coverage and will start out serving as an MGA for Ford Motor Credit Business later this yr with the launch of Ford Pro Insure.

About Pie Coverage

Pie Insurance coverage is leveraging technologies to rework how little firms acquire and expertise industrial insurance policies, with the objective of creating it reasonably priced and as easy as pie. Pie’s intense concentrate on granular, complex pricing, and data-pushed purchaser segmentation permits Pie to match value with danger accurately throughout a wide spectrum of small organization styles, which allows Pie to offer you additional cost-effective insurance plan to small organization entrepreneurs. Due to the fact 2017, Pie has obtained about $615M in funding and partnered with above 2,800 companies nationwide.

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