Pie Insurance focuses on protecting business owners & their enterprises

The insurance industry’s use of technology continues to evolve as carriers and policyholders become more comfortable with its implementation. The ability to accurately expedite multiple phases of the insurance process also continues to expand.

Several technology-based insurers have emerged in recent years, highlighting the benefits of tech-enabled insurance and changing some of the more traditional aspects of the insurance sales process, particularly for small businesses, which are the backbone of the U.S. economy.

John Swigart, CEO and co-founder of Pie Insurance and has over 20 years of experience in tech-enabled insurance and financial services businesses. He was named 2020 Mid-Atlantic Entrepreneur of the Year, and has been overseeing Pie since it was established in May 2017 with co-founder and president, Dax Craig.

Pie specializes in providing workers’ compensation coverage for small businesses and anticipates expanding its commercial options. By utilizing technology and the benefits it provides, the company is able to help companies assess their risk exposures, and accurately and quickly price policies.

“We founded Pie with the hope and belief that we could provide a better experience, at a lower cost of insurance, and frankly, find a better way of doing it by leveraging technology for small business customers,” shares Swigart.

Launching any new business requires significant planning and financing and launching an insurance company is a very complex undertaking. “You have to build a lot from scratch,” explains Swigart. “There are regulations and capital challenges that have to be solved,” and fortunately, his previous experience at Esurance helped them navigate those aspects of the process for Pie.

Swigart details why Pie focuses on small businesses and how their tech-based approach works in everyone’s favor. He also highlights the importance of small businesses having adequate coverage to protect their workers and the entities themselves. “We insure a broad range of businesses including restaurants, contractors and roofers,” and he believes that Pie delivers value to empower small businesses to thrive “by making insurance as easy as pie.”

For more on our conversation about leveraging technology, the types of coverage small businesses should maintain and how companies can lower their risk profiles, listen to the podcast above or subscribe to Insurance Speak on Spotify, Apple Music or Libsyn.

Join our LinkedIn group, ALM’s Small Business Adviser, a space where small business owners can gather to network, have discussions and keep up with the trends and issues affecting their industries.

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