News Members in the
SOCIETY INSURANCE PARTNERS WITH LOCAL RESTAURANTS TO FEED HEALTHCARE WORKERS AND FAMILIES IN NEED
Austin, TX (February 22, 2021) - In response to the devastating winter storm that left thousands of Austinite’s without power, food and water, Wisconsin-based Society Insurance, which launches in the Austin market later this year, partnered with several locally-owned restaurants over the weekend to donate more than 1,200 prepared meals to healthcare workers and families in need. With the assistance of the incredible teams at P. Terry’s, Taco Deli, Santa Rita Cantina and TacoShack, Society was able to purchase and distribute these meals to St. David’s Medical Center,Ascension Seton Medical Center and SAFE Alliance shelters. “Our team feels incredibly fortunate that we could support the Austin community at such a critical time,”said Rick Parks, Society Insurance president & CEO. “Working alongside these beloved Austin restaurants, we were able to provide a warm, comforting meal to those who needed it most. We are proud to join this wonderful community.” Society Insurance launches in the Texas market later this year and is recognized as an industry leader in providing superior restaurant and bar insurance coverage specifically tailored to the unique operations of each business. To find out how Society can help your business, visit www.societyinsurance.com/texas. ABOUT SOCIETY INSURANCE: Headquartered in Fond du Lac, Wis., Society Insurance has been a leading niche insurance carrier since 1915. As a mutual insurance company, Society focuses on the small details that make a big difference to its policyholders while offering top-notch insurance coverage, service and competitive pricing to businesses in Colorado, Illinois, Indiana, Iowa, Minnesota, Tennessee and Wisconsin. Visit www.societyinsurance.com to learn more.
32 | MAY 2021 |
wisconsin INDEPENDENT AGENT
PIE INSURANCE IS BUILDING THE FUTURE OF SMALL BUSINESS INSURANCE WITH $118 MILLION IN SERIES C FUNDING Led by Allianz X and Acrew Capital, the round will enable further innovation, new business offerings, and rapid expansion Denver, CO (March 25, 2021) - Pie Insurance, an insurtech specializing in workers’ comp insurance for small businesses, today announced the completion of a $118 million Series C funding round. Investors Allianz X and Acrew Capital led the round, and existing investors Greycroft, SVB Capital, SiriusPoint, Elefund, and Moxley Holdings also participated in the round. Pie Insurance was built on a foundation of data and advanced analytics that power its entire coverage experience for small businesses. Today’s investment will enable Pie to invest further in technology and automation, as well as to grow its core workers’ comp insurance business, and lay the groundwork for new business offerings in 2021 and beyond. “Commercial insurance is long overdue for the online transformation that personal lines have benefited from for years,” said John Swigart, Co-founder and CEO of Pie Insurance. “Now more than ever, small businesses deserve to be supported, not hindered, by their insurance company. Pie is leading the charge in building a more affordable and modern insurance experience, and today’s funding enables us to expand our operations and invest in technology and tools that will have an immediate impact on our customers and partners.” “Pie is fundamentally transforming the commercial property and casualty insurance market in the U.S.,” said Dr. Nazim Cetin, CEO of Allianz X. “Using pioneering technology, Pie has revolutionized the customer experience, ensuring that a previously-lengthy process has become more efficient for everyone involved. The company has enormous growth potential far beyond its current core business. For Allianz, there are plenty of opportunities for cooperation with Pie, for example, in the joint development and sale of insurance solutions. We also see collaboration potential with some of our other B2B portfolio companies.” “In less than four years, Pie has become one of the fastest growing insurtechs in the country, and we’re thrilled to partner with a team that has a passion for improving small business insurance through technology,” said Lauren Kolodny, Founding Partner at Acrew Capital. “Pie’s impact on small businesses has been incredible to watch, and we believe they are one of the most compelling companies in insurance today.” This funding round follows Pie’s $127 million Series B extension round in May 2020, in which it formed Pie Carrier Holdings with a $100 million equity capital commitment to create and purchase licensed insurance companies.
