Coterie Insurance Agency Market Research Report
Company Overview
Name
Coterie Insurance
Mission
To provide uncomplicated small business insurance, making commercial insurance easy for agents and brokers by employing data and technology to benefit insurance professionals and policyholders.
Founded
2018
Founders
No information is available.
Key People
No information is available.
Headquarters
Cincinnati, Ohio
Number of Employees
No information is available.
Revenue
No information is available.
What is the Company Known For
Coterie is known for transforming the small business insurance market by using digital tools to simplify the insurance process, making it possible to provide instant bindable quotes and prefill applications with data-backed underwriting.
Products
Overview
Coterie offers multiple insurance products including General Liability Insurance, Business Owners Policies (BOP), and Professional Liability (PL) Insurance, specifically designed to meet the needs of small, new, and home-based businesses.
General Liability Insurance
General Liability is the most common insurance form for small businesses, protecting against claims of bodily injury or property damage to third parties.
Key Features:
- Protects against bodily injury and property damage claims.
- Helps pay for medical expenses and attorney fees.
- Required by landlords, financial institutions, and industry regulations.
Business Owners Policies (BOP)
A versatile policy that bundles different types of insurance coverages into one, protecting both the business and the owner's property.
Key Features:
- Combines General Liability and Property Insurance.
- Covers damage to personal property.
- Provides business income coverage.
- Ideal for businesses operating out of physical locations and having tangible assets.
Professional Liability Insurance (PL) / Errors and Omissions
Designed for service-based professions, covering failures to uphold contractual promises.
Key Features:
- Insures the work carried out and the advice given by professionals.
- Covers the cost of lawsuits and awarded damages related to incomplete, inadequate, or delayed services.
- Crucial for attorneys, accountants, architects, engineers, designers, photographers, financial advisers, and real estate agents.
Recent Developments
Products and Features
1. Instant Business Insurance
- As of September 25, 2024, Coterie has enabled instant business insurance in collaboration with BTIS.
2. Awards and Recognition
- Recognized as the "Best Insurtech Company" in the Fintech Breakthrough Awards (March 13, 2024).
- Named in Business Insurance’s Annual Best Places to Work in Insurance for the fourth consecutive year (September 2, 2024).
3. Funding and Growth
- Secured $27 million in oversubscribed growth capital funding (March 18, 2024).
4. Partnerships
- Partnered with Five Sigma to create long-term value for small businesses (October 30, 2023).
New Features Added
No information is available.
New Partnerships
- Partnership with Five Sigma announced on October 30, 2023.
- Enabled instant business insurance through a collaboration with BTIS (September 25, 2024).
This professionally detailed market research report provides a comprehensive overview of Coterie Insurance Agency, covering all relevant aspects from company information to recent developments, focusing strictly on data provided. For any missing information, the report has specified "No information is available."
