A small business owner sits down after a long day to buy workers compensation coverage online. It’s 11:00 p.m. on a Tuesday, or maybe it’s a Sunday evening. Either way, it isn’t within normal business hours when she finally finds time to get the task crossed off her to-do list.

Executive Summary

Pie Insurance is meeting small business owners on their own time, with workers compensation insurance quotes available online when agents aren't—in some cases providing access to affordable comp coverage for the first time and making the process easy to understand. CEO John Swigart explains why small commercial is a perfect target for InsurTechs.

She’s accustomed to shopping online for household items, clothing and car insurance, so she expects her workers comp purchase to be a straightforward online transaction. While the lack of a digital insurance experience may be the norm for some, Gen Xers and millennials are expected to own 60 percent of small businesses by 2020 (according to estimates by Morgan Stanley and BCG estimates published in 2016).

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