Coterie, an insurtech Managing General Agent (MGA) based in Cincinnati, Ohio, has secured million in Growth funding. The funding round was led by Hiscox, along with participation from existing investors Intact Ventures, Weatherford Capital, and RPM Ventures, among others.
The company plans to utilize the funds to enhance its business reach. Under the leadership of CEO David McFarland, Coterie Insurance operates nationwide, including Washington D.C. The company provides independent agents and brokers with the ability to quickly underwrite small business insurance policies, thanks to its data-driven underwriting process. This allows for accurate pricing and a seamless submission-to-bind experience for clients.
Having raised a total of over 2 million in funding so far, Coterie has seen significant growth in revenue, exceeding 200% in 2023. Additionally, in 2023, the company expanded its reinsurance panel by adding two top-rated reinsurance markets, each with at least an A rating from S&P Global.
Coterie’s continued success and expansion showcase its commitment to simplifying small business insurance and providing efficient solutions for independent agents and brokers.
