Coterie Insurance, a US-based InsurTech specialising in small business coverage, has received a strategic equity investment from Allianz X, the digital investment arm of Allianz Group.
The deal forms part of Coterie’s Series C round, led by Allianz X, and includes plans to deepen collaboration with Allianz Reinsurance, the reinsurance business of Allianz Group, according to InsurTech Insights. Allianz Re has already been serving as a reinsurer for Coterie since 2023.
Coterie provides technology-driven insurance solutions that allow brokers and agents to write policies for small and micro-businesses efficiently. The platform targets a segment that is both attractive and challenging, offering small business coverage with strong operational leverage.
The strategic equity investment will support the company’s growth and enable further development of AI-driven underwriting and servicing capabilities. Coterie intends to leverage these tools to uncover new opportunities in the micro-commercial insurance market while ensuring long-term sustainability.
The agreement also signals an expansion of Allianz’s role, with Allianz Reinsurance set to provide additional reinsurance capacity to support Coterie’s ambitions.
Allianz X chief investment officer and managing director North America Alexander De Kegel said, “Coterie has an exceptional platform for the SMB insurance market, a segment that is both attractive and challenging. This deal demonstrates Allianz X’s ongoing commitment to the segment and the opportunities within it, as well as marking the beginning of the next phase of Coterie’s growth.”
Coterie CEO and founder David McFarland said, “We enable agents and brokers to profitably write and service small and micro commercial accounts with strong operating leverage to ensure long-term viability. By investing in AI-driven underwriting and servicing, we’re uncovering new and bigger opportunities every day. Our relationship with Allianz X will help us continue to build and advance in the micro-commercial space.”
Allianz Reinsurance CEO Holger Tewes-Kampelmann said, “We have been consistently impressed by Coterie’s exceptional growth and strong underwriting performance. We are excited to expand our reinsurance relationship with them, providing the necessary capacity to support their ambitious goals.”
Prior to this strategic equity investment, Coterie had raised nearly $100m in previous funding rounds.
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