Coterie Insurance was founded in 2018 by Kevin Mackey, David McFarland, and Tim Metzner to modernize small-business commercial insurance — a market long underserved by slow, manual quoting and fragmented distribution. Small businesses often wait days for a quote and struggle to find appropriate coverage, while agents shoulder heavy administrative work. Coterie's answer is an API-first, AI-driven platform that can generate accurate, customized commercial P&C quotes in under 60 seconds, compared with an industry average of two to three days.
The platform underwrites and prices coverage using AI and data, then exposes that capability through APIs so agents, brokers, and embedded partners can quote and bind directly within their own workflows. Coterie focuses on core small-business lines — general liability, business owner's policy (BOP), and professional liability — and continues to invest in AI-driven underwriting and servicing to widen its appetite and improve accuracy. By making quoting nearly instantaneous and integration straightforward, Coterie helps distribution partners serve more small businesses with less friction.
Coterie serves the large and fragmented small-to-mid-size business insurance market through a partner-centric model rather than selling only direct to consumers. Its embedded and API-first approach makes it attractive to agencies, digital platforms, and other businesses that want to offer commercial insurance without building underwriting in-house. This positions Coterie as infrastructure for small-business insurance distribution as much as a carrier-facing MGA.
Coterie has raised roughly $99 million across multiple rounds. It announced a $27 million oversubscribed growth round in March 2024, and its later financing brought in strategic insurance backers including Hiscox and Allianz X alongside investors such as Intact Ventures, Weatherford Capital, RPM Ventures, Alpha Edison, and Group 1001. The capital supports continued investment in AI-driven underwriting and servicing and expansion of its small-business insurance platform.