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Experimentation with different distribution models has become common in the insurance industry, driven by technological advances and increasing customer expectations. Policyholders are no longer satisfied with the fragmented and complex sales funnel of the insurance industry, which often includes carriers identifyingtheir agent partners as the “customer.”

Most individuals expect Amazon-esque simplicity wherever and whenever they wish to purchase products, insurance included. However, the insurance industry encounters significant challenges because distribution includes considerably more than front-end adjustments to meet these expectations. Truly overhauling distribution includes streamlining quoting, claims, billing, and the interrelationships between workers in those separate departments.

As such, there are a number of companies and technologies tackling distribution in different ways, and at different points of the process. One approach is to utilize  analytics predictive models to better align price to risk, so commercial lines insurers can send significantly more policies through straight-through processing, as opposed to being stuck on the desk of an underwriter. Another is to build policyholder and agency portals that make it easier for everyone to get access to information when they need it, and how they wish to receive it.

One insurance company in particular is at the forefront of simplifying complete distribution to provide a frictionless customer experience. Pie Insurance, who recently announced 11M in Series A funding, offers fast, fair and transparent pricing for small business workers’ comp insurance, usings an ensemble of leading technology to achieve this goal. Insurity provides a significant portion of Pie’s technology stack and we’re excited to congratulate our partner on their latest accomplishment.

Looking at Pie’s organization make-up is surprising to many insurers. They are an insurance company that can price, quote, bind and service policies almost entirely with agents, actuaries, underwriters or adjusters. As the definition of what makes an insurer expands, and so do distribution methods that embody those changes, the success of a technology company should be judged on creating insurance platforms that can been iterated at a moment’s notice and adapt to shifting need of their customers that simply don’t exist yet. Insurity has already taken steps toward this path so we can be a leader in supporting the changing nature of the insurance organization.