Coterie, a U.S.-based commercial insurtech, recently announced it has formed a new partnership with Intuit QuickBooks to deliver business insurance to QuickBooks customers through the QuickBooks Online small business platform. This news comes right now after Intuit Quickbook announced its collaboration with Next Insurance.
Coterie reported that the integration presents small businesses with a purchase process, getting personalized business insurance to business owners in just minutes. While speaking about the partnership, David McFarland, CEO and Co-Founder of Coterie, stated:
“With data-driven systems, we’re able to provide extremely accurate insurance protection for small businesses using QuickBooks. This unique offering takes the guesswork out of the entire process for millions of small business owners across the country.”
Mauricio Comi, Head of SMB Insurance at Intuit, also explained:
“Working with tech-focused companies like Coterie helps us to further serve small businesses and keep them focused on what’s important: growing their businesses. Customers now have the opportunity to access more of the tools required to help run their businesses that extend beyond our core offerings.”
Founded in 2018, Coterie offers API-based commercial insurance for “today’s workforce.” The company claims that it works through the tools users already use to make buying, changing, and renewing insurance easy, as well as time and money-saving.
“Coterie was founded to modernize commercial insurance. The way business gets done is rapidly evolving, but insurance to protect those businesses, isn’t. Coterie is changing that by providing new insurance products, sold in new ways, through new technology.”
Coterie recently secured $8.5 million through its Series A funding round, which was led by RPM Ventures with participation from Allos Ventures, Western & Southern, Intercept Ventures, Frontier Venture Capital, and Sure Ventures. The company previously raised $3.15 million and the latest investment brings the company’s total venture funding to $11.65 million.