Portfolio · 05 / 08
Pell
Underwriting infrastructure for the long tail of small commercial insurance.
Pell underwrites the long tail of small commercial insurance—coffee shops, contractors, hairdressers, fleets of three or four vehicles. These are the policies that small carriers and MGAs have historically lost money on, because the cost of underwriting them properly was higher than the premium would support.
Pell rebuilt that part of the underwriting stack from scratch. The product pulls submission data from broker portals, fills in the rest from a careful set of external sources, and presents an underwriter with a complete picture of the risk in seconds. Carriers using Pell have lifted their bind rates without lifting their loss ratios.
We led Pell's seed in 2022 and remain the only institutional investor.
Product
From the Pell portfolio file.
By the numbers
- Carriers
- 9
- Median quote time
- 11s
- Lift in bind rate
- +34%
From the file
“The policies small carriers historically lost money on, underwritten in seconds.”
Visit
Opens Pell in a new tab.