Loop Insurance is working on a fix

Loop’s website is no longer offering car insurance quotes in Texas and instead redirects users to a broken page, whether accessed via the website or mobile app.

Loop Insurance , which has raised over $34 million from investors including Freestyle VC, Foundry Group, and 01A, launched its car insurance offering in Texas in 2021 but soon faced challenges, including multiple rounds of layoffs. In the summer of 2024, the company laid off ~23 employees, with the co-founders attributing the cuts to unsuccessful fundraising efforts.

Loop acts as an appointed agent of Redpoint County Mutual Insurance, writing $18.1 million in direct written premiums (DWP) for Redpoint in 2023, up from $4.3 million in 2022. The company crossed 10,000 members in March 2023 and primarily offers non-standard coverage.

Insights from Ben Nickerson’s LinkedIn profile suggest a shift to a B2B2C strategy to stabilize customer acquisition costs (CAC). The company began working with agents in 2023 when it introduced the ‘Partner Agents’ program, described as “the first-ever equity-upside program for independent agents.”