Thimble surpasses 100,000 policies sold

New York City-based Thimble , which provides flexible liability coverage for small businesses and independent workers, has announced it has surpassed 100,000 policies sold.

“We didn’t anticipate reaching the 100,000 mark so quickly, and are thrilled to see our product resonate with so many small business owners and independent workers. This milestone represents a year of tremendous growth for Thimble under our newly-expanded product and brand, and we’re only scratching the surface of the insurance products we want to bring to market. In 2020, Thimble customers can expect a host of new offerings that will continue to advance our mission of empowering small business owners to succeed on their own terms.” – Jay Bregman, CEO and co-founder of Thimble.

According to the company’s press release, 75 percent of its customers are new to business insurance altogether and 50 percent of policies sold cover a single day or less.

A closer look at the total 107,000 policies sold:

• 17 million hours of coverage
• California, Georgia and Florida are states with most policies sold

Bottom Line: 17 million hours of coverage across 107,000 policies translates to ~6.61 days of average coverage duration.

P.S. Thimble is now available to all Appalachian Underwriters Agents.