ImpactAlpha, October 16 – The founders of Verify picked a niche demographic when they launched the insurance company in 2016: drone pilots. Last year they shifted focus to a much larger opportunity, launching insurance products for contractual and part-time workers, who make up more than one third of the U.S. workforce.
Their company, now operating as Thimble, offers job-by-job liability insurance policies for workers in 100 different professions including handymen, landscapers, beauticians and dog walkers. Its policies cost as little as $5 and can extend for an hour at a time if necessary.
Thimble expects to sell 100,000 policies by year’s end. Seventy-five percent of its policyholders are first time business policy buyers.
AC, Slow Ventures, AXA Venture Partners, and Open Ocean have backed the company’s $22 million Series A round.