Counterpart

Counterpart is a US specialty insurtech and tech-enabled managing general agent focused on management and professional liability insurance for small and medium-sized businesses. Its product set includes private company directors & officers, not-for-profit D&O, employment practices liability, fiduciary liability, commercial crime, professional and general liability, allied medical and healthcare liability, architects/engineers/contractors liability, and lawyers professional liability. Coverage is placed with A-rated carrier partners; the company names Aspen Specialty Insurance Company, Evanston Insurance Company (a Markel company) and Westfield Specialty as underwriters of its products.

The company markets its offering under the trademarked banner "Agentic Insurance," a platform combining insurance staff with AI-based tooling across four described modules: Agentic Underwriting (data, workflow and pricing tools for underwriters, including a proprietary Digital Risk Score), Agentic Broker Services (submission handling and broker workflow), Agentic Risk Mitigation (policy and procedure templates and pre-claim risk guidance), and Agentic Claims Management (in-house claims handling). Counterpart describes itself as an intelligence layer working alongside existing carriers and brokers rather than replacing them, and positions rising litigation costs, AI-related legal exposures and low management/professional liability take-up among small businesses as the demand drivers for its products.

As of the April 2026 Series C announcement, Counterpart reported having processed more than 250,000 applications and written more than 35,000 policies, distributed through a broker network described as 2,800+ partners (a company underwriting page cites 3,400+ broker partners). The company also announced plans to capitalize a proprietary risk-bearing entity, Counterpart Insurance Company, to retain risk and align incentives with brokers and policyholders.

Founding story

Valor Equity Partners identifies Tanner Hackett as Counterpart's founder; he serves as CEO. Company materials frame the founding rationale as a mismatch between fast-changing business risk—more frequent and expensive lawsuits, shifting regulation, better-funded plaintiff attorneys—and an insurance industry that had not kept pace, prompting the team to combine insurance expertise with purpose-built AI starting in management and professional liability.

Business model

Counterpart operates as a tech-enabled managing general agent: it underwrites and distributes management and professional liability policies on behalf of third-party A-rated carriers (Aspen Specialty, Evanston/Markel, Westfield Specialty), while handling claims in-house. Distribution is intermediated through wholesale and retail brokers. The company has announced plans to capitalize its own risk-bearing entity, Counterpart Insurance Company, to retain a portion of the risk it writes.

Sources do not disclose specific revenue mechanics; as a managing general agent Counterpart places policies underwritten by third-party carriers and reports premium growth of nearly 175% in 2025, with plans to retain risk through its own insurance company.

Traction

Reported metrics as of April 2026: more than 250,000 applications processed, more than 35,000 policies written, a broker network of 2,800+ (3,400+ per the company's underwriting page), five capacity partners with A-rated financial strength designations (four A-rated carriers per one report), premium growth of nearly 175% in 2025, 80%+ average account retention on renewal submissions, and 94% customer satisfaction for in-house claims management and client support.

Latest developments

In April 2026 Counterpart closed a $50m Series C led by Valor Equity Partners with participation from existing investor Vy Capital, bringing total capital raised to more than $106m. Stated uses of proceeds are launching new specialty insurance products, building industry-specific programs, expanding claims and risk management capabilities, and capitalizing Counterpart Insurance Company as a proprietary risk-bearing entity. The company also announced a partnership with Westfield Specialty to launch an admitted management liability product, and added general liability to its professional liability line. It published a 2025 Small Business Insights Report.