Cake Insure

About Cake Insure

Cake Insure operates as a digital-first insurance platform with a specialized focus on the workers' compensation market for small businesses. The company was established in September 2017 as a for-profit subsidiary of Pinnacol Assurance, a major workers' compensation carrier in Colorado. The initial concept was developed within Pinnacol starting in November 2016 under an internal project named "Destiny," which aimed to create a streamlined digital insurance service. This initiative culminated in the full launch of the Cake Insure platform by January 2018.

The company's primary business is marketing, selling, and servicing workers' compensation insurance policies, which are underwritten by its parent company, Pinnacol Assurance. This strategic relationship allows Cake Insure to function as the distribution and service arm while Pinnacol carries the insurance risk. The business model targets small businesses, particularly those with annual premiums below $10,000 that are not classified as high-risk. Revenue is generated through the sale and servicing of these insurance policies. The platform is designed for efficiency, enabling clients to secure a quote in approximately 90 seconds and obtain coverage in under five minutes.

Rob Norris, who previously served in executive roles at Pinnacol for two decades, including Chief Strategy Officer and CIO, is the CEO of Cake Insure. His background in corporate strategy, technology development, and process optimization at Pinnacol was instrumental in envisioning and launching the digital-first platform. The platform itself provides a comprehensive, mobile-first experience where business owners can buy and manage their policies, get proof of insurance, make payments, and process claims online. A key feature is a complimentary report that allows businesses to compare their coverage against similar organizations, facilitating more informed decisions. Initially focused on the Colorado market, the firm has aimed to provide nationwide coverage for growing businesses.