Counterpart

Counterpart is a Los Angeles-based managing general agent for US small and mid-market management and professional liability. It was founded in 2020 by Tanner Hackett and launched publicly in March 2021 in partnership with Markel, writing Directors & Officers, Employment Practices, Fiduciary, Crime and, later, Miscellaneous Professional Liability, General Liability, Allied Healthcare Professional Liability and Architects & Engineers coverages.

What Counterpart actually is. This is not software a carrier buys. Counterpart is an MGA: it originates, underwrites and services policies on paper issued by licensed carrier partners, and sells through wholesale and retail brokers. The "Agentic Insurance" tooling — AI-driven submission intake, underwriting and claims — lives inside Counterpart's own book and broker portal. A carrier looking for an underwriting workstation to license cannot license Counterpart; it can only cede capacity to the program.

Capacity and carrier partners. Counterpart's products are underwritten by Evanston Insurance Company (a Markel company, A XV), Aspen Specialty Insurance Company (A XV) and Westfield Specialty (A XV). Markel was the original capacity partner from the March 2021 launch. Aspen was added in May 2022 to expand the surplus-lines book, and later became the capacity partner for the Miscellaneous Professional Liability and General Liability extensions. Westfield Specialty came on in June 2024 to provide an admitted product for nonprofits and SMBs. Company statements in late 2025 describe "five A-rated capacity partners" backing the book, though only Markel, Aspen and Westfield are named publicly.

Funding. Cumulative disclosed equity funding is approximately $40M. Counterpart raised a $10M Series A in March 2021 led by Valor Equity Partners with Susa Ventures and Felicis Ventures, and a $30M Series B in March 2022 led by Vy Capital with Valor and Felicis participating. No Series C has been announced as of April 2026.

What the AI does. Counterpart's public positioning since March 2025 centers on "Agentic Insurance" — LLM and agent-based systems for submission ingestion, risk classification, quoting, policy servicing and first-notice-of-loss triage for management liability. The company claims the system combines underwriting judgment with structured small-business risk data (HR compliance signals, litigation history, financial indicators) to price D&O, EPL and MPL risk that traditional carriers treat as too small to manually underwrite. Counterpart also bundles a separate HR compliance and legal service, zeroHR, as a risk-mitigation layer on EPL policies.

Traction. Counterpart disclosed 10,000 bound policies in December 2024 and 35,000 policies with premium up ~175% year-over-year in its late-2025 leadership update. Inside P&C named the program "Underwriting Innovation of the Year" in 2023 and CB Insights placed it on the 2024 Top 50 Insurtech list. No specific named broker or insured accounts appear in primary Counterpart press materials reviewed here — customer identification in small-business MGA programs typically stays with the broker of record.

Analyst gap. No Gartner, Celent, Forrester or Novarica coverage of Counterpart surfaced in public search. Third-party validation is trade press (TechCrunch, Carrier Management, The Insurer, Insurance Journal, Business Insurance, Inside P&C) plus vendor-curated lists (CB Insights, Business Insurance) rather than independent analyst quadrants.