Sayata

Sayata operates a digital marketplace that automates the process of finding and securing business insurance for small and medium-sized businesses (SMBs). Through its platform, insurance brokers can input basic business information and receive multiple tailored insurance quotes instantly, streamlining what was previously a manual, time-consuming process. The company's technology enables brokers to complete the entire quote-bind-issue process on a single platform. In April 2024, Sayata launched its AI-powered Risk Engine that helps insurance carriers and MGAs assess and underwrite risk by identifying high-risk accounts that could increase loss ratios. The company states that carriers using the Risk Engine can achieve a 10-point reduction in loss ratios. The Risk Engine features SmartExtrapolation technology that uses proprietary AI to draw conclusions when traditional data sources are insufficient, along with methodology to separate data signals from noise.

Key customers and partnerships

Sayata had over 1,000 users representing more than 100 brokerage and carrier partners as of 2021. The company works with major insurance providers including Axis, Brit, Hiscox and Tokio Marine, as well as managing general agents like At-Bay, Coalition, Cowbell and Corvus. In April 2023, Sayata partnered with At-Bay to offer their Admitted Cyber insurance product on its platform, providing coverage for small businesses with up to USD 25 million in revenue with limits up to USD 1 million. The cyber coverage is available in 48 states and Washington DC.