Bunker

What Bunker does

Bunker Protect, Inc. (DBA Bunker and Build Bunker Insurance Services) is a private commercial insurance agency founded in 2015 and headquartered in Madison, Wisconsin, that distributes small business and specialty commercial insurance through a digital-first platform. The company serves 22,000+ clients across verticals including contractors and construction, IT and technology, healthcare, dental and medical practices, restaurants and food service, trucking, retail, professional services, and gig economy platforms, offering a broad product portfolio that spans General Liability, Professional Liability/E&O, Business Owners Policy, Workers Compensation, Commercial Auto, Commercial Umbrella, Cyber Liability, D&O, EPLI, Builders Risk, Equipment Floater/Inland Marine, Cargo, Liquor Liability, Commercial Trucking, Business Interruption, Product Liability, Errors and Omissions, Bonds, Disability, and Mechanical Breakdown coverage.

The platform combines a self-serve online quote portal (5-10 minute bindable quotes with save-and-continue functionality) and a Client Center portal for policy administration, certificate of insurance management, subcontractor COI tracking, and claims, complemented by agent-assisted support via phone, email, chat, and text. Its most differentiated product is Usage Based Insurance (UBI), co-developed exclusively with Chubb, which enables gig economy platforms to provide hourly-priced short-term coverage (3-16 month terms) to independent contractors at $0.30/hour, with claims of reducing corporate Workers Compensation costs by up to 75% and accelerating onboarding by up to 25%.

Bunker earns revenue through carrier commissions on traditional policies (annual billing, quote-based pricing) and usage-based premiums on UBI (monthly billing in arrears), with entry pricing starting at $21/month on installment plans. Distribution runs through a multi-carrier network (Chubb, Hiscox, The Hartford, Markel, CFC, Coalition, Great American, Progressive, Philadelphia Insurance Companies, Coterie) and gig-economy channel partnerships via terms-of-service integration. The company reports a 98% client retention rate, 4.4/5 Trustpilot score across 809 reviews, 94% customer satisfaction, and has raised approximately $8M in disclosed venture funding across 2016-2018 rounds led by Comcast Ventures, Route 66 Ventures, and Omidyar Network.

Name

Bunker

Legal name

Bunker Protect, Inc.

Website

https://buildbunker.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Bunker Protect, Inc. is a digital-first commercial insurance agency serving 22,000+ small businesses and gig economy platforms with traditional commercial coverages and a Chubb-co-developed Usage Based Insurance product, distributed via a ten-carrier network across multiple verticals.

Ownership category

akta.pro rank

Product category

Commercial Insurance Brokerage

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

akta.pro secondary industries

Small Business BOP (Main Street) (FSAJAFAA), Contractors BOP / Artisan Package (FSAJAFAD), Commercial Package / Business Owners Policies (BOP) (FSAJAMAG), Technology / IT Services BOP (FSAJAFAK), Restaurants, Bars & Food Service BOP (FSAJAFAG)

Keywords

• Commercial insurance brokerage
• Usage-based insurance
• Small business coverage
• Contractor insurance
• Gig economy insurance

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Technology or R&D, Operations, Infrastructure

Revenue model

1. Insurance Brokerage/Agency Commissions: Bunker operates as an insurance agency/broker, earning commissions from insurance carrier partnerships. They work with multiple national insurance companies including Chubb, Hiscox, The Hartford, Markel, CFC, Coalition, Great American, Progressive, Philadelphia Insurance Companies, and Coterie to provide coverage options to small businesses.
2. Usage Based Insurance Premiums: Usage-based insurance model where premiums are calculated based on actual usage (hours worked, miles driven). Workers pay from $0.30/hour with monthly billing in arrears. Policies can be purchased for 3-16 months terms.
3. Traditional Insurance Policies: Commission-based revenue from traditional commercial insurance policies including General Liability, Workers Comp, Commercial Auto, Professional Liability, Property, and other coverages for small businesses.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Bunker is a commercial insurance agency selling a full portfolio of business insurance products (General Liability, Workers Comp, Professional Liability/E&O, Commercial Auto, Property, Cyber, BOP, Builders Risk, Commercial Trucking, etc.) to small and mid-sized businesses, contractors, and gig economy platforms. It distributes these coverages through a digital self-serve quoting platform and Client Center portal, working with ten-plus national carriers. Its flagship is a Usage Based Insurance product co-developed with Chubb that lets gig economy platforms enroll independent workers at $0.30/hour for short-term coverage matched to contract length.

Product overview

Bunker is a business insurance agency offering a comprehensive portfolio of commercial insurance products primarily targeting small to medium-sized businesses, freelancers, contractors, and gig economy firms. The company provides both core traditional insurance products (General Liability, Professional Liability/E&O, Business Owners Policy, Commercial Property, Workers Compensation, Commercial Auto, Commercial Umbrella, Builders Risk, Equipment Floater/Inland Marine) and innovative offerings like Usage Based Insurance developed in partnership with Chubb. Bunker's product portfolio includes industry-specific coverages (Cyber Liability, Directors & Officers, EPLI, Liquor Liability, Cargo, Commercial Trucking, Business Interruption, Product Liability) as well as supplementary products (Bonds, Disability Insurance, Mechanical Breakdown). The company operates a digital-first model with an online quote portal and client portal for policy management, enabling bindable insurance quotes and proof of insurance delivery. Bunker serves diverse industries including construction, IT/technology, healthcare, real estate, restaurants, retail, and professional services.

Differentiator

Problem solved

Functional benefit

Products and services

• General Liability Insurance Coverage for third-party bodily injury, property damage, and advertising injury claims arising from business premises or operations; for small businesses and contractors.
• Professional Liability Insurance (E&O) Covers financial losses to clients from business mistakes, negligence, missed deadlines, scope disputes, or unsatisfactory work; legal defense and claims settlements included. For consultants, lawyers, and professional services firms.
• Business Owners Policy (BOP) Bundled package combining Property, Commercial General Liability, Crime Insurance, products and completed operations, premises liability, and business income insurance for small businesses.
• Commercial Property Insurance Covers commercial buildings, contents, computers, money, valuable papers, lost income, and business interruption against fire, burglary, and vandalism.
• Workers Compensation Insurance State-mandated coverage for lost wages, medical treatment, and recovery services resulting from an employee's work-related injury or illness.
• Commercial Auto Insurance Liability, comprehensive, collision, uninsured/underinsured motorist, and medical payments coverage for company cars, cargo vans, limos, taxis, buses, SUVs, and pickup trucks used for business.
• Commercial Umbrella Insurance Up to $10 million of additional coverage beyond underlying policy limits for bodily injury, property damage, and personal injury claims.
• Builders Risk Insurance Course-of-construction coverage for buildings being constructed or heavily remodeled against fire, wind, theft, lightning, hail, explosion, vandalism, and vehicle/aircraft damage; available in 3, 6, or 12-month terms.
• Equipment Floater / Inland Marine Insurance Coverage for tools, equipment, transported goods, hauled equipment, storage items, and construction tools against accidents, theft, vandalism, or total loss.
• Usage Based Insurance (UBI) Short-term per-hour workers' coverage (Occupational Accident, Hired Non-Owned Auto, General Liability) co-developed exclusively with Chubb for gig economy platforms; workers pay from $0.30/hour, billed monthly in arrears, with 3-16 month terms matched to contract length and API-free terms-of-service integration.
• Cyber Liability Insurance Covers liability for data breaches involving Social Security numbers, credit card numbers, account numbers, driver's license numbers, and medical records; includes legal fees, identity restoration, breach notification, and system repair. For IT/technology and data-handling businesses.
• Directors & Officers (D&O) Insurance Protects individuals from personal losses if sued while serving as a director or officer of a business; covers legal fees and defense costs the organization may incur.
• Employment Practices Liability Insurance (EPLI) Coverage against employee claims including sexual harassment, discrimination, wrongful termination, breach of employment contract, negligent evaluation, and wrongful discipline.
• Cargo Insurance Coverage for goods in transit for manufacturers, importers, exporters, commodity traders, and logistics companies, including domestic transit, warehouse, storage, exhibition, processing, and consolidation risks.
• Commercial Trucking Insurance Specialized coverage for commercial trucks and trailers including primary liability up to $5M, physical damage, cargo up to $250K, truckers general liability up to $10M, and occupational accident for owner-operators.
• Business Interruption Insurance Covers lost income and continuing operating expenses when a business must vacate premises due to disaster-related property damage covered under property insurance.
• Liquor Liability Insurance Covers businesses selling intoxicating beverages against injuries or damages caused by intoxicated patrons, including legal defense and litigation costs.
• Bonds Surety bonds including lost title bonds, contract surety bonds for construction industry contractors, and license/permit bonds for contractors, taxes, environmental compliance, brokers, motor vehicle dealers, and ERISA.
• Disability Insurance Pays 50-70% of income if an individual cannot work due to injury or illness, supporting standard of living and bill coverage during disability.
• Mechanical Breakdown Insurance Covers lost income and liability from mechanical breakdowns in business equipment and vehicles, including faulty machinery and injuries caused by equipment failures.
• Product Liability Insurance Covers legal obligations for products manufactured or sold, including court fees, legal defense costs, personal injury awards, and out-of-court settlements when products cause harm to users.
• Errors and Omissions Insurance Coverage for mistakes, negligence, or discrepancies in business accounting records; reimburses claims, damages, defense costs, and protection against employee, temporary staff, and contractor mistakes.
• Commercial Package Insurance Customizable package allowing businesses to select individual coverage components (BOP, commercial auto, business personal property, umbrella, and specialized industry coverages) rather than pre-bundled options.

Quantifiable outcome

• Gig economy platforms can reduce corporate Workers Compensation costs by 75%
• +4 more outcomes

Named customers8 records

Segments10 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

Ten partnerships are on record, tiered core.

• ChubbcoreTechnology or IntegrationChubb is a key strategic partner for Bunker's Usage Based Insurance (UBI) product - a one-of-a-kind insurance solution developed exclusively with Chubb for gig economy platforms. Chubb is a global insurer with over $150 billion in assets backing this product.
• HiscoxcoreTechnology or IntegrationHiscox is one of the nation's largest, most reputable insurance companies that Bunker works with to provide coverage options for small businesses.
• The HartfordcoreTechnology or IntegrationThe Hartford is one of the nation's largest, most reputable insurance companies that Bunker works with to provide coverage options for small businesses.
• MarkelcoreTechnology or IntegrationMarkel is one of the nation's largest, most reputable insurance companies that Bunker works with to provide coverage options for small businesses.
• CFCcoreTechnology or IntegrationCFC is one of the nation's largest, most reputable insurance companies that Bunker works with to provide coverage options for small businesses.
• CoalitioncoreTechnology or IntegrationCoalition is one of the nation's largest, most reputable insurance companies that Bunker works with to provide coverage options for small businesses, particularly cyber liability.
• Great AmericancoreTechnology or IntegrationGreat American is one of the nation's largest, most reputable insurance companies that Bunker works with to provide coverage options for small businesses.
• ProgressivecoreTechnology or IntegrationProgressive is one of the nation's largest, most reputable insurance companies that Bunker works with to provide coverage options for small businesses.
• Philadelphia Insurance CompaniescoreTechnology or IntegrationPhiladelphia Insurance Companies is one of the nation's largest, most reputable insurance companies that Bunker works with to provide coverage options for small businesses.
• CoteriecoreTechnology or IntegrationCoterie is one of the nation's largest, most reputable insurance companies that Bunker works with to provide coverage options for small businesses.

Scale indicators6 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Next Insurance: Digital-first SMB commercial insurance carrier and agency serving contractors, small businesses, and gig workers with bindable online quotes — directly comparable product, customer segment, and GTM motion to Bunker.
• CoverWallet: Online commercial insurance brokerage for SMBs offering multiple coverage lines with instant quoting; acquired by Hiscox — a Bunker carrier partner — making it both a direct competitor and a carrier-side channel conflict.
• Insureon: Online commercial insurance marketplace focused on small business owners, with strong emphasis on contractors and professional services — overlapping customer base and product set with Bunker's SMB verticals.
• Thimble: On-demand, short-term commercial insurance for freelancers, contractors, and small businesses — the closest direct competitor to Bunker's Usage Based Insurance model for the gig and contractor economy.
• Simply Business: Digital commercial insurance broker for small businesses and self-employed professionals, offering bindable online quotes across multiple commercial lines — directly comparable to Bunker's SMB agency model.
• Coterie Insurance: API-driven small business commercial insurance platform providing bindable quotes in minutes for SMBs — comparable digital agency model and overlapping Bunker carrier panel and target segments.

Broad incumbents

• Hiscox Insurance: Global specialty insurer that both provides capacity to Bunker and runs its own direct SMB digital channel (including CoverWallet) — an incumbent carrier that overlaps with Bunker's product catalog and customer base.
• Progressive Commercial: Major commercial auto and trucking carrier with a direct SMB digital channel — overlaps directly with Bunker's commercial auto, trucking, and BOP offerings, and is also a Bunker carrier partner.
• Chubb: Global P&C carrier that underwrites Bunker's UBI product (with over $150B in assets) and provides capacity across multiple commercial lines — both a strategic partner and a structural risk as a carrier capable of going direct.

Emerging players

• Bold Penguin: Commercial insurance marketplace and underwriting workflow platform for SMBs and agents — comparable in enabling digital SMB commercial insurance placement, though focused on the agent/broker side of the funnel.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/BunkerHQ
• YouTubeyoutube.com/channel/UCkGvBKq69TbnMVh40X9s1VA
• Facebookfacebook.com/buildbunker
• LinkedInlinkedin.com/company/bunker-ventures
• Instagraminstagram.com/buildbunker
• TikToktiktok.com/t/ZTL5UFsA5

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds3 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bunker