InsurePro
Reimagining Business Insurance
Client:
Insurepro
Scope:
1-n
Year:
Insuretech
The Cost of Complexity: Identifying Barriers in Small Business Insurance
Shopping for business insurance is a tedious and time-consuming process for small business owners, however, it is a crucial step for the success of the business. In the current market, business owners are often faced with a confusing array of forms filled with complex jargon, resulting in a single quote with an unclear price and inadequate coverage. Unfortunately, this flawed process leads to 75% of businesses being underinsured, according to Marshall & Swift/Boeckh
We aim to revolutionize the business insurance industry by designing an innovative and transparent platform that caters to customers' specific needs and preferences. By offering multiple options and utilizing machine learning, the central goal is to empower customers to make informed decisions for their business, ultimately breaking away from the outdated and standardized practices of traditional insurance companies.
Reimagining Business Insurance: A Fast, Transparent, and Guided Experience
Our innovative process centers around the customer, starting with an assessment of their unique requirements to provide tailored options that meet their needs. We provide clear explanations of the available options, detailing the factors that influence pricing to enable customers to make informed decisions. To ensure a seamless experience, our licensed sales team is available for consultation to address any questions or concerns. With our solution, customers can obtain coverage and policy documents in just 10 minutes, providing a swift and hassle-free insurance shopping experience.
Market Disruption & Results
Customer Acquisition at Scale — Designed the user experience that insured 5,000+ small business owners and generated $10M+ in written premium.
AI-Powered Personalization — Integrated machine learning to deliver tailored insurance recommendations based on individual business needs.
Industry-First Innovation — Introduced comparative shopping capabilities to the small business insurance market, fundamentally changing how customers evaluate coverage options.
Revenue Milestone — Achieved $1M in annual recurring revenue through product-led growth.