Insureon

Insureon
Industry Insurance
Founded 2011
Headquarters Chicago
Key people
 Ted Devine (CEO)
Jeff Somers (President)
Products Errors & Omissions Insurance, Liability Insurance, Commercial Property Insurance, Workers' Compensation Insurance, General Liability Insurance
Number of employees
 101 - 250
Parent Bin Insurance Holdings, LLC
Website insureon.com

Insureon is an online insurance agency headquartered in Chicago. Launched in 2011, Insureon built a FinTech platform that gives small-business owners access to property and casualty insurance quotes from multiple carriers[1] and allows them to manage their policies.[2]

Insureon has been cited as a company shaping the InsurTech market[3][4] because its digital platform allows small-business owners direct access to insurance quotes, providing an alternative to traditional brick-and-mortar agencies.[5]

In 2013, UFC Fighter Ronda Rousey appeared in a promotional video for Insureon,[6] playing the character of the Insureon Protector. These video were quickly removed from all social media concerning Insureon.

In October 2015, Insureon received a $31 million private investment[7] led by Oak HC/FT, a venture capitalist firm specializing in financial technology companies. The company was also backed by Accretive LLC as part of a Series A funding in 2010.[8]

In 2015, Insureon placed $150 million in premium and was the third fastest growing private insurance company in the United States with a three-year growth of 1,742% and one of the fastest growing companies in Chicago.[9]

On March 15, 2016, Insureon launched its first national television campaign during March Madness.[10]

On June 17, 2016 Insureon laid off 8% of its staff, which was 20 employees at the time. The cuts come eight months after the company raised $31 million in funding. [11]

References

  1. ↑ Voelker, Michael. "Online Agency Targets Small Businesses", Property Casualty 360, 27 August 2012. Retrieved on 10 June 2016.
  2. ↑ Arthofer, Whitney. "Insurance brokerage is broken", TechCrunch, 5 May 2016. Retrieved on 14 June 2016.
  3. ↑ Carpenter, John. “Insureon, Beefing Up Its Tech, Aims To Disrupt Small Biz Insurance From The Inside Out”, Forbes, 18 July 2016.
  4. ↑ Sarzen, Jay. "Disruption in P&C Insurance Distribution", Aite Group, 25 February 2016. Retrieved on 10 June 2016.
  5. ↑ Malhotra, Ravi. "How new entrants to insurance distribution are owning the customer experience", Accenture, 9 December 2016. Retrieved on 28 June 2016.
  6. ↑ Griffore, Ryan. "Ronda Rousey’s new Insureon Commercial", Armbar Nation, 3 September 2013. Retrieved on 10 June 2016.
  7. ↑ Graham, Meg. "Insureon rakes in $31 million to expand tech platform", Chicago Tribune, 21 October 2015. Retrieved on 10 June 2016.
  8. ↑ https://www.crunchbase.com/organization/insureon#/entity "Insureon | CrunchBase." CrunchBase. Retrieved on 10 June 2016.
  9. ↑ Godfrey, Elaine. "Here Are the 10 Fastest-Growing Companies in Chicago", Inc. (magazine), 8 August 2015. Retrieved on 14 June 2016.
  10. ↑ Dallke, Jim. "Why This Chicago Tech Company Is Launching Its 1st National TV Ad During March Madness", Chicago Inno, 16 March 2016. Retrieved on 10 June 2016.
  11. ↑ Amina Elahi. , Insureon Lays off employees, 17 June 2016.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.