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Sengen builds bridges between business strategy and operational technology solutions, delivering measurable results.
Home > Client Results > Case Studies > InsureHiTech (IHT)
InsureHiTech (IHT) 
- Transforming a “Bricks and Mortar” Insurance Brokerage 
Client
InsureHiTech is the first of several niche insurance portals to be launched by Insurance Revolution, Inc., a 130-year old "bricks and mortar" insurance agency.
Challenges

Help an "old economy" industry overcome a traditionally inefficient "offline" workflow. In short, Insurance Revolution, Inc. found that the existing process of conducting business between the buyer, seller, and insurer was too time consuming, paper intensive, and costly.

 

Create the company's idea for a more efficient online process for selling insurance, InsureHiTech - the first "clicks and mortar" insurance agency.
Strategies
Build a proprietary operating platform that automates transactions among buyers, sellers and insurers.

 

Create a vehicle that matches buyers with offers from competing insurance carriers.

 

Add capabilities to the site that enhance the online users experience (e.g. news, customer service center, etc.).
Solutions
Created a unique, online portal that allows users to submit a quote request, which is filtered through IHT.com's database. IHT.com then reviews and communicates this information to multiple insurance carriers who return the best quotes through IHT.com. By using ACORD-based, XML standards Sengen was able to cut out the translation and time constraints that usually plague the turn-around process from quote to policy.

 

Integrated various service capabilities crucial to the insurance industry, such as:

  • Around-the-clock access to a broad range of insurance products.
  • Around-the-clock access to quotes from the best insurance carriers.
  • Customer care center.
  • Efficient online handling of policies and claims.
  • Streaming news feeds.
  • Online seminars, hosted by carriers.
Results
Created a revolutionary Web-based sales and service insurance brokerage for InsureHiTech.com. Distinctive in the insurance landscape, IHT has since become the standard for the entire industry.

 

Since creation of the site and operating platform, InsureHiTech has received $10 million in funding from JP Morgan, and has established partnerships with such leading carriers as AIG, St. Paul, Kemper, and Chubb.