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InsureHiTech
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Transforming
a "Bricks and Mortar" Insurance Brokerage
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Client
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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. |
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Challenges
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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. |
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Create the company's idea for a more efficient online process for
selling insurance, InsureHiTech (IHT) - the first "clicks and mortar"
insurance agency. |
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Strategies
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Build
a proprietary operating platform that automates transactions among
buyers, sellers and insurers. |
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Create
a vehicle that matches buyers with offers from competing insurance
carriers. |
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Add
capabilities to the site that enhance the online user's experience
(e.g. news, customer service center, etc.). |
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Solutions
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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.
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Integrated
various service capabilities crucial to the insurance industry, such
as: |
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Around-the-clock access to a broad range of insurance
products.
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Around-the-clock access to quotes from the best insurance
carriers.
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Customer care center.
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Efficient online handling of policies and claims.
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Streaming news feeds.
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Online seminars, hosted by carriers.
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Results
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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. |
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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. |
