|By Business Wire||
|June 23, 2014 12:59 PM EDT||
AssureStart, the Seattle-based technology startup that sells general liability and property insurance to small businesses on the Internet, has expanded its service footprint to include Colorado, Missouri and Oregon. This brings to seven the number of states where AssureStart currently offers small business insurance coverage.
Formed in February 2013, AssureStart launched service in its first state, Texas, nine months later. Washington, Maryland and Pennsylvania came online in February 2014.
“With our recent rollout in Colorado, Missouri and Oregon, we are on a trajectory to cover 70 percent of the U.S. by the end of this year, and complete our national footprint by mid-2015,” said Mike LaRocco, AssureStart president and CEO. “Our online technology platform is scalable and can be updated quickly as we receive new state regulatory approvals.”
AssureStart is exclusively focused on serving the insurance needs of small businesses with one to 30 employees. By answering a few questions at www.assurestart.com, qualified small businesses can get coverage recommendations and rate quotes, purchase a business owner’s policy and download the policy and a certificate of insurance – all in less than 10 minutes. (A business owner’s policy combines general liability and business property insurance in a single contract.) With AssureStart’s efficient direct sales process, the company is able to pass along savings in the form of lower rates.
Small business owners traditionally have had to purchase their insurance through commercial insurance agents, who tend to focus on complex coverages for larger businesses and use an application process that can take several days or longer to complete. Given the relatively low premium amounts associated with their coverage requirements, businesses with fewer than 30 employees represent an underserved segment of the commercial insurance market.
AssureStart was created with these small businesses in mind. The company’s all-new, online platform is accessible 24/7 from a tablet, computer or smartphone. In a matter of minutes, the website can issue a policy and provide all supporting insurance documents in a .pdf format. This is especially helpful for new businesses that need to show proof of insurance before starting work for a client. Licensed agents are available by phone, email or web chat to answer questions at any point in the application and purchase process.
“The feedback we’ve received from customers validates our premise that small businesses want a streamlined insurance-buying experience that they can manage on their own,” said LaRocco. “They praise both the simplicity of our website and the affordability of our rates.”
AssureStart is backed by the financial strength of American Family Mutual Insurance Company, rated ‘A’ (Excellent) by A.M. Best. Policies are underwritten by Midvale Indemnity Company, an affiliate of American Family.
Over time, AssureStart intends to expand its product suite to include commercial auto and workers’ compensation insurance.
Headquartered in Seattle’s Pioneer Square district, AssureStart is dedicated to serving the insurance needs of small businesses with one to 30 employees. The company sells business owner’s policies (general liability and business property insurance coverage) direct to small businesses via its website, www.assurestart.com. The website features a proprietary, easy-to-use recommendation engine and the ability to bind coverage online and download a policy and certificate of insurance at the point of sale. AssureStart serves as the managing general agent for policies underwritten by Midvale Indemnity Company, an affiliate of Madison, Wis.-based American Family Insurance. Web: www.assurestart.com; Facebook: www.facebook.com/assurestart; Twitter: www.twitter.com/assurestart.
About American Family
American Family Insurance offers auto insurance, homeowners insurance, life insurance, business and farm/ranch insurance in 19 states. American Family is the nation’s third-largest mutual property/casualty insurance company and ranks 373rd on the Fortune 500 list. Web: www.amfam.com; Facebook: www.facebook.com/amfam; Twitter: www.twitter.com/amfam; YouTube: www.youtube.com/amfam.
Policies are underwritten by Midvale Indemnity Company, an affiliate of American Family Mutual Insurance Company, 6000 American Parkway, Madison, WI 53783.
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