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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
IndustryInsurance
Founded2011
HeadquartersChicago
Key people
Dan Kazan (CEO)
Jean Deninger(COO)
ProductsErrors & Omissions Insurance, Liability Insurance, Cyber Insurance, Commercial Property Insurance, Workers' Compensation Insurance, General Liability Insurance
Number of employees
101 - 200
ParentBin Insurance Holdings, LLC
Websiteinsureon.com

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.

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]

Insureon made several key hires in the first quarter of 2019, including CEO Dan Kazan, who joined the company and its Board of Directors from Rewards Network. Kazan succeeds company co-founder and previous CEO Ted Devine, who led the company since it was founded in 2011. [12] Insureon also hired COO Jeana Deninger, who joined the company after several years in leadership positions at insurtech company CoverHound.[13]

ReferencesEdit

  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. [1], Insureon Lays off employees, 17 June 2016.
  12. ^ Communications, Community Contributor Walker Sands. "Insureon Welcomes Dan Kazan as New Chief Executive Officer". chicagotribune.com. Retrieved 2019-04-09.
  13. ^ March 15, Denny Jacob |; AM, 2019 at 05:30. "People on the move in the P&C insurance industry: March 15, 2019". PropertyCasualty360. Retrieved 2019-04-09.