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Our client offers the ability for customers (and/or insurance agents) to use a website to enter a customer’s information to get real-time personalized quotes for auto and homeowner insurance policies (from multiple independent insurance carriers as appointments allow). These quotes can be presented on the website for a follow through by insurance agents to bind the policy later. There are several companies which accomplished this capability (e.g. Gabi, Zebra, Jerry) by investing tens of millions of dollars. Otherwise, what is available to regular insurance agencies currently are cookie-cutter form and rating functionalities which are not possible to modify according to agencies’ needs.
Depending on the acquirer’s future business case, the capabilities our client developed can be used within weeks.
The founding team established partnerships to allow its own sales as an independent insurance brokerage, and developed the initial phase of back-end capabilities to get quotes online for auto and homeowner policies. Capabilities developed that can be worth for other companies (available to view via demo):
1. Online rating for auto and home policies. Our client developed the platform to capture full information from customers for auto and home policies, and get a quote for them for the insurance companies partnered with, and present these quotes online.
2. Besides these integrations, our client developed 2 Personalization engines, which can serve as differentiated customer-facing features, and address some of the existing customer pain points of buying insurance in the marketplace today.
3. Our client established partnerships to enable operations as an independent and technology-based insurance brokerage.
a. Appointments: Our client has appointments with some of the largest insurance companies in the nation.
Our client owns all code, processes, and websites which they will transfer in full to a buyer. The full tech stack and hosting will be disclosed under NDA.
Our client’s “ready to go” web site, tech, IP and insurance industry relationships will enable a buyer to scale further and immediately.
NDA is required to secure comprehensive Confidential Information Memorandum (CIM) crafted by broker.
Growth & Expansion: The auto and home owner market is huge and many billions of dollars in current sales--is projected to keep expanding. The Web site and structure will allow the buyer to tap into this market via the Web and virtually overnight.
Financing: Sellers do not wish to provide financing.
Support & Training: As needed – specific terms for transition support can be negotiated. The Seller wishes to facilitate a successful and smooth transfer of the Business.
Reason for Selling: Other business interests.
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Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness. This listing does not constitute an offer to sell, solicit or make an offer to buy an investment interest. Offers to sell, or the solicitation of offers to buy, any security can only be made through official offering documents, such as a subscription agreement and private placement memorandum.