Insureon Small Business Institute to Furnish Quarterly Analytics of Micro Business Insurance Market

October 9, 2013

 

New project offers real-time data and analytics to guide small-business owners through risk management and insurance-buying decisions.

CHICAGO—October 9, 2013—Insureon, the nation's premier online agent for small-business insurance, today announced the launch of the Insureon Small Business Institute (ISBI). The institute harnesses the power of insureon's massive micro business databank to provide small-business owners with information on pricing trends, claims patterns, and online insurance distribution.

"The ISBI is a manifestation of our commitment to serving the small-business owners who are the invisible growth engine of the freelance economy," said Ted Devine, insureon's CEO. "Too often, they have to make crucial decisions in an information vacuum." He noted that the ISBI's analytics will show business owners what their peers are experiencing. Such data can inform strategic decisions about which types of insurance to purchase and from whom.

Jesse Prestwood-Taylor, insureon's data scientist, will head the ISBI. "We have deep insight into the entire world of small-business insurance," said Prestwood-Taylor. "By mining price fluctuations, claims reports, and customer shopping habits, we can produce a dynamic picture of how insurance is evolving for micro businesses." That picture, he noted, illustrates trends that can facilitate risk management decisions for business owners across the dozens of industries insureon serves.

Next week, the ISBI will release its initial quarterly report, detailing pricing and claims patterns, customer buying behavior, and online distribution trends in the micro business insurance space.

"Since 1997, we've served more than 200,000 customers," said Devine. "Through the ISBI, we've found a way to translate the wealth of information we have into valuable data points that can guide the 23 million hardworking small-business owners in the U.S. through the most complex business decisions they have to make."

Business owners interested in applying ISBI findings to fuel their growth can find more information and the institute's latest reports at insureon.com/insureonu/research.

 

About insureon

Insureon, the nation's leading online small business insurance agency, specializes in serving the fast-growing micro-business sector. Insureon allows micro businesses to apply online for insurance and receive quotes from leading carriers, completing in minutes a process that could otherwise take a week or longer. For more information, visit insureon's website.