Partnership provides small businesses with easy, real-time access to essential commercial insurance coverage
NEW YORK, NY and SEATTLE, WA – May 28, 2014 – BOLT Solutions, Inc. (www.boltinc.com), provider of the leading online sales and client support platform to the property and casualty (P&C) insurance industry, and AssureStart (www.assurestart.com), a Seattle-based startup focused exclusively on serving the insurance needs of small businesses, today announced a partnership to offer AssureStart products on Bolt’s commercial insurance platform.
The Bolt/AssureStart partnership advances the companies’ mutual goal to deliver quality small business insurance coverage over the Internet, supported by outstanding customer service. The partnership represents a significant market opportunity given the U.S. Department of Commerce’s 2012 estimate of 28 million small businesses in the U.S., 92 percent of which have fewer than four employees. This segment represents a largely untapped market as these smallest of small businesses traditionally face challenges looking for fast, easy access to commercial insurance.
The relationship with Bolt represents a new online sales channel for AssureStart to reach its target market – small businesses with fewer than 25 employees. Through AssureStart’s online interface, small business owners can get coverage recommendations and a rate quote, purchase a business owner’s policy and download a certificate of insurance, all in a matter of minutes. A business owner’s policy combines two essential coverages – general liability and business property insurance.
AssureStart currently offers business owners policies in seven states, with plans for nationwide availability by mid-2015. With Bolt’s distribution network already available in 50 states, small business owners who visit the Bolt platform can access a variety of quality carriers and commercial insurance products, whether or not AssureStart products are available in their location.
“AssureStart’s small business expertise, combined with Bolt’s distribution network and platform, provides small businesses with easy, one-stop shopping to compare, choose and purchase all the insurance coverages they need,” said Tom Hammond, executive vice president, Bolt Agency, Bolt Solutions Inc. “We’ve created a simple way for small business customers to go online, get quotes, and bind and issue their policies in as little as 10 minutes, making the business of running their business easier.”
“We’re delighted to team up with Bolt to expand our distribution reach and compete head-to-head with some of the biggest names in the insurance business. Thanks to our all-new technology and direct sales business model, AssureStart can pass along expense savings in the form of more affordable rates,” said Mike LaRocco, president and CEO of AssureStart. “By leveraging Bolt’s distribution power and relationship with small businesses, we intend to demonstrate AssureStart’s value to a growing segment of entrepreneurs.”
Based in Seattle, AssureStart is dedicated to serving the insurance needs of small businesses with fewer than 25 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 certificate of insurance at the point of sale. AssureStart serves as the managing general agent for policies underwritten by Midvale Indemnity Company, a subsidiary of Madison, Wis.-based American Family Insurance. Web: www.assurestart.com; Facebook: www.facebook.com/assurestart; Twitter: www.twitter.com/assurestart.
About BOLT Solutions Inc.
Headquartered in New York and founded in 2000, BOLT Solutions Inc. (formerly SeaPass Solutions Inc.) offers the leading online sales and client service platform for anyone who wants to sell or buy insurance online. The Bolt Platform supports all of the insurance needs of its customers, while driving market share, retention and increased revenue for its insurance industry partners. Bolt is an ICG company (Nasdaq:ICGE). For more information visit www.boltinc.com, email [email protected] or call 212-608-4646.