For entrepreneurs, buying property and liability (casualty) insurance is one of those painful activities that they would rather not have to detail with. In order to learn more about the difficulties that entrepreneurs face when buying their insurance, we interviewed dozens of entrepreneurs and a few consulting CFO’s. We also tried to buy it for ourselves.
We discovered that the process was slow, confusing, and opaque. We were frequently asked to fill out and then fax paper applications to initiate the process. Agents usually promised a number of competitive quotes, but usually only produced two or three. A common suspicion with our interviewees was that insurance agents only provided quotes that paid rich commissions, no matter how beneficial the quote might have been for the buyer.
We built Zalloy to solve these problems. Zalloy is a comparison shopping site for commercial property and casualty insurance. The Zalloy platform allows a person to fill out a single online application and get timely quotes from dozens of competing insurance carriers.
Commercial property and casualty insurance covers a lot of territory, so our focus is in three key verticals: small businesses that lease office space, main street retail, and commercial real estate.
The site works very similarly to other comparison shopping sites. The buyer fills out a short application form and then submits it. Once the application is submitted, the system connects to partner sites, gets the quotes, and then presents them to the buyer in a matrix that makes it easy to compare the results. To make the process easier, we offer live chat and telephone support throughout the entire process.
For small businesses, insurance is an essential part of protecting assets and ensuring business continuity. The insurance buying process has historically been extremely difficult. At Zalloy, we hope to change that by providing an easy-to-use comparison shopping site.
Introducing Zalloy: The Comparison Shopping Site for Commercial Property & Casualty Insurance
+1 NOW it’s starting to get interesting. #CRETech