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InsuranceIsland has the largest number of public records for
your insurance underwriting and Risk Management
Yes, you
have a Choice
with InsuranceIsland
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PRESS RELEASE: InsuranceIsland.com Moves into Solon
Office Space
June 15,
2001 – Cleveland, Ohio – Amid
Internet Company Failures, Solon-based InsuranceIsland
is Claiming Success! InsuranceIsland, a solution
provider for Independent agents and carriers, has just
purchased a 5000-square foot office space on Bruce
Industrial Parkway. Madhavan Chakravarthi, CEO, said,
"We are positioning for the implementation of a call
center and computer center that will service carriers
and agents nationwide."
InsuranceIsland was formed by the founders of
2M Associates,
an Information Technology consulting firm located in
Cleveland. 2M has been serving the insurance and health
care companies for over ten years. In addition,
InsuranceIsland principal consultants have over 30 years
of combined insurance experience.
"Every
insurance carrier faces the same challenge - how to
improve the process of quoting and rating a policy
through independent agents. Independent agents deal with
multiple carriers and have to use carrier specific
systems to process a policy," said Malan Chakravarthi,
COO of InsuranceIsland. "Our aggressive marketing plan
calls for the addition of Marketing Executives, sales
personnel and a call center, thereby adding 50 people
before next June."
InsuranceIsland just demonstrated the power of
technology and its sophisticated product, QUILT, at the
recent ACORD conference held in Orlando, FL. "We are
continuing this momentum and will be presenting at the
Independent Insurance Agents of America IIAA Conference
in Hawaii Oct 27-30, 2001," Mr. Chakravarthi added.
The company
has an incentive program so that every one of its
management team can go to Hawaii. Everybody here goes to
Hawaii for a vacation if the sales goals are met. The
entire staff has the sales goals in front of them and
the Hawaii theme has already set in with four more
months to go.
"The last
ten years have seen the evolution of Insurance carriers
deploying websites with the intent to sell insurance to
customers online," quoted Madhavan Chakravarthi, former
Manager of Progressive Insurance and CEO of
InsuranceIsland.
However,
only 2% of all insurance sold in the U.S. in 1999 was
bought over the Internet. Consumers spend a great deal
of time conducting research over the Internet, but are
still reluctant to purchase insurance off the Web.
Instead, they prefer to call an agent armed with all the
information that they have collected.
InsuranceIsland is a product and service for insurance
agents and carriers providing unparalleled optimization
to rate and issue policies on-line and real time.
InsuranceIsland provides an array of
services
to agents and carriers.
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