Shopping for insurance online can be frustrating, especially if it results in a long chain of email solicitations from companies.
hopes to offer a more transparent approach, explains Adam Lyons, co-founder of the startup. As the name implies, the process of shopping for insurance should be "black and white."
Insurance is the most expensive word on the Internet. Google made $33 billion on ad words last year, 24% of which came directly from insurance companies.
InsuranceZebra will allow users to instantly compare accurate and unbiased quotes from all major insurance carriers, turning it into a more streamlined process.
"We'd really like to be the Kayak for insurance, a web-based application and one-stop source for insurance quotes from all the major carriers," he says. InsuranceZebra also promises that a customer's information will remain confidential.
Lyons and his partner Cal Leeming are working together on the idea through Innovation Work's Alpha Lab on the South Side. The working arrangement is fairly unique. Leeming lives in Great Britain and is developing the software side; he previously worked on the technology behind Newstand, the iPad and iPhone app.
Lyons, who attended Allderdice High School and graduated from Temple University, is handling the business and insurance side. The two communicate regularly through Skype from Alpha Lab office.
Revenues will come from advertising. The startup plans to add three developers and roll out the website next month.
"People will see we really want to be innovative and improve the insurance market," says Adam. "For us it's about building credibility in an area where trust is very important."
Source: Adam Lyons, InsuranceZebra
Image of Adam Lyons copyright Pop City