Insureon, an online agency that traditionally had served small commercial customers only, is moving into homeowners insurance with the help of Instec technology.
Instec's policy administration system will power Insureon's coastal homeowners coverage as both companies take on personal lines for the first time.
“Launching a new product always carries with it some risk and uncertainty, so we also needed a cost structure that would let us start small and scale up as the business proves itself," said Ralph Blust, president of Insureon subsidiary Insurance Noodle. "Instec was the only vendor that satisfied both criteria.”
Instec beat out 10 other vendors in the RFP process, the companies said.
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