InsuranceNoodle.com Targets Arkansas Small Businesses
by February 5, 2001 12:00 am 88 views
Arkansas’ small businesses now have access to several big names in insurance. Chicago-based InsuranceNoodle, found at www.insurancenoodle.com, recently received a license to sell small-business-related insurance in Arkansas. Policies for worker’s compensation, medical bills and liability are all available on the site.
The site will impact Arkansas’ business insurance in three ways, said co-founder and president Richard Madock. First, existing agencies or agents that already carry several insurance names can offer their clients, among others, American International Group, Kemper Insurance Co. and Zurich U.S., policies through InsuranceNoodle. The agents outline their clients’ needs, and InsuranceNoodle returns a list of possible coverage to the agents within 24 hours.
Second, new agents can sign up with the site to offer the name brands, and third, small-business owners can purchase the insurance directly from the site.
Arkansas is the 32nd state to license InsuranceNoodle, and Madock said the company should be operating in every state but Texas and Hawaii by the end of March.
Launched in October of last year, the company grossed about $500,000 in 2000, Madock said, and start-up funds for the business topped $10 million. Currently, about 400 agents are contracted or training for InsuranceNoodle.