Insurance Solutions, LLC
Insurance Solutions LLC (ISL) will become the premier provider of Web-based property and contents valuation software to consumers, insurance companies and their affiliated organizations/partners, mortgage and small business lenders and their customers. ISL offers two products:
IV Software. Our Web-based “Insurance Valuer” (IV) software will provide insurers with the ability to far more accurately assess risks they are insuring, allowing them to price those risks accordingly and provide enhanced services and solutions to their customers. In addition, our mortgage and small business lending clients will be able to ensure that the collateral they are using to secure their loans is properly valued and insured to minimize their financial risk should the collateral property be damaged, lost or stolen. For direct-to-consumer sales, the IV software offers an accurate and independent valuation of property, and links to insurance agencies and replacement property websites for immediate response.
Documents Plus. Provides consumers with electronic storage and retrieval of vital insurance, legal and financial documents and other information, accessible online from anywhere in the world. Our solutions will provide consumers with the peace of mind that the value of their property and contents insurance are fully covered and that their vital insurance, legal and financial documents and information is up-to-date and is safely stored and fully accessible.
The IV software has been sold to, and successfully implemented by, a number of the major insurance providers in the Australian market, providing the ISL the ability to showcase proven operations and capabilities.
The Management Team
ISL’s management has proven entrepreneurial and management skills to succeed with a rare combination of consulting and direct operational experience within the insurance and broader financial services marketplace. ISL is a privately-held Limited Liability Corporation (LLC), jointly owned by its three chief officers and an advisor, Michael Bartlett, the founder of ISL’s Australian affiliate, International Cost Research (ICR). The three managing partners are president and Chief Executive Officer (CEO), Hugh Lloyd-Thomas, Chief Operating Officer (COO) Mark Purowitz, and Chief Information and Technical Officer (CIO) Mark Metcalf. A minority stock is reserved for a fifth investor who can provide us with the additional $92,500 needed for start-up costs.
Potential customers with whom we have spoken are disappointed in our competitors’ products and have, without exception, shown significant interest in our solutions. Industry estimates, significant research, and interest on the part of potential customers have led to our projections of reaching a strong net profit in the first year. These are conservative projections, and reflect our products’ ability to assist the insurance industry to increase their premium revenues by approximately $4.7 billion per year.
The Investment Offering
Based on conservative projections, the founders intend to buy out this $92,500 start-up investment in the third year at roughly $750,000.
1.1 Keys to Success
The keys to our success will be our unique and complementary online data-retrieval systems, which fill a substantial void in the insurance market today. We will utilize our state of the art technology to:
- Closely meet the needs of each customer;
- Clearly differentiate our solutions from competitors;
- Offer superior service.
ISL will create high product visibility and consumer awareness of our solutions by a consistent and carefully targeted marketing strategy. We will establish a brand identity and leverage good client relationships to enhance credibility and encourage growth.
Successfully and profitably market our property and contents valuation software and additional solutions to insurance companies and consumers.
- Solutions marketed to insurance company clients to achieve $3.0 million in sales by Year 3.
- Web-based consumer solutions to achieve $1.5 million in sales also by Year 3.
- Provide insurers the ability to far more accurately assess risks, allowing them to price those risks accordingly and provide enhanced services and solutions to their customers.
- Give mortgage and small business lending clients the means to ensure that the collateral they are using to secure their loans is properly insured, to minimize their risk of loss should the collateral property be damaged, lost or stolen.
- Deliver peace of mind to consumers, with the assurance that the value of their property and contents insurance is fully covered and that their vital insurance, legal and financial documents and information are up-to-date, safely stored and fully accessible.