Each month, we profile a Connecticut small business, highlighting the creativity and innovation that drives the state’s economy. In August, we spoke with InsureGood, based in Hartford.
When was your company founded?
How many employees work for your company?
Who are your customers?
Professional services companies have between 10 and 150 employees.
We have strong expertise and experience working with financial services and data and analytics firms (such as CPA’s, wealth managers, and actuaries), marketing firms, and technology firms. See the article : Intellect partners with MSIG Hong Kong to provide holistic mental health support to its policyholders.
What makes your company unique?
We combine technical expertise with risk management and insurance services to provide our clients with comprehensive programs that protect and grow their profits. See the article : CVS Health increases full-year forecast after beating second quarter expectations.
Our proprietary Business360 process uses a variety of techniques to identify, measure, and mitigate risk while improving organizational performance through non-insurance solutions.
With our approach, every decision about risk management is designed to improve our client.
With our approach, every decision about risk management is designed to improve our client.
Clients who participate in our Business360 process notice an average of 17% first-year cost reductions and improvements in their operational efficiency and risk profile.
More importantly, our firm is about more than making a profit.
As a social enterprise, our business is based on our mission to facilitate the entry of underrepresented people into the insurance industry as leaders and owners so that we can begin to address the economic gaps that exist in our communities.
We do this by providing training, opportunities, and funding to those who want to work as operations and risk management consultants.
What is a fun fact about your business or its history?
Our founder, Meredith Messenger grew up with two parents working in the insurance industry and at a young age vowed not to work in the industry. To see also : Israeli food tech startup SavorEat serves up 3D printed pork and turkey burgers.
Fast forward 30 years and he’s been in the area for over 17 years, and now he owns his own company! His parents always remind him of the early talks and how “good” they are about the industry!
Why did you choose Connecticut?
The country is incredibly diverse in population and culture.
It offers an excellent lifestyle, and is well located and accessible to other major markets such as New York and Boston which are attractive.
What is the greatest advantage to operating in Connecticut?
We believe the most important asset we have is our people, and the state of Connecticut can provide us with some of the insurance and technology talent in the country.
How do you try to give back to your community?
As a social enterprise, we do everything we can to support our mission of enabling business ownership and leadership opportunities for underrepresented people in order to continue to positively impact the economy and opportunities available in our communities.
In addition to our own business model discussed above, we host educational and networking events designed to facilitate relationships and events that can help business owners and aspiring business owners as they work through the many challenges of owning and growing a business.
We support and donate to non-profits and organizations that align with our mission and values so that they continue to provide value to our communities.
Where do you see your company in five years? Ten years?
Our goal is to successfully facilitate the participation of 25 people by 2030 in the leadership sector by being owners from the communities we are a part of, while facilitating and maintaining the success of the businesses we serve.
For the long term we envisage building a country, boutique-style operation and risk management with continuous focus on professional services and technical expertise.
We hope to build a team of 50+ partners and representatives from various backgrounds with leadership and ownership opportunities.
If we can do this, we are enabling economic and social growth that goes beyond our business success and begins to affect our communities on a larger scale using what we like to call the “ripple effect.”
What is the main thing policymakers could implement to make your company more competitive?
One of the biggest challenges is finding funding for start-up companies that are growing and have great potential to contribute to the country’s economy.
We think increased focus and broader, more accessible financial support for more small businesses through programs like Connecticut Innovations can make a big difference.
