Insurance Revolution, Inc. and its wholly owned subsidiary InsureHiTech.com, an e-business property and casualty insurance portal, has received $10 million in a round of funding from J.P. Morgan Corsair II Capital Partners LP, a $1 billion private equity fund.
InsureHiTech.com, delivers an end-to-end solution for clients, providing them with a choice of quotes from top insurers, insurance procurement services, risk management information delivery, fully integrated transaction processing and client data capture specifically for the information technology, e-commerce, telecommunications, life science, environmental and venture capital industries.
Insurance Revolution, Inc. will use the first round of funding to expand the InsureHiTech.com portal. The proceeds will be used to hire additional licensed insurance professionals for customer service and sales in 32 cities across the United States, launch a marketing and public relations campaign in connection with their exclusive sponsorship with the Council of Regional Information Technology Associations, begin international expansion and complete integration projects with 6 global insurance companies to create the XML standard for the commercial property and casualty insurance industry.
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