Chicago-based Insurance Noodle has launched an integrated facility for spas and salons, offering access to multiple carriers through a single insurance application.
The service promises agents they can simultaneously market their salon and spa services risks to all available carriers and receive bindable quotes within 10 minutes.
The facility focuses primarily on General Liability, Professional Liability, Property, and Workers’ Compensation.
Target classes include an assortment of personal appearance and spa-related occupations, including hairdressers, spa owners, barbers, manicurists, massage therapists, and estheticians.
The personal appearance services industry saw steady growth over the past decade, despite the recession, this trend that is expected to continue, the company said in a statement. Additionally, as three in every 10 salon-industry professionals are self-employed, this provides independent agents an opportunity for growth in this industry.
Professional Beauty Association statistics show that non-employer spas and salons, such as owner/operator establishments and independent contractors, saw an 83 percent increase over the last decade. Employment-based salons grew by 16 percent during the same period; the industry has outperformed the overall economy despite Americans’ slow return to post-recession discretionary spending.
The U.S. Bureau of Labor Statistics also cites that personal care professions will continue to grow in the next eight years, with some professions showing much faster growth than previous years:
- Skincare specialists – by 40 percent, much faster than usual
- Massage therapists – by 23 percent, also much faster than usual
- Manicurists/pedicurists – by 16 percent, somewhat faster than usual
- Hairdressers/cosmetologists – by 13 percent, about average growth
Insurance Noodle, an online placement platform, provides insurance for 6,000 agents and their clients nationwide.
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