Self-service insurance administration firm Ferro will develop a brand new product for medium and small companies after efficiently testing its providers by the Westchester Innovation Network (WIN).
The new product—Ferro Lite—will goal smaller companies to fulfill their particular wants inside the context of their insurance brokerage. The insurtech startup primarily based in La Vista, Nebraska, offers a self-service platform that allows insurance brokers, carriers, and policyholders to handle and renew insurance insurance policies extra effectively.
“We’ve essentially trimmed down our existing offering to make it less cumbersome for smaller operations with fewer assets to manage and less need for high-level risk management,” mentioned Ferro CEO Chris Senkbile. “The new product will be easier and more fluid for smaller users. We hope to have Ferro Lite ready for the market in the next 60 days.”
The concept for Ferro Lite got here from Senkbile’s work with the Rey Insurance Agency in Sleepy Hollow, N.Y. WIN—a program aimed toward driving financial improvement, innovation, and progress inside Westchester County, N.Y.—orchestrated the pairing. The purpose was to supply the native host corporations with a possibility to know innovation inside their industries and to supply helpful suggestions to innovators who must pilot or beta take a look at in a potential buyer setting.
Laura Rey Iannarelli, the company’s proprietor, shared the Ferro platform along with her medium- and small-business prospects for suggestions.
“They really liked the platform and the communications, and they would love an app version of it,” mentioned Iannarelli, who really helpful to Senkbile the significance of a cellular model of the platform in order that prospects can entry data out in the subject.
Innovation Match Program’s purpose is to repeatedly host 10 innovation pairings with native companies in Westchester County with discrete deliverables agreed upon at the outset of the relationship.
“We launched WIN to facilitate the development of new products and services,” mentioned Marsha Gordon, the Business Council of Westchester’s president and CEO. “We are excited to see this innovation initiative bear fruit, and we are determined to attract more innovators to our county.”
Businesses interested by taking part as both a bunch or an innovator to check services or products ought to e-mail [email protected].
