DAYTON, Ohio (WDTN) – When you think of insurance, the word “innovative” may not come to mind, but that’s exactly what business leaders think about the Accelerate insurance platform, created by Dayton-based company ConsumerOptix.
The company was recently acknowledged for its creativity and ease of use, taking home the 2021 Soin Award for Innovation.
CEO of ConsumerOptix, James O’Hara, said he and his partner Brian Kipp launched the business in 2018 to eliminate the complexities of purchasing life insurance by partnering with companies to offer the best options based on consumer needs.
“We found that the insurance industry was doing a really poor job of engaging with consumers and employees, and weren’t doing a good job of communicating the value proposition of life insurance, making it a purchasable product,” O’Hara explained.
He said out of that need, the Accelerate platform was born.
“Accelerate was designed to allow the industry, namely insurance brokers and agents, to more effectively market themselves, and then actually sell life insurance,” he said, “which means generating a life insurance quote, enabling the beginning of the life insurance application process.”
What makes this so innovative? It takes what could traditionally be a month’s long processes and condenses it into 10-12 minutes. As a result of of its user-friendly nature, the platform is becoming accessible nationwide and has received accolades from other Dayton-based leaders.
“It’s truly an honor for ConsumerOptix to win the 2021 Award for Innovation from the Soin family, said O’Hara. “It’s really a validation of what we are doing today with some of the largest carriers and distributors in the insurance space. If you look back on the past decade plus of award winners of the Soin Award for Innovation, it’s a ‘who’s who’ of Dayton. And to be included in that group and become a part of a fellowship with those winners really is very important and meaningful to our organization.”
Along with the recognition that comes with the award, ConsumerOptix also earned a $25,000 prize which O’Hara said he plans to use to help in the process of hiring four software development engineers to further expand the business.
To access the a brokerages on the Accelerate platform, click here.