A History of Performance
Best-in-class IT insurance since 1997
Tech Insurance was founded in 1997 in response to an unmet need – and an opportunity
A customer of Jim Cochran’s personal lines insurance agency had left a large
IT services company and was starting his own computer business. He had a contract
for some consulting and development work, but the client required him to have professional
liability insurance before he could start. Never having owned or run his own business
before, he had very little knowledge about the types of insurance that were important.
Back in 1997, professional liability for computer consultants was relatively unusual.
Few insurance companies offered it; those that did focused primarily on large firms;
and their minimum premiums – the lowest amount they would charge for a policy
– were high.
Filling the gap
To meet his customers’ needs, Jim researched insurance carriers, sent off
painstakingly completed applications to several that agreed to provide pricing,
and answered their questions. The quotations finally came in two weeks later, for
far more than the consultant could afford. Although his customer ultimately went
on contract without the insurance, Jim recognized the opportunity to assist other
IT contractors and consultants by using the internet to streamline an inherently
inefficient process. And who was at the forefront of the Internet’s explosion
but computer consultants?
Jim soon identified several insurance companies that were receptive to providing
this coverage to small businesses and started building the first Tech Insurance
website. Gradually, TechInsurance’s website capabilities grew more sophisticated
while the agency forged better relationships with insurance carriers and added more
highly motivated, service-driven representatives.
Productive partnerships with insurance companies
In the years since 1997, Tech Insurance has gained more experience with computer
consulting firms and independent contractors than any agency in the country. We
have become the recognized “go-to” experts in technology errors and
omissions coverage. And we have grown to serve roughly 15,000 consultants and small
businesses in the IT industry, with 25,000-plus policies in force. With this knowledge,
we are uniquely equipped to help customers identify their risks, determine which
are insurable, and secure the best policies from the most appropriate, A-rated insurance
companies – at the best prices.
Efficient processes that saves money, time & trouble
Our expertise is coupled with state-of-the-art technology that streamlines the online
application process to a mere 20 minutes. Once you hit “submit” we have
all the information needed to match you with insurance companies and policies. And
because TechInsurance has built such a strong track record with insurance companies,
in many cases we can access their underwriting and rating systems in real time using
electronic data exchange. That means we can now deliver two, three or even four
quotes from leading insurance companies in a matter of minutes, not days.
People you can trust
Although sophisticated technology is the foundation of our business, you won’t
find more knowledgeable, motivated and caring representatives anywhere else. We
will spend as much time as necessary to learn about your business challenges and
insurance risks to present the best solution. And we are dedicated to educating
you on the different types of insurance so you understand what you’re
buying. In short, TechInsurance always puts your best interests first.
As a business that is growing by 30 percent each year, TechInsurance understands
the need to grow with our customers. That’s why we’ll happily expand
or reduce coverage as needed to align with the ebb and flow of your business and
client contracts. So if things change, just give us a call and we’ll make
sure your coverage is always an ideal fit.