When it comes to anything insurance related, just the thought of it can stress almost anyone out. Lets face it, while the simple signing on the dotted line is easy, “shopping” for the right insurance can often be very difficult and sometimes overwhelming. But don’t sweat it – entrepreneur Harvey Kong has come up with a new alternative that will change the way we shop for insurance.
Last year, Harvey joined the CSUF Startup Incubator as a resident to help him launch his business. At the start of his time at the CSUF Startup Incubator, he sat down with staff and his startup coach to develop a custom roadmap for his launch that would position his business for success. After frequent meetings with his advisors, he was able to develop and enact a startup plan that he still uses today even though he has graduated from the CSUF Startup Incubator.
Harvey has fine-tuned his concept to launch Goodfetch, an online platform that compares home and auto insurance quotes for the consumer at just the click of a mouse. According Harvey, “Goodfetch addresses the pertinent issue of shopping [for insurance], not merely buying. Buying insurance is easy, but shopping for it remains too tedious a process.” Similar to websites such as Kayak.com, which compares airfare and hotel rates, Goodfetch provides comparisons of home and auto insurance quotes “from a wide selection of insurance companies.”
This is how it works: The consumer submits a single form online to request insurance quotes. Then insurance companies or their agents input their quotes based on information submitted. Based on the consumer’s preference and insurance companies’ competitiveness, Goodfetch’s proprietary algorithm lists a few quotes for the consumer in a side-by-side format for easy comparison. The consumer and the agent will be connected only if the consumer is interested in buying.
Harvey’s inspiration for developing Goodfeth came from his 25 years of experience as an insurance agent, where he noticed that “Consumers don’t shop for auto/home insurance because it’s one of the worst shopping experience. I want to make it easy for the consumer to compare insurance quotes, and at the same time, also enable the agent to run his business more efficiently, without hard selling tactics.”
Even though this company is new we see a lot of potential in it. If all goes according to plan, Goodfetch will change how consumers shop for insurance. If you wish to find out which insurance company offers you the best deal, why not start a search at Goodfetch? It can save you time and a lot of money.
Written by: Traci Muldoon
Edited by: Travis Lindsay
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