CHICAGO, Oct. 26, 2016 /PRNewswire/ -- Insureon, the nation's leading online small business insurance agency, was ranked 30th overall and third in Chicago on Entrepreneur Magazine's Entrepreneur 360™, an annual list of the best privately owned small businesses in the United States.
The list, in its second iteration this year, aims to recognize businesses that are achieving what Entrepreneur refers to as the "never-ending betterment" essential to long-term growth in a constantly evolving world. Insureon has changed considerably since its launch in 2011, when it consisted of just CEO Ted Devine and one other employee working in a shared office space in downtown Chicago.
Last fall, the company secured a $31 million round of funding and in the first quarter of 2016, it grew premiums by 51 percent. Today, Insureon employs more than 220 people.
"Growing a small business requires you to fire on all cylinders at all times," said Devine. "It's constant problem solving, constant innovation. We're thrilled that Entrepreneur has recognized the growth we're achieving as we strive to improve access to essential insurance products for nation's small-business owners and streamline distribution for our carrier partners."
As part of its ongoing evolution, Insureon this summer brought on Amazon and Zillow veteran Jeff Somers in the newly created position President and Head of Retail. Somers, who is based in San Francisco, will spearhead the opening of the company's first West Coast office.
Insureon leverages its unique online application to both serve retail clients directly and support the leading top-five banks, brokerages, and insurance companies in delivering their small commercial business, placing more than $300 million in premium annually.
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