I’m following up on Monday’s celebrity guest post from Mark with a insurance-related startup idea. I’d love to go into some deep actuarial analysis of a Baysian system to better calculate insurance odds or a mashup featuring a heat map of the most common locations of auto crashes, but I’m gonna keep this one pretty simple.
The basic idea is a Mint-like site that pulls together all of your insurance information into a single, consolidated location. I don’t know about you guys, but I’ve got separate auto, house, life, wedding ring, and travel insurance. With this site, you can add in all of this information and get updates on the renewal dates, premiums, deductibles, and all that other fun stuff.
The revenue potential is what’s really interesting about this idea. Users can enter some basic demographic information and see how their prices compare with other users. The system can also suggest other carriers who can provide lower rates, and generate revenue by passing these leads along to the insurance carriers.
Any thoughts on this one? As always, give it to me in the comments below.