What's the big idea?
GAPro System is a single source cloud-base system for the property & casualty insurance industry that centralizes existing silos of compliance information to accept, verify, and warehouse policy data in real-time on a subscription basis; allowing industry to reduce effort and cost by 80% of today’s $36 Billion compliance cost. By sharing and communicating data through the platform, GAPro gives insurance carriers and agencies an opportunity to get a RETURN ON THEIR DATA without the high cost of IT infrastructure and integration.
Describe the nearest player in your field.
The current standard for compliance information is provided by ACORD; a non-profit standard organization. There are several software vendors that utilize ACORD, but lack standardization and efficiency.
How are you different from that player?
The current system compliance standard is manually input data from whomever. This lacks accuracy of information and is easy to abuse or misrepresent data. GAPro data is direct from insurance carrier. GAPro has filed a provisional patent on the business method.
How does this idea scale into a big business?
The total market is represented by the approximately $36.2 billion cost of compliance. GAPro centralizes all policy data to create standardization, efficiency, and compliance the leads to significant cost and time savings. This low cost solution scales rapidly into other areas.
Why are you the one to run with this idea?
I have more than 15 years experience in the industry and the last five as an insurance agency owner, which is how I discovered this major problem. It is my mission to solve this problem for the insurance industry and help it become a more efficient and compliant world of business opportunity.
What is a $5,000 experiment you can do to move your idea forward?
A $5,000 investment in this concept can help acquire the first beta customers that want to manage their compliance requirement more efficiently. We have strong interest from the largest wholesale insurance broker in the country.