Insuring the future Featured

8:00pm EDT June 25, 2010
Finalist
Health Science

In 2001, Brandon Cruz and Clint Jones were fresh out of college and needed health insurance. The two men went online to see what they could find, but they were disappointed with the results. Only one company in their area was advertising insurance on the Web, and the online experience was both cumbersome and confusing.

Once they saw how difficult it was to purchase health insurance, they realized there was a real need to empower consumers with easy-to-use tools to find the right individual plan. They also knew they could develop technology to provide insurance professionals with tools to better run their business. The result of these efforts is Norvax Inc.

Getting the insurance industry on board with these ideas was no small task. The most significant obstacle the company faced was the fact that the health insurance industry was years behind the times in terms of technology adoption. Instead of using e-mails and PDFs, they were using faxes and paperclips.

Norvax learned to work closely with the carriers and agents to show them how new technology could make the insurance business simpler, more efficient and more profitable. Less than a decade after the company was founded, more insurance companies and agents than ever are using its technology. At the same time, thousands of shoppers use Norvax tools to obtain coverage that best meets their needs.

This unique business model of not just helping consumers find insurance but also helping carriers reach those consumers is a big part of the success of Norvax.

No other technology company within the individual insurance market has a broader influence on how an insurance product is both bought and sold. Cruz and Jones have intentionally positioned their business this way so they could have the greatest effect on the entire market.

How to reach: Norvax Inc., (866) 466-7829 or www.norvax.com