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Author Topic: First Insurance Company to Accept Bitcoin  (Read 5229 times)
kenerwin88
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March 19, 2013, 07:34:37 PM
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Hello,

I am the system admin for Beauchamp McSpadden, an insurance company based out of Indiana.  I have been discussing Bitcoin with the owner of the company, and he decided that we could begin accepting bitcoin for insurance payments.  We sell nearly every form of insurance (home, auto, health, life, commercial, umbrella, equine, etc.) and are licensed in all states with the exception of Alaska.  Even if you are currently with a major carrier (Progressive for instance), you can transfer the policy to us and begin paying your premium via bitcoin. 

Our website (I am aware that it needs much work) is http://www.bmins.com, and I will be adding a section about bitcoin soon.

Our primary headquarters are at 231 W. Canal Street, Wabash, IN 46992, and our phone number is (260)563-8821.  I am looking for a few people to be our first bitcoin clients.  While I am a system admin and not a producer/CSR, it would be best to contact me via email at kerwin@bmins.com if you are interested, or extension 2192 as no one else has worked with Bitcoin yet (I hope to change that soon!).  I will get you in touch with one of our CSRs who will get the best insurance rate possible for you, and if it's worth it for you to switch, I'll send the premium invoices via Coinlab and the rest of the process will be identical to if you were paying with cash.

If this turns out to work well for everyone involved, I'll make the process more automated, but for now we would like to just work with a few clients to test the process.

Please let me know if you are interested, our rates are actually very good (at least in my experience, my dental/auto/life is with us).

Thank you for reading, if you have any advice (such as a better alternative to Coinlab), suggestions, or would like to receive a quote and possibly be one of the first clients, please let me know.

Ken Erwin - kerwin@bmins.com, 260-563-8821x2192  Smiley

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Mike Christ
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March 19, 2013, 08:37:29 PM
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History in the making right here Grin

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March 19, 2013, 08:40:03 PM
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Well done! This could be another entry in the Bitcoin history list of "firsts". A word of warning - the Bitcoin community moves fast. You'll need to get your Bitcoin acceptance logo and process in place quickly. In the short term someone like BitPay could act as a stopgap until you're able to go it alone.

Bitcoin enthusiast and Java programmer contributing to https://multibit.org and http://bitcoin.stackexchange.com
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March 19, 2013, 08:53:25 PM
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Thank you for the advice!  I've already passed on several people to our CSRs and just had another meeting with the owner, it looks like I'm going to be going from system admin to producer pretty quickly so that I can help write the policies as well.  I'm doing as much research as possible to have the best process in place that we can.  Coinbase looked like the best option, however is Bitpay something that you would recommend instead?  We want it to be as easy as possible for the client, so if it's a little harder on our end thats ok.

Thank you again to everyone who has already contacted me!

Ken

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March 19, 2013, 09:34:41 PM
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Thank you for the advice!  I've already passed on several people to our CSRs and just had another meeting with the owner, it looks like I'm going to be going from system admin to producer pretty quickly so that I can help write the policies as well.  I'm doing as much research as possible to have the best process in place that we can.  Coinbase looked like the best option, however is Bitpay something that you would recommend instead?  We want it to be as easy as possible for the client, so if it's a little harder on our end thats ok.

Thank you again to everyone who has already contacted me!

Ken

We use BitPay and we recommend them. Great company!

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kenerwin88
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March 19, 2013, 11:22:23 PM
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It sounds like Bitpay is going to be our best option right now, so I think that's what we'll go with.  To everyone who has contacted me today, thank you!  I have a few people that I still need to respond to, however all of the CSR's for the Agency went home at 5:00PM.  Tomorrow morning I'll make sure everyone is replied to, and hopefully we'll write bitcoin's first insurance policy!   Smiley

Ken

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March 19, 2013, 11:30:58 PM
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Once you're launched you'll want to enter yourself onto the Bitcoin Wiki Business Listings page, it's a bit like a yellow pages for our growing merchant community. Lots of merchants forget to post there though, I had to remind Bitcoinin. ;3
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March 19, 2013, 11:35:21 PM
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Excellent! Glad to know you're entering into the Bitcoin economy. New businesses are always welcome.

ZIGGAP happens to be in the market for business liability insurance. It would be great if we could get this insurance from a provider in the Bitcoin ecosystem. I've left you a voicemail and look forward to your call soon.


Thanks!

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March 19, 2013, 11:38:37 PM
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https://BIPS.me is also a great service for accepting Bitcoins.
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March 19, 2013, 11:58:07 PM
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Wow. This is huge  Shocked

Awesome news!

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March 20, 2013, 12:21:56 AM
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This is awesome Grin Grin Grin Grin Grin

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March 20, 2013, 12:43:44 AM
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Hello,

I am the system admin for Beauchamp McSpadden, an insurance company based out of Indiana.  I have been discussing Bitcoin with the owner of the company, and he decided that we could begin accepting bitcoin for insurance payments.  We sell nearly every form of insurance (home, auto, health, life, commercial, umbrella, equine, etc.) and are licensed in all states with the exception of Alaska.  Even if you are currently with a major carrier (Progressive for instance), you can transfer the policy to us and begin paying your premium via bitcoin. 

Our website (I am aware that it needs much work) is http://www.bmins.com, and I will be adding a section about bitcoin soon.

Our primary headquarters are at 231 W. Canal Street, Wabash, IN 46992, and our phone number is (260)563-8821.  I am looking for a few people to be our first bitcoin clients.  While I am a system admin and not a producer/CSR, it would be best to contact me via email at kerwin@bmins.com if you are interested, or extension 2192 as no one else has worked with Bitcoin yet (I hope to change that soon!).  I will get you in touch with one of our CSRs who will get the best insurance rate possible for you, and if it's worth it for you to switch, I'll send the premium invoices via Coinlab and the rest of the process will be identical to if you were paying with cash.

If this turns out to work well for everyone involved, I'll make the process more automated, but for now we would like to just work with a few clients to test the process.

Please let me know if you are interested, our rates are actually very good (at least in my experience, my dental/auto/life is with us).

Thank you for reading, if you have any advice (such as a better alternative to Coinlab), suggestions, or would like to receive a quote and possibly be one of the first clients, please let me know.

Ken Erwin - kerwin@bmins.com, 260-563-8821x2192  Smiley

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March 20, 2013, 12:47:44 AM
 #13

Hello,

I am the system admin for Beauchamp McSpadden, an insurance company based out of Indiana.  I have been discussing Bitcoin with the owner of the company, and he decided that we could begin accepting bitcoin for insurance payments.  We sell nearly every form of insurance (home, auto, health, life, commercial, umbrella, equine, etc.) and are licensed in all states with the exception of Alaska.  Even if you are currently with a major carrier (Progressive for instance), you can transfer the policy to us and begin paying your premium via bitcoin. 

Our website (I am aware that it needs much work) is http://www.bmins.com, and I will be adding a section about bitcoin soon.

Our primary headquarters are at 231 W. Canal Street, Wabash, IN 46992, and our phone number is (260)563-8821.  I am looking for a few people to be our first bitcoin clients.  While I am a system admin and not a producer/CSR, it would be best to contact me via email at kerwin@bmins.com if you are interested, or extension 2192 as no one else has worked with Bitcoin yet (I hope to change that soon!).  I will get you in touch with one of our CSRs who will get the best insurance rate possible for you, and if it's worth it for you to switch, I'll send the premium invoices via Coinlab and the rest of the process will be identical to if you were paying with cash.

If this turns out to work well for everyone involved, I'll make the process more automated, but for now we would like to just work with a few clients to test the process.

Please let me know if you are interested, our rates are actually very good (at least in my experience, my dental/auto/life is with us).

Thank you for reading, if you have any advice (such as a better alternative to Coinlab), suggestions, or would like to receive a quote and possibly be one of the first clients, please let me know.

Ken Erwin - kerwin@bmins.com, 260-563-8821x2192  Smiley

Consider this too.


You know, it would be helpful if you actually looked at their website before you started posting links to warnings about starting a bitcoin business.

As far as I can tell, they are a business that is adding bitcoin support.

Please do your research first.

Please donate: 1FfJzfpGCXD6saKqmMs8W1qt9wouhA98Mj

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kenerwin88
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March 20, 2013, 01:17:07 AM
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Vernon715 is correct, we've been around since 1872 (originally writing fire insurance policies, back then the fire departments were privatized and wouldn't put your house out unless it had fire insurance  Shocked ).  However I did find that link very useful, especially with the information about the Bitcoin WOT.  I'll be updating our website to show that we accept Bitcoin as soon as I get a chance.

Thank you for the advice so far!

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Vernon715
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March 20, 2013, 01:19:23 AM
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Vernon715 is correct, we've been around since 1872 (originally writing fire insurance policies, back then the fire departments were privatized and wouldn't put your house out unless it had fire insurance  Shocked ).  However I did find that link very useful, especially with the information about the Bitcoin WOT.  I'll be updating our website to show that we accept Bitcoin as soon as I get a chance.

Thank you for the advice so far!

I wanted to make sure that people understood that this isn't a new business.

Please donate: 1FfJzfpGCXD6saKqmMs8W1qt9wouhA98Mj

http://bitcoinpyramid.com/r/1642

100101011010100100101010010111001010010101010100101001000100101010101010101010
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March 20, 2013, 02:21:14 AM
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This is so awesome. Do you guys provide insurance for Texas? Namely automotive and motorcycle liability. I don't need any insurance just yet, but I might give you guys a shout some time.

It'll really be something when insurance claims are paid out in Bitcoins, too!

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kenerwin88
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March 20, 2013, 02:31:23 AM
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Hi Sega!

Yes we do  Smiley, hopefully sometime we can help you out.  If you ever end up needing anything feel free to email me at kerwin@bmins.com and I'll get you in touch with one of our personal lines CSR's.  Regarding the claims, that would truly be awesome someday. 

Ken

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March 20, 2013, 02:35:25 AM
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I dont know why no one has asked but can you insure bitcoins  Cheesy

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March 20, 2013, 02:58:03 AM
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Any chance you are working in Canada? Cheesy
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March 20, 2013, 03:48:37 AM
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Awesome! Congratulations!
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