Dayton insurtech firm ConsumerOptix provides platform for new Afficiency, Western & Southern product
The Harford and Western and Southern are among ConsumerOptix’ tier-one clients. Its headquarters is in The Hub at the Dayton Arcade, and the company is still raising capital, James O’Hara, ConsumerOptix co-founder and CEO, said in an interview Friday.
“These guys are changing the way life insurance is bought and sold in America,” is the way O’Hara describes the value proposition his company offers investors and customers. ConsumerOptix’ platform helps consumers understand how much life insurance they need and matches them with a product suited to their situation.
IncomeSense is term life insurance that provides monthly income to beneficiaries to help replace lost income in the event of a wage earner’s death.
ConsumerOptix is digitizing IncomeSense, providing the software and web presence for the product.
“It’s our IT, it’s our technology,” O’Hara said.
ConsumerOptix is among a number of insurtech firms helping to modernize one of the oldest industries in the world.
Founded in 2018, ConsumerOptix, a graduate of The Entrepreneurs Center in Dayton, offers online solutions to provide insurance carriers, brokers and agents tools to educate and enroll consumers and employees in insurance products.
Associated with his company as advisors are familiar Dayton-area names, including Michael Bridges, founder and former CEO of Fairborn defense contractor Peerless Technologies, and Scott McGohan, CEO of Moraine health insurance brokerage McGohan Brabender
O’Hara is the son of another familiar name, LexisNexis pioneer Robert O’Hara, who died in 2009.