Insurer sells peace of mind: Carmel-based Seven Corners will cover travelers to next month's Olympics in China

INDIANAPOLIS, IN -- July 11, 2008 -- A Carmel-based international travel insurance company is offering protection to travelers headed to China next month for the 2008 Olympics.

Seven Corners has carved a niche for itself by providing insurance for those traveling outside the U.S. The quietly growing company is based in Carmel's Technology Center, 303 Congressional Blvd.

The company says its insurance for the Olympic traveler will cover a host of travel snafus, including hospitalization, trip disruptions, cancellations and lost Olympic tickets.

The most common claims filed by Seven Corners customers, include infectious diseases such as malaria, dengue fever, intestinal parasites and stomach problems.

The company has direct contracts with seven hospitals in Beijing and Shanghai, and markets itself as specializing in coverage for dangerous and politically unstable parts of the world, including the Middle East and Africa.

With $100 million in claims processed worldwide last year, the company is one of the largest travel insurance providers in the country, said co-founder Jim Krampen.

Krampen, 41, and partner Justin Tysdal, 38, launched Seven Corners in 1993 with $10,000 they borrowed from Krampen's father.

Today, the company is housed in a $5 million, 45,000-square-foot building and employs about 125 employees.

In addition, the company is in its third year of a five-year contract that provides insurance for every single Peace Corps volunteer in the world. The company also handles travel insurance for the domestic volunteer program, AmeriCorps Vista.

Krampen said the main thing that drives good business is quality of service and technology.

"What we decided when we started the company was to take the product from becoming a commodity, to something someone buys and feels good with," Krampen said. "Because they are buying a promise from you, that when they leave and go to China, or wherever they go in the world, that you are going to take care of them."

Seven Corners assists 15,000 policy holders each month, and has a network of 30,000 agents worldwide. "We offer the assistance in-house, if there is an underwriting question, we take care of it immediately," Krampen said.

Source:
CarmelStar
IndyStar.com
July 11, 2008