By James Langton

(January 9 – 17:40 ET) – An online insurance brokerage has filed a prospectus for an initial public offering.

sussexinsuranceagency.com Inc. is an independent insurance broker based in British Columbia. It offers personal and commercial insurance products. According to the prospectus, “The key features of the company’s technology based business model are the company’s Internet Web site, located at www.sussexinsurance.com, and a 24 hours a day, seven days a week customer contact centre.”

The site enables customers to access information on different insurance products, receive real-time quotes and compare product offerings and pricing from different insurance companies. Through the contact centre, consumers may obtain advice and place orders with sales reps. “The company intends to utilize the latest in computer and telephone technology to address consumer demands for increased levels of service and convenience, demands that the company’s management team feel are not addressed by conventional insurance selling methods.”

The proposed offering is comprised of 1.6 million units priced at $1 per unit, to be offered in B.C. and Alberta for aggregate gross proceeds of $1,600,000, and estimated net proceeds of $1,342,000.

Over the next 12 months the firm hopes to: establish a strategic partnership with one or more retail organizations for the marketing and sale of “own-brand” insurance services.

It also plans to expand the company’s book of policies to 55,000 by acquiring other insurance brokerage businesses and by acquiring books of business from commercial producers.

Pacific International Securities Inc. is underwriting the deal.