We feel there is a strong consumer
driven desire for acquiring insurance through alternative
channels. Consumers want “deep support” and
are willing to pay for it, but understand finding
it is difficult, especially when you are not in their
local geographic market. The world is about specialization
and niche expertise. The internet is the ideal medium
to connect buyers and sellers, both for commoditized
and non-commoditized transactions. What we have learned
is service oriented buyers seeking service minded
specialized brokers can be facilitated, not hampered,
by the Internet, even though the prevailing perception
is that the Internet is only good for buying small
commodity products.
The Coverage Coach leverages the law of large numbers
by doing all your prospecting for you. The automated
prospecting and qualification allows you to leverage
your time more productively by working on a continuous
stream of desirable prospects, as defined by you.
When evaluating Coverage Coach, please compare it
with traditional production costs and efficiencies,
and in particular try to appreciate that Coverage
Coach automates the tasks that are not often done
consistently well by humans, either because it requires
objective underwriting judgment or it is repetitive.
Coverage Coach allows you to push the leads down
to a less expensive source for handling the business
because you have imbued the system with your underwriting
logic, which it applies flawlessly, time after time.
It is very hard to blame the system when it continuously
generates accurately scored leads that are segmented
by desirability.
Coverage Coach should not be confused as a software
or IT expense; rather it is a sophisticated cutting-edge
revenue generating tool that pays for itself. The
$64,000 question is whether you can achieve the following
from a traditional production system alone:
- Infinite scalability – can handle hundreds
or thousands of leads.
- Consistent underwriting and complete pre-qualification
of ALL leads.
- A low transaction cost per lead
- Economies of scale – the more business
you conduct through it, the cheaper it is.
- Ability to push leads to internal sales force
with lower cost level that doesn’t require
prospecting or qualification skills.
Eventually all insurance will be purchased across
the internet. Would you rather be an early adopter,
and gain market share, or be boxed out from this
lucrative selling channel in the future?
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