Management needs to accept and embrace the fact that comparative shopping by consumers is one Genie that ain’t going back into its bottle!
(PRWEB) March 27, 2012
Recommendations on How to Keep the Captive Agency Distribution Channel from Dying
1. Management needs to accept and embrace the fact that comparative shopping by consumers is one Genie that ain’t going back into its bottle! The captive’s contracts need to allow them to sell against their own company based upon price. Let’s face it most carriers already compete against their captive agents through their own direct channels. By balancing the carrot and the stick management can still accomplish revenue growth by adjusting the captive agents deferred compensation structure, their production requirements, and their bonus incentives. These steps added with favorable MGA agreements that work seamlessly with independent agent marketing technologies would ultimately add to the bottom line of the captive carriers and their agency force. In short everyone wins except the direct writers. Moving forward with this hybrid marketing strategy, captives are better prepared to deal with the reality of continued heavy handed legislative environments, and the more predictable company underwriting cycles that deal with the ebb and flow of hard and soft markets.
2. Carriers need to do a better job of getting their brand out there in a cost effective way! To do that they must go where the eyes are, and that’s on line as well as mobile. The current approach of using a main carrier web site and search engine listings for their agents isn’t doing enough. Remember consumers want to maintain control of the comparative shopping experience, and they don’t want to give up the speed and convenience of the web either. The only way to satisfy these consumer expectations is to offer a mobile friendly consumer portal that is a hybrid between a traditional agent e-directory and a consumer controlled multi-rater, and that’s exactly what MyTownInsurance.com provides.
MyTownInsurance.com is a product of IAIMS Inc. (Insurance Agent Internet Marketing Systems). IAIMS offers internet marketing solutions to both the Captive and Independent Agency distribution channels. Their mission is to advance the success of the agency distribution channel on-line to the benefit of both the consumer and the agent.
Other offerings include mobile web solutions for QR code enabled mobile web pages and SMS text messaging systems through affiliate partners Meyowza and iZigg respectively. Additionally in the states of Texas and Florida, the exclusive leads connection service, 1Lead1Buyer.com, is available to Independent agents as well. To learn more about IAIMS just click here.