Customized Technology Solutions to Grow Your Company

Internet Channel Advantages

The trend towards consumer-driven retail means optimizing all purchase points, including the Internet. Today 85% of all insurance purchases begin with an online search (Independent Insurance Agents & Brokers of America, 2006).

If current trends persist, a 10% leakage from "traditional markets" (government and employers) over 5 years translates to a 440% increase in individual market revenues - reaching over $200 million in annualized premium by 2012!*

Internet sales and lead generation are driven through two purchase points:

  • Shoppers interested in buying direct, but looking to compare products first
  • Shoppers who prefer the a trusted advisor to guide them to the right products

By creating the right insurance shopping experience for both the consumers who prefer to apply direct and those that utilize broker channels, your internet channeled sales have an unprecedented opportunity for growth.

E-Commerce Advantages

Consumers familiar with a brand often choose to visit the website directly. A site tailored for comparison shopping allows them to select a product with confidence, while you see an increase in internet sales and submitted applications online.

With robust online infrastructures and data tracking, you gain opportunities to leverage all channels for successful end-to-end lifecycle marketing.

With all channels working together, direct leads that don't purchase online can be funneled to telesales and broker channels.

After the sale, ongoing online marketing programs cross-sell internet channeled members and present loyalty programs to help decrease lapse rates.

Broker Channel Advantages

Internet technology allows the broker channel to increase sales and productivity by reducing prospecting and improving efficiency in the office.

  • Online lead generation gives brokers a low-cost, reliable source of qualified prospects.
  • End-to-end broker tools facilitate sales automation, streamline quoting and presentation processes and allow for automatic marketing campaigns.
  • Brokers adopting Web-based sales technology find immediate benefits by providing what customers want most - clear and quick responses to their questions and a comparison of products that meet their needs.
  • " Internet-savvy Top Producers name robust internet infrastructures and technology services as critical factors in their selecting and remaining loyal to carriers.
  • With the aging of the brokerforce, carriers are increasingly seeing the benefits of attracting new brokers who are already serving customers online.

By investing in brokers and technology partnerships, your company can secure a significant share of internet-driven annualized premium.

Leveraging Online Technology

Online marketing programs and distribution partnerships allow you to:

And of course, generate more leads online.

Learn how Norvax can help you optimize your internet channel.

*Norvax baseline projections estimate a CAGR growth rate of at least 20% - generating a $100M market by 2011. Baseline projections based on current growth rates of survey of selected industry players.

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