Are Insurance Agents & Providers Doing Deals?

[capemilo]

I'd like to know if Insurance Agents and Insurance Providers are interested in doing daily deals that will work similar to Groupon.

So, we are basically working on rolling out a daily deal platform for the insurance industry as a vertical solution, so customers can find all kinds of insurance deals in their city. The domain to be utilised is DailyInsuranceDeal.com.

So my question is, would Insurance Agents and Insurance Providers find such a platform useful as another way to attract clients for their portfolios? Deals can be structured in any shape or form according to the agent or provider. The platform will take a small percentage when a deal tips. The number to tip could range from 1 to several customers. The time frame can also be flexible, e.g hours to several days and so on. Customers can then redeem their vouchers with the agent according to agent terms etc...

It would be helpful to know what you think as an agent if this sort of mechanism can add value to your client acquisition strategy. We have several evolving ideas on how to go about attracting users through social media to sign up just like they do on Groupon. Deals can be for auto insurance, health, life, travel, business and so on, all at a local level in your city.

So what do you think yah or nay? Social Media is really changing the world and we think we may have a clue on how to go about doing this, but want to know what you think as an agent or provider and how you think it should or could work.

Thanks for your kind feedback and contribution.

Cheers
Robert

 

[Newby]

Insurance all has fixed rates. It can't be discounted. Also commissions can't be split with unlicensed people.

 

[Bertolinoins]

Insurance all has fixed rates. It can't be discounted. Also commissions can't be split with unlicensed people.

That sums it up, you cannot offer the discounts that deal sites require in the insurance business for various legal reasons. Our product and deep discount sites are not a match.

 

[Sales71]

You may offer a gift card with every quote or something in that nature. I offer a Starbucks $5 card with every online quote.

 

[capemilo]

That sums it up, you cannot offer the discounts that deal sites require in the insurance business for various legal reasons. Our product and deep discount sites are not a match.

That's very interesting feedback which is why I'm carrying out this survey to best understand how we may go about this.

So, could it work by an agent providing gift vouchers or something like "Get $100.00 worth of Gas Vouchers when you buy and qualify for Auto Insurance from us" or "Get $50.00 Macy's Gift Voucher with every Health and life Insurance policy taken out" etc..

Here's the thing we know, ... we know we can steadily help build a database of customers for Insurance Agents through a daily deal platform, so if the agents can be creative with their deals without breaking any laws, then could it not work? So if you as an agent were going to make say $700 on a policy, would it not be clever to give give away a gift voucher or something, anything?

The bottom line is the technology that sits behind the platform to create scale.

 

[capemilo]

Insurance all has fixed rates. It can't be discounted. Also commissions can't be split with unlicensed people.

Thanks for the heads up! very helpful.

So, could you offer a gift certificate of any kind instead? The platform would make money on the gift certificate offer instead. So your gift offer is $50 for whatever widget, customer buys and pays for widget certificate at say $10.00 hence the discount, platform makes the $10.00, you as agent provide the buyer with the $50.00 gift certificate when he/she buys your policy.

I'm trying to think out of the box creatively on how we can make it work for agents, providers and our platform. i believe social media is a game changer, it just depends on how its done without breaking any legal rules, quite so?

 

[Bertolinoins]

You may offer a gift card with every quote or something in that nature. I offer a Starbucks $5 card with every online quote.

My friends in the restaurant biz tell me that groupon and livingsocial require a 30-50% discount with a % of sales going to that site. It is a big time loss leader. They wouldn't even consider a $5-10 gift card.

 

[BNTRS]

Groupon?

The pyramid-like discount provider that is soaking it's VC providers for so unashamedly it's uncomfortable to even watch?

Yeah, that's what I want to be in on.

 

[Guest]

I thought he was asking if agents deal drugs

 

[senior-advisor-indiana]

I would be willing to give out free insurance reviews... Of course I could probably only give away a few a year.