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Insurance Distribution: A Peek into the Future

Digital Marketing
May 27, 2016

One challenge for multistate group captive insurance companies, including risk retention groups, is marketing their program coverages and services. A recent Carrier Management article made us wonder how digital distribution will impact the direct-to-member/potential member, insurance agents, managing general agents (MGAs), brokers, or other traditional channels for marketing captive programs.

Susanne Sclafane, author of "Practical Tips for Disrupting Insurance Distribution," prepared the article based on her coverage of a presentation by CoverHound Chief Executive Officer Keith Moore at the Casualty Actuarial Society Spring Meeting in Seattle. CoverHound is an online aggregator of small-business, home, and auto insurance. Mr. Moore indicated it will be launching CyberPolicy (at cyberpolicy.com) later this year, the Carrier Management report said.

As Ms. Sclafane reported in her May 19, 2016, article, "Moore suggested that innovation in insurance distribution isn't about changing existing channels and isn't even about offering digital insurance quotes without advice, noting at one point that consumers not only want someone to whittle down carrier choices for insurance policies but also to help them make the final carrier and quote selection."

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