Auto insurance in Ontario is no walk in the park. Consumers have to navigate tons of options and work out what coverage best suits their needs. Wading through all the possibilities can be quite cumbersome.
Ontario-based Youngs Insurance Brokers recently launched an online lead generation tool for the auto insurance industry to make the process easier for consumers. The tool, called SnapQuote, provides three immediate quotes with the click of a button, and access to licensed insurance brokers on call to help. A Youngs Insurance broker will then run through the quotes and tailor a policy that best fits the consumers.
Steven Annunziata is the account executive at Youngs Insurance, charged with spearheading the broker’s new online lead generation tool. His goal is to achieve more than $5 million in sales for 2018. Annunziata was recently named an Insurance Business Young Gun 2018. We caught up with the top broker to find out why he thinks online lead generation is the way forward for intermediaries.
“Online lead generation is a great conversation starter between the broker and the customer,” said Annunziata. “I find that most people who get online quotes still want to speak to someone and have a conversation with a broker to check they’re getting the right coverage. If they get a price online and then bring that to us, we can say: ‘You have that quote – perfect! Let’s run through everything and make sure it fits you.’ It makes the broker’s job a little bit easier because they have a good basis to go off.”
Insurance is always changing. Something that used to be sold on hand-written pink slips, can now be born via digital tools like SnapQuote. Some brokers are resisting this type of change under fear of losing relevance against insurance technology.
Annunziata said there’s no need for brokers to fear new technology. Rather, he said they can use digital tools to be “innovative, get ahead of the curve” and provide the best possible service for consumers.
“People seem to really like SnapQuote. I truly believe it’s a win-win for the customer and the broker,” he told Insurance Business. “All sorts of different people are using it, from different backgrounds, ages, etc. Put simply, it’s consumer shopping. And for brokers, it’s a lead generator and I’m never going to say ‘no’ to leads.
“I would 100% encourage other brokers to try out online lead generation. Consider it as a way of inheriting information, which gives you a head start with the consumer. If you have the information at your fingertips, that can help you to get the person in the door. Consumers want that quick and efficient service. The insurance broking business is based off referrals so if a person likes what you’re doing, they will refer others. Therefore, the leads keep on coming.”