Work your website
Brokers can use the internet to find more customers, says Ana Paula NacifInternet shopping has become a way of life for many people — and insurance is no different. Whether consumers are looking for personal or business insurance, the internet is seen as a quick and easy way to get cover.
This means that having a web presence is a must for any thriving broking business. Those who don’t risk losing customers to more internet-savvy competitors. A significant proportion of consumers buying business insurance want to buy through a broker, and they find a broker by going online.
The good news is that it can be simple and cheap to get the basics right. Businesses can, of course, spend thousands of pounds on their website and related marketing activities, but those new to online business don’t need to break the bank to reap the benefits.
“Setting up a basic website outlining who you are, what you do and how to do business with you could be relatively low cost,” says Mike Beddington, Hiscox Head of Client Experience and Group Online.
Having a good website is not only about design. Brokers can use tools such as search engine optimisation to make sure their site comes first in an internet search. “Google is a common tool used by consumers to find what they are looking for,” says Mike. “If brokers include key phrases and words on their site, then the search engine will recognise this and be more likely to direct clients their way.”
Extra effort
Those willing to go a little further can build a site that is more than a shop window, so that transactions, claims registrations, renewals and policy management can all be done online.
It seems the hard work is likely to pay off. Apart from having a great low-cost distribution channel that helps brokers reach a wide audience, those who decide to expand their online capabilities can save money in back office activities too. At the end of the day, it can be much easier, quicker and cheaper for brokers and policyholders to find documents and carry out transactions online.
David Saul, Director of Fusion Internet Solutions, one of the many companies that offer web solutions for brokers, says that specialist niche brokers can benefit from a strong web presence. “The internet is a fabulous place to be. You can market to the whole country very cheaply and service your customer base online,” he says.
Once online, David says brokers need to keep their website fresh and up-to-date. He also advises brokers with more than one niche market to have a dedicated home page for each part of their business. “If you offer more than one type of insurance, it’s a mistake to have one big homepage,” he explains. “Why not have two or three, so when people look for something specific they find what they are looking for?”
Brokers need to find out which web solution works best for them. In any case, letting the web revolution go by may not be a wise commercial option.
“In five years’ time, those who took advantage of the internet will be doing competitive business with much lower overheads,” concludes David.