Boston, January 30, 2018 – Online life and P&C insurance sales have fostered innovation with regard to distribution, as early attempts to sell insurance online were essentially offline sales that began online. Several distribution options now allow for a fully online insurance purchase experience devoid of any human interaction. As a result of these shifts, carriers now find themselves having to work with a whole set of insurance distributors and manage those relationships.
This report outlines the attributes that carriers currently working with online distribution vendors assess when considering partnerships with these emerging vendors and how these carriers feel about vendors’ performances across those attributes. It is based on 28 interviews conducted from September 2017 to December 2017 with executives at nationally known insurance carriers in the United States and executives at online distribution vendors. This report profiles Abaris Financial, acuteIQ, Assured Risk Cover, Bimadirect, BizInsure, Bolt, Bought By Many, byteRyde, Clearcover, Compare.com, Exl Service, Insureon, Kin Insurance, Matic, Melius, Pie Insurance, Policygenius, Rootfin, Sure, Talage, The Zebra, Tomorrow, and WorkCompOne.
This 58-page Impact Report contains one figure and 27 tables. Clients of Aite Group’s Life Insurance and P&C Insurance service can download this report, the corresponding charts, and the Executive Impact Deck.
This report mentions 500 Startups, Accel Partners, Accenture, ACE, Actua, Admiral Group, AlphaLab, Amazon, American Family Ventures, Anthemis Group, Birchmere Labs, Birchmere Ventures, Chicago Ventures, Clocktower Technology Ventures, Commerce Ventures, Curious Capital, CVC Growth Fund, Echelon Capital, Elefund, Essel Financial Partners, Floodgate, Flying Fish Partners, Geico, Greycroft Partners, IA Capital Group, Innovation Works, Lightbank, ManchesterStory Group, Mapfre, Maveron, Moxley Holdings, Mr. Cooper, Nameless Ventures, Nationwide Insurance, Oak HC/FT, Octopus Ventures, Omidyar Network, Platinum and Neurone Ventures, Plug and Play, Portag3 Ventures, Primerica, Progressive, Sandalphon Capital, Service Provider Capital, Silicon Valley Bank, Silverton Partners, Sirius Group, TechStars, The Hartford, Travelers, USLI, and White Mountains Insurance Group.