Our VUE Software representatives enjoyed their participation in the ICMG Annual Meeting on January 29-31st in St Petersburg Florida. The conference focused on the relationships between carriers and MGA’s, new distribution channel partners, and policy holders. The meeting illuminated many areas of focus and application for customer relationship management (CRM) systems, including the ability for carriers to manage lead distribution to channel partners, in addition to communicating with new FMO’s in their distribution network.
An interesting feature session on customer acquisition methods was presented that outlined some best practices around lead management and lead distribution for carriers and agencies. The session defined best practices around:
Cost per lead
The mix and percentage of purchased vs. organic leads
Quality of leads from search engines
Rules definition for lead management
Tracking and re-assignment of leads via CRM based on lack of action
There was also a good amount of focus on health care and senior markets. An interesting statistic given was that 10,000 new policy holder targets enter the senior market every day and are eligible for Medicare. With this influx of new potential customers, carriers and MGAs need to consider how to gain the greatest market share.
Tim Burke, vice president of sales, MGA channel at Assurant Health, spoke about the impact of health care reform and health insurance exchanges on MGAs. He mentioned that supplemental products not covered by the legislation will be an important sales focus for MGAs continuing to market to group and individuals outside of health exchanges.
We enjoyed our participation in the annual meeting of the Inter-Company Marketing Group and are proud to be members of this valuable organization.