Re-Intermediating

The Intermediary

Re-Intermediating

The Intermediary

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problems facing the industry

Whether you are a one man brokerage, or a large Blue Chip Corporate you are most likely facing the same problem. With the advent of the internet, and other digital media, most intermediated companies have been left behind.

The new so called “Direct Insurers” have come in and dominated the Insurance Market for a number of years, and the intermediated market has slowly been dis-intermediated through a slow process of campaigning.

The South African Intermediary market is in dire need of a solution to compete against the “direct insurers”. If intermediaries do not act fast, the direct life companies will capture the whole market, whether or not the product offered to the client is the right product or not. Life Cover (as well as some other insurances) has fast become a traded commodity, and if the “broker” does not stay abreast, they will find themselves left behind.

Some of the challenges facing the intermediated market are as follows:

  •  Fall off of experienced Agents and Brokers with the new regulations coming in;
  • Difficulty recruiting new agents / brokers to grow the intermediary force;
  • Finding good Qualified Clients / Prospects for these new intermediaries, as the old Brokers are holding on to their client bases and the new clients are being absorbed by the direct insurers;
  • The ability to manage these clients to produce maximum income from their loyalty;
  • The ability to manage the new consultants to ensure quality of advice and service;
  • Manage business retention, as “direct” often means high lapse / poor retention rates are achieved.

If these challenges sound familiar to you then FirstLIFE is your answer. With years of experience in the Financial Services Sector, as well as the Digital Marketing field FirstLIFE is well position to take your business into the new digital era. 

With our digital enabled Quote Engine Technology, seamless integrating into a lead management system which allows your consultants’ access to hot insurance and financial services leads instantly you business can grow exponentially. 

P.A.L.M.S., our lead management tool will also allow you to refer clients back into the system to other intermediaries who specialise in products and services you may not be able to offer, and we will facilitate credits back to your account for generating the referral. This means you can actually earn back for business you could not handle.

To apply for membership, please fill out your details on FIRSTLIFE INSURANCE LEADS

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