1 / 17

The Future of Online Comparison Websites: Safety Insurance Broker's Journey and Vision

In April 2014, Safety Insurance Broker, a leading name in the online insurance market, reflects on its remarkable evolution from local to regional powerhouse. With key milestones from its inception in 2005 to significant regional expansions in Eastern Europe, Safety Broker showcases its achievements: €70 million GWP, 70 franchise partners, and 4,000 active agents. As the insurance landscape continues to evolve, the broker emphasizes the importance of adapting strategies based on market analysis and consumer trends. Join us as we explore the future of online comparison websites and the potential they hold for optimizing client budgets.

pascal
Download Presentation

The Future of Online Comparison Websites: Safety Insurance Broker's Journey and Vision

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Online comparison websites – the future ? “Looking forward to the future” ISTANBUL – April 2014

  2. Who is Safety Insurance Broker ? From blueprint to success story in just a few words Safety Broker - Milestones 2005 – project blueprint and go live 2009 – franchise system success 2011 – entering the online market 2012 – biggest local broker 2013 – going regional – Eastern Europe 2014 – regional growth

  3. Success in figures Numbers are a measure of success • Safety Broker – Key Indicators • 70 mil EUR GWP for the current year • 70 franchise partners • 200 offices – including 12 own branches • 4.000 active agents • main player in online insurance market

  4. From a local to a regional broker Looking forward to the future! • Safety Broker - milestones to becoming a regional broker • Biggest broker on the local market • Set up and running the branch in Moldova • Set up of the branch in Hungary • Preparing set up for the branch for Bulgaria • Preparing the • set up of the • branch in • Turkey

  5. Why shall we look to the future? Help yourself to discover the key to success • Being open-minded and understanding the current market evolution – this helped us to imagine and create the future: • Search for developed markets • Measure the developments • See the trends • Create a strategy • Put in place the strategy • Periodically reevaluate • our strategy

  6. Analyzing developed markets Great Britain, France, Spain, Poland - leading online markets • UK - more than 20 million people used price comparison websites 2013 • UK - 50% of all internet users have visited a comparison website in search of car insurance • UK - 80% of those made a purchase according www.telegraph.co.uk • Spain and Poland - more than • 20% market share for • online insurance • Hungary - more than 50% of • MTPL is issued online

  7. Comparison websites New and efficient client tools for optimizing personal budgets • Comparison websites are the way of the future: • useful shortcuts to price optimisation • easyproduct information and comparison • tend to focus exclusively on price • lack transparency if missused • Comparison websites: • commercial websites • run by private sector • non-commercial websites • run by associations • or authorities

  8. Romanian online insurance market Unregulated market, driven by motor insurance LoB • Most websites are commercial • Brokers are the owners of most of these businesseswhich has advantages but also shortfalls • Motor insurance and especially • MTPL is the most popular type • of insurance sold over the • internet • There are only plans to regulate • the market, but no regulation • is in place for the moment – • similar with many • European markets

  9. Online insurance – easy money ? Online expertise can make the difference • DO • Study the market; • Evaluate each investment base on the ROI; • Invest most of the resources in sales driven actions; • Invest moderate in branding; • Evaluate each action and prepare for future; • Evaluate client experience on website. • DON’T • Invest without evaluating the environment; • Invest important amounts in actions without testing them previously; • Create the website base on your feelings; • Take important decisions without testing them with focus groups; • Invest if you want a positive ROI in 1 year.

  10. Online: the future starts… yesterday Safety’s online partners reach > 50% local internet users • Safety Broker’s online major partners in RO : • Emag.ro – biggest ecommerce site in RO - 3 mil monthly unique visitors; • Elefant.ro - biggest online bookshop -1 milion monthly unique visitors; • Goya.ro – newly start up - 500.000 eurinvetment; • M.auto.ro– top 3 online player on motor market;

  11. Safety bets on online insurance Help yourself to discover the key to success • Own website for insurances • Online strategy for franchises; • Strategy for developing the online presence in related markets;

  12. Franchises online development Successful partnerships on all lines

  13. Franchises online development Successful partnerships on all lines

  14. Related markets - leasing New services for our clients – new benefits for partners

  15. Related markets – full comparison New services for our clients – new benefits for partners

  16. Full financial service comparison Compare insurance, credit, internet , TV, Phone, Utilities

  17. Looking forward to the future! Thank you ! Viorel Vasile CEO & Partner Safety Insurance Broker

More Related