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How do insurance aggregators differ in the United States in comparison to the global market? A look at the US Marketplace, the downfalls of selling only price, and how the InsureMyTrip Business model works for the space.
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@JimGrace3JimGrace.com
Fastest growing US market*
Primarily Not Price Driven
Drives Coverage Up
Drives Value Up
Higher Average Premiums
Better Claims Experience
Aggregator Market in the U.S.
*(UStiA 2012 Market Survey)
U.S. Market Overview
Trip Cancellation market is the largest
Travel Medical market is relatively small
Consumers becoming skeptical (low price = low value)
Why Our Model Works
“No Spin Zone”
Transparency
Selection
Advocacy
Expert Advice
Innovation
Education
Convenience
Technology lover We Make it Easy
Changing Perception
Call Center Reps are Licensed Insurance Agents in all 50 states
Ratings, Reviews & Guarantees
Sell the “best” policy, not just “a policy”
Why Our Model Works
Bad press
“It’s a Race to the bottom”
Poor coverage
Long term problems
Short term gain
The Risks of Selling Price
Customer dissatisfactionUS Markets Selling Price:• OTAs• Airlines• Lower Limit Travel
Medical Products
Provider RecommendationsFor Doing Business in the U.S Market
Expensive Cheap
High Low
Price
Coverage
Satisfaction
• Differentiation• Value• Find The Sweet Spot• Don’t Race to the Bottom!
The Sweet Spot
