The Opportunity Costs of Building Your Own Consumer Portal

Insurance companies have spent millions of IT dollars over the past decade on “if you build it, they will come” technology investments, only to find out that the consumer experience didn’t yield the desired results.  In an often feeble attempt to achieve the targeted ROI, these carriers continued to expend IT  and marketing resources on their proprietary products, before ultimately deciding they simply couldn’t continue to throw good money after bad.

EZLynx Carrier Consumer Quoting (EZLynx CCQ) came to the forefront as a leader in this market segment last year and for good reason.

In one recent example:  A major national carrier had built their own proprietary automobile quoting portal for their direct offering that took over a year to deploy. The project continued to consume internal resources for maintenance and support.  The carrier’s business unit also wanted to offer a complimentary full-feature home quoting portal that matched the look and feel of the existing automobile portal.  Because of costs and speed to market considerations, the carrier decided to use our EZLynx CCQ product for their consumer-facing home quoting portal.  EZLynx CCQ was able to seamlessly dovetail into the carrier’s workflows and work with their existing proprietary automobile portal for both monoline and package quoting.  As a result, the carrier experienced a dramatic reduction in the time to market, from over 1 year to under 120 days, and the hard costs were less than half of their internal build estimates, not to mention the opportunity costs that were essentially reduced to zero.

EZLynx CCQ provides significant opportunities for both large and small carriers, as well as agencies, by allowing consumers to enter information directly into a customized carrier portal for data and lead information collection, and optionally, it can provide rates to those consumers. EZLynx has been powering personal lines consumer-facing rating for agencies and carriers since 2007 by putting rates in front of consumers with easy-to-navigate and intuitive interfaces. We think it’s fair to say that we know what we’re doing when it comes to driving consumers to the right results.  CCQ implementations can be as simple as contact and risk information data capture to as complex as online bind.  As a product, EZLynx CCQ is highly configurable from simple look and feel changes, to unique workflows, custom question sets, secondary languages, and pixel and verbiage level customizations that will help keep your legal, marketing, and underwriting teams happy.  EZLynx CCQ can be configured to provide leads and even bind quotes for a carrier’s existing agency plant, direct channel, or both.  All of this can be seamlessly integrated into the carrier’s website to provide a complete white-labeled user experience.

The consistent growth we’re experiencing among our various products and services at EZLynx is amazing.  It shows that if you have hard-working, energetic, creative, and dedicated team members, the sky is truly the limit.

If any aspect of the above scenario sounds familiar to you and you have 2015 project(s) on the board for consumer quoting, please contact your EZLynx carrier representative at [email protected] to discuss how EZLynx CCQ may be able to assist your team.

Learn more about EZLynx Carrier Consumer Quoting

Integrate a white-labeled version of EZLynx Consumer Quoting on your carrier website!

80% of consumers interested in buying a personal lines insurance policy will shop for insurance via the internet but only 20% will actually purchase a policy over the internet. The industry experience we’ve gained from our Consumer Quoting for Agents has been used to create EZLynx Carrier Consumer Quoting; a powerful tool that a carrier may implement from their consumer-facing website which allows a prospective insured to securely enter their personal lines risk information directly into the carrier site. The risk is then underwritten by the carrier adherent to their specific guidelines, and immediately returns a real-time quote to the prospect.

EZLynx Carrier Consumer Quoting has been adopted by a number of leading insurance carriers, enhancing their ability to deploy an industry tested platform without the need to scale up an in-house development team.
What makes this program so appealing to all three parties: the carrier, consumer, and independent agent, is that EZLynx Carrier Consumer Quoting immediately passes the prospect information to one of the carrier’s independent agents based on a predetermined set of specific criteria (programmed within EZLynx) that may include demographic information, such as zip code location, line of business, or other carrier devised rules.

The goal of this solution is twofold: facilitate those consumers who prefer to research the cost and coverage available, at their convenience 24/7/365, and second, to provide the prospective insured with the experience, knowledge and expertise of a licensed independent insurance agent who is familiar with their geographic location and other demographics pertinent to the risk. In other words, the insured, carrier, and agent all reap the benefits of “the best of both worlds.”

After years of providing a real-time consumer rating portal from an independent agent’s website and Facebook page, EZLynx has combined its experience with the knowledge gained, and incorporated it into an easy to navigate, seamlessly integrated product that carriers may now use to enhance the consumers’ insurance buying experience. With EZLynx Carrier Consumer Quoting constructed to emulate the carrier site with its branding, colors and logo, the consumer has the comfort of knowing that they are always interacting directly with their preferred carrier. From a business standpoint, carriers who implement our product within their organization take advantage of a proven, accurate real-time rating system and combine the economies of scale by not having to construct and maintain their own internal consumer facing program, and may now offer what many consumers have come to expect – their insurance products to the general public via an electronic, cost saving mechanism.

At the carrier’s option, the consumer’s experience can be extended to include the built in rate finalization and Online Buy functionality of EZLynx Carrier Consumer Quoting. Implementing this solution across their personal lines products allows the carrier to minimize distribution expenses without sacrificing the value of a truly understanding and educated insurance agent.

For additional information about EZLynx Carrier Consumer Quoting, please contact [email protected].

EZLynx Announces Release of Carrier Consumer Quoting for MAPFRE

EZLynx, the leading provider of insurance industry real-time solutions, today announced that MAPFRE has launched their Carrier Consumer Quoting and lead-generation tool, powered by the EZLynx Rating Engine.

EZLynx Consumer Quoting enables a carrier to provide real-time, consumer-facing insurance quotes from its public website.

“EZLynx Carrier Consumer Quoting leverages and enhances the industry-leading consumer quoting technology developed by EZLynx for agency website quoting,” said Gerry Keeley, Carrier Sales & Development at EZLynx. “Our goal with EZLynx Carrier Consumer Quoting is to enable carriers to present consumers with accurate product pricing and turn these consumers into customers. White-labeled to the carrier’s specifications, the carrier transforms its website into a sales tool, generating prospects for the carrier’s sales channel.”

About EZLynx: EZLynx is the leading client lifecycle management solutions vendor for the agency marketplace. EZLynx pioneered the concept of real-time quoting and remains today the leading provider for independent agents. EZLynx processes more than four million auto, home and package transactions every month, offering a choice of rates from 160 top insurance companies in 48 states.