VivaQuote Insurance Solutions is proud to partner with the nations leading life insurance carriers in offering an online life insurance marketplace, vivaquote.com, where consumers can find current information about life insurance trends, compare term life insurance rates from multiple carriers, and choose from a broad selection of coverage options.
More consumers are going online to manage their finances, yet only 20% of the term life insurance policies sold in 2009 were through a direct channel, such as online, according to LIDMA, an industry trade group.
“The image of online consumers as being somewhat nerdy, twenty-something males is vastly outdated,” says Andrew Enriques, the managing agent for Vivaquote. “Today the average online consumer is male or female, is most likely in their thirties or forties, and has an above average level of education and affluence.”
“What’s really interesting from a business perspective is how closely the profile of online consumers matches that of people who are most likely to buy term life insurance. Statistically, our clients are thirty and forty-something mid-career professionals with college educations, young families, mortgages, and the need to protect all of that. The similarities are striking,” he adds.
By allowing consumers to compare rates from multiple insurers in one place at the same time, customers can choose the type of term life insurance they are most comfortable with, as opposed to the traditional approach of a local agent sitting down at the kitchen table and only showing options from one company.
“The agent is still an integral part of our process, but their role has evolved into more of a support position where they help to affirm the client’s decision, instead of leading them down a path towards a decision that the agent thinks they should make. That is 180 degrees opposite of the typical sales role that most people expect when dealing with an insurance agent,” explains Mr. Enriques.
A Vivaquote agent reviews the client’s request with them, either by phone or email, before submitting the application for underwriting. Mr. Enriques goes on, “That way, if something is missed at the time the application is requested the agent can then work to make sure that there won’t be any hiccups once the application is in underwriting.”
“Our job is to assist our client and make sure they have the information they need to make the right decision, not only for themselves, but for their family. We believe that people know what is best for their personal situation and our agents are here to answer any questions the client has,” adds Mr. Enriques.