Expand your distribution channels while providing complete coverage for all of your customers' risks
The Bolt Platform provides agents and consumers with a better way to choose and buy insurance through their preferred channel. Channel flexibility is critical for today and into the future.
The consumer is the clear winner in this insurance paradigm. Given the technology platforms and buying behavior exhibited today and expected in the future the consumer is telling carriers "Sell me insurance the way I want to buy it." Direct-to-consumer models, agency models, wholesale models, and even alternate distribution models are now a significant part of the mix. Bottom line: The flexibility of your distribution model must fit the flexibility of your product set. Technology and process cannot get in the way of the insurance buying decision.
We have the answer in the Bolt Platform.
According to a recent McKinsey study, consumers now want to buy insurance their way, through whatever distribution channel works best for them – whether that be through Agents, with a direct model or some combination. Your systems and products have to accommodate the way people shop for and buy insurance today. Carriers use the Bolt Platform to serve all of the insurance needs of their customers, while driving market share, retention, increasing revenue per customer and providing the best possible customer experience.
“The Bolt Platform supported the creation of a new distribution channel for Hiscox—agency distribution partnerships. In the first few months of Bolt’s production, over 400 Hiscox small business policies were issued via the platform. With additional Hiscox states, classes of business and products subsequently added, production expanded rapidly on a national basis. Hiscox has also seen an increase in quotes presented on Hiscox small business products. On average, quote volume increased by 5% in Q4 2012 as a result of this initiative and since the consumer does not have to re-enter data and the transactions are online, quotes are presented in real-time rather than days.” — Celent Model Carrier Award
A significant part of the Bolt Platform is its built-in optionality. There’s no one size that fits all – you’re unique. We will work with you to provide you with the platform you need. Your needs and our service model can be configured to what you need today and in the future. The Bolt Platform has an inherently flexible business model built-in and carriers can choose one or all of the following Bolt Platform offerings based on your needs. |