- The results it has achieved and its future potential
- Impact on staff - what training was implemented
- How it was marketed and ongoing promotion plans
Company Profile
The Car Insurance Megastore is a rapidly growing internet-only motor broker based in Wolverhampton. Wayne Lee, (Director) set up the company in 2003, having worked in the industry for over 10 years and recognising an opportunity to replicate the success of some of the bigger internet brokers specialising in areas such as performance cars, lady drivers, and convicted drivers. The website www.carinsurancequotes.uk.com is going from strength to strength. It is this area of the business that this award entry refers to.
Live support - an Innovation in Car Insurance
Interactive Live Web Support, which has been up and running on the site for almost 12 months. The facility took us around 4-5 months to develop and gives customers the option of inputting an immediate contact number at any point in their application so they can be called straight back by one of our expert advisers. This comes through as an immediate message in our email inbox. It means we can monitor every application in real time - something which we believe is unique and enables us to iron out any mistakes before they occur so the customer gets the right quote.
The Benefits of Live Web Support
So often the issue with online car insurance quotes is that the customer makes a mistake and there's no assistance. That's the feedback obtained from customers. By guiding them through the entire process they get the benefits of internet trading but with the added consultation from the broker. For example, if a conviction code is inputted incorrectly we can intervene to make sure it's right.
Once the customer has completed their online application they receive a text message with the quote details so they have a reference point if they're shopping around. The site is fully integrated with the Open GI back-office meaning there's no data re-key. So effectively the client does everything, rather than the staff.
The Results
The site has been a great success, generating volumes of business that have exceeded all expectations in a relatively short launch period. We're receiving on average 220 quote applications per day - a figure which is continually increasing - 30 of which are new business cases. For a company with just 5 staff that's a good statistic. The conversion rate is around 15% which is high for internet business and customer retention is over 80%. This will have a major impact at renewal stage. Customers have also commented on the speed of response to Live Support. It's often only a 30 second question and easy to put right.
How We Market the Site
By constantly monitoring the market and developing it's presence with the likes of Google via search engine optimisation. With a digital TV advertising campaign planned which is due to kick off later in the year.
The Future
The aim of the company is to be one of the UK's largest insurer comparison sites, with online and handling capabilities that are completely controlled and totally transparent. Car Insurance Megastore is a small, highly efficiently run company that's writing significant volumes of business on the web and giving customers the best service they can by overseeing every single policy.
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