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Transcript of “Looking forward to the future” Online comparison websites – the future ? ISTANBUL – April...
“Looking forward to the future”
Online comparison websites – the future ?
ISTANBUL – April 2014
Who is Safety Insurance Broker ?From blueprint to success story in just a few words
Safety Broker - Milestones
2005 – project blueprint and go live
2009 – franchise system success
2011 – entering the online market
2012 – biggest local broker
2013 – going regional – Eastern Europe
2014 – regional growth
Success in figuresNumbers are a measure of success
Safety Broker – Key Indicators
• 70 mil EUR GWP for the current year• 70 franchise partners• 200 offices – including 12 own
branches• 4.000 active agents• main player in online insurance market
Safety Broker - milestones to becoming a regional broker
• Biggest broker on the local market• Set up and running the branch in Moldova• Set up of the branch in Hungary• Preparing set up for the branch for Bulgaria• Preparing the set up of the branch in Turkey
From a local to a regional brokerLooking forward to the future!
Why shall we look to the future?Help yourself to discover the key to success
Being open-minded and understanding the current market
evolution – this helped us to imagine and create the future:
• Search for developed markets• Measure the developments• See the trends• Create a strategy• Put in place the strategy• Periodically reevaluate our strategy
Analyzing developed markets Great Britain, France, Spain, Poland - leading online markets
• UK - more than 20 million people used price comparison websites 2013
• UK - 50% of all internet users have visited a comparison website in search of car insurance
• UK - 80% of those made a purchase according www.telegraph.co.uk
• Spain and Poland - more than 20% market share for online insurance
• Hungary - more than 50% of MTPL is issued online
Comparison websites New and efficient client tools for optimizing personal budgets
Comparison websites are the way of the future:
• useful shortcuts to price optimisation• easy product information and comparison• tend to focus exclusively on price • lack transparency if missused
Comparison websites:
• commercial websites run by private sector• non-commercial websites run by associations or authorities
Romanian online insurance marketUnregulated market, driven by motor insurance LoB
• Most websites are commercial
• Brokers are the owners of most of these businesses which has advantages but also shortfalls
• Motor insurance and especially MTPL is the most popular typeof insurance sold over the internet
• There are only plans to regulate the market, but no regulation is in place for the moment – similar with many European markets
Online insurance – easy money ?Online expertise can make the difference
DO• Study the market;• Evaluate each investment
base on the ROI;• Invest most of the
resources in sales driven actions;
• Invest moderate in branding;
• Evaluate each action and prepare for future;
• Evaluate client experience on website.
DON’T• Invest without evaluating
the environment;• Invest important amounts
in actions without testing them previously;
• Create the website base on your feelings;
• Take important decisions without testing them with focus groups;
• Invest if you want a positive ROI in 1 year.
Online: the future starts… yesterdaySafety’s online partners reach > 50% local internet users
Safety Broker’s online major partners in RO :
• Emag.ro – biggest ecommerce site in RO - 3 mil monthly unique visitors;
• Elefant.ro - biggest online bookshop - 1 milion monthly unique visitors;
• Goya.ro – newly start up - 500.000 eur invetment;• M.auto.ro – top 3 online player on motor market;
Safety bets on online insuranceHelp yourself to discover the key to success
• Own website for insurances
• Online strategy for franchises;
• Strategy for developing the online presence in related markets;
Franchises online developmentSuccessful partnerships on all lines
Franchises online developmentSuccessful partnerships on all lines
Related markets - leasing New services for our clients – new benefits for partners
Related markets – full comparison New services for our clients – new benefits for partners
Full financial service comparison Compare insurance, credit, internet , TV, Phone, Utilities
Viorel VasileCEO & Partner
Safety Insurance Broker
Looking forward to the future!
Thank you !