Topic 3: Podcast 3 – ProjectCAP
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Ever heard of ProjectCAP? Well, chances are you probably haven’t…but you soon will. Because these guys are about to change the game…say what?!?!?!
CAP (Consumer Agent Portal) is a united effort by the IIABA (Big I) to give the independent insurance agents an online presence. The personal lines market is being dominated by direct writers and as more gets taken away from us independents. But not for long…not if projectCAP has anything to say about it!
*FUN FACT* Personal lines market share for the independent agent industry is 34% and falling. Increasing that share by only 1% would create $85,000 in independent agency commission per county!
Almost 80% of consumers go online to shop for insurance (these are YOUR clients). The good news is less than 25% actually buy online (take that geico lizard!). But when they get that quote online, their next step is to search online to seek out an agent. Are you there for them to find?
On this interview we talk with the CEO of CAP, Chip Bacciocco. He tells it like it is. He defines and explains what CAP is and what it means to our industry. And if you are a fisherman then you will love his analogies!