Rock Insurance has launched technology designed to help travel agents make more from selling travel insurance by upgrading customers from single trip to annual cover.
The firm said it has rebuilt its technology platform, which it offers agents as a white label, from the ground up focusing on improving customer relations management.
The new annual policy upsell device automatically alerts customers buying single trip insurance that, with a single click, they can upgrade to annual cover and what that costs.
Antony Martin, Rock Insurance, said the key to working through the trade was to make the selling of insurance as easy as possible.
“The margins are tighter now because of the direct market but there are some agents out there doing very well and they are increasing their share.
Unfortunately that’s diluted by those who are not doing so well.”
Martin said many agents had been discouraged from selling insurance since Financial Services Authority regulations came in two years ago because there was a perception it was complex.
“Everything we do is about making it simple. If an agent finds it difficult to sell they are just going to switch off. If we can make it simple by providing technology then they will sell it,” he said.
“There are a few agencies really focusing on it. With the changes in regulation a lot of people decided they could not afford to sell it anymore and there were too many pitfalls, but there’s not really.”
Rock currently sees 50% of its business coming from the trade, the rest through its direct arm insurefor.com.
Martin estimated insurance sales now on average accounts for 22% of travel agents’ business, although this was higher for online agents at around 30% and traditional agents much lower at 10%.
Most agents work with Rock as an appointed representative, so are not directly regulated by the FSA.