Says this latest collaboration will help Mass. agents recapture Personal Lines market share
Boston Software has announced that it will be one of the comparative rating vendors for the new Project CAP.
“We’re excited to help Project CAP engage online insurance shoppers and help Massachusetts independent agents sell more policies,” said Boston Software Director of Sales & Marketing Charlie Walsh. “It’s a great opportunity.”
The Needham-based company, started in 1995 by Tom O’Connor and Charlie Walsh, is behind both the WinRater Rating Software and SinglePoint Real-Time technology used by more than 1700 independent insurance agencies in Massachusetts.
“We are excited and proud to partner with Boston Software—they are the clear technology leader for insurance industry services in Massachusetts,” said Charles “Chip” Bacciocco, Project CAP’s CEO. “TrustedChoice.com brings the convenience of the web to complement the strengths of Massachusetts independent agents who give consumers insurance advice, information, choice
of coverage, and local advocacy.”
Boston Software says that its SinglePoint™ platform will power the Trusted Choice website’s comparative Real-Time Rate “get a quote” functionality for those online shoppers seeking to buy insurance in Massachusetts. In addition to the comparative quotes feature that it will be providing, the new Trusted Choice consumer website www.trustedchoice.com will also display to online consumers a list of all MAIA and Trusted Choice insurance agencies located within the Commonwealth.
The Massachusetts Association of Insurance Agents, has been a huge supporter of the Project CAP Consumer Portal and is equally please with the selection of Boston Software as one if this State’s Real Time Carriers for the site.
“In the face of increased competition from the direct channel in recent years, Massachusetts independent insurance agents still control 79 percent of the personal lines market in the Commonwealth,” Mancini said, adding, “The Boston Software/Project CAP agreement will provide MAIA member agencies with a valuable competitive tool to help them maintain their position as the distribution channel of choice for Massachusetts consumers.”
What exactly is Project CAP?
Project CAP is an industry alliance formed between the Independent Insurance Agents and Brokers of America along with six national insurance companies with the aim to help independent insurance agents and carriers help recapture market share by becoming more competitive with online insurance sales.
Project CAP’s ambitious plan to recapture that market share is through the creation of a consumer web portal at www.TrustedChoice.com that will provide online consumers with a one-stop shop to obtain multiple real time insurance quotes from various independent insurance agents in their area.
In June of this year, Project CAP introduced the ‘get a quote’ functionality to shoppers in Minnesota and Indiana, and plans to roll out this capability on a national level in the coming months. Boston Software and Project CAP say Massachusetts information will likely be available on the portal in early 2014.