We provide to you as an agent with an immediate online presence that allows customers and prospects alike to find you by location and category. The rating and review will give you an advantage over other agents where you can stand out with every positive rating from your existing customers.
We have three unique core technologies that help insurance agents grow their business massively.
1. Malaysia’s First Agent Directory
Our insurance agent directory provides agents with an independent place to have an online presence and reach out to new customers. Our review and rating system allows prospects to develop trust with the agents. It is the Booking.com, Tripadvisor.com and Agoda.com for insurance agents.
2. Insurance Technology 2.0: Lead Generation Engine
Our soon to be launched Lead Generation Engine will help agents get access to social media marketing technique that will increase the number of online leads extensively. This will be one of the premium services that iBanding will offer. Donald Trump used the same method to win the US election. One hint: Referrals through not only existing customers, but from customers similar to your existing customers.
3. Insurance Technology 2.0: Customer Service
New technology and new direct insurance players entering the market are taking away business from the agent distribution channel! With our soon to launch Mobile App for Malaysia, we will put the insurance agent back into the driver’s seat in managing and controlling their own business. This mobile app solution will not only help you protect your current business, but grow it against direct channels.
Our core belief is that good insurance agents are pivotal to the Malaysian insurance industry. Many believe that direct insurer will triumph and similar to AirAsia, Malaysians will start buying insurance online. We do not believe this to be true. Insurance agents not only help educate and determine the right coverage for customers, agents are also there to help when a claim needs to be made.
iBanding helps customers find new agents, when there is a need. There are many reasons why a customer will be looking for a new agents. Here are a few:
Many insurance agents will stop selling insurance, because they can no longer survive with the reduced commission income or the education requirements have become too high.
The last point will happen a lot in the years to come. General insurance agents will see a major disruption in their business because of the Motor and Fire Detariffication in Malaysia. Insurance price will drop by up to 30% and thus the commission income will also drop by 30%. Many general insurance agents will stop selling insurance, because they can no longer survive with the reduced commission income.
The Life insurance sector is also shaken by changes in the Life Framework and BNM plans to open up the selling of Life insurance online. The Monetary Authority of Singapore (MAS) has just recently announced that they will allow Life Insurer to sell Life insurance online direct to customers.
iBanding’s Insurance Agent Directory is our core service to end customers and insurance agents. The “Basic Listing” offering will remain free forever. For a limited time, we offer free upgrades to “Featured Listing” for agents that sign up now. “Featured Listings” are shown at the top of search result, appearing before “Basic Listings”. We are offering it for free for the time being to encourage more agents to sign up.
iBanding does not make money at the moment, because we are still growing our audience. We are planning to make money from three areas:
1. Advertisement through our webpages
This income stream is most common for any internet business. We have not started yet, but soon we will show Google Advertisement on our insurance agent directory listing as well as our news/blog pages.
2. Premium Services to insurance agents
We have not launched our premium service to agents. Besides the FREE directory listing, we will offer premium services to insurance agents that will help them mainly in getting more online leads from new customers through innovative marketing. The technology is unique and is our secret recipe that will help agents increase their business with us.
3. Subscription for our iBanding Mobile App
We are developing an insurance mobile app for agents to customers. It is still under development and we will share more information soon.