Insurance Aggregator – The Best Way Forward for Insurance Agents
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What is an Insurance Aggregator?
An Insurance Aggregator is a one-stop shop for insurance seekers. It’s a website that gathers insurance-specific information from different sources and organizes them in one place. It fosters a network of insurance carriers, independent insurance agents, captive agents, and clients. While the providers can display their insurance products to a broader market, the shoppers can find detailed information about insurance policies – prices, coverages, premiums, and other special features.
Why Choose an Insurance Aggregator?
Let’s unravel how an aggregator benefits you.
Surviving and Thriving
Becoming a part of a broader network has become essential for an insurance agent. Long-term survival is almost impossible if you intend to work in a silo. However, with an aggregator you’ll be able to get a comprehensive picture of your market through information centralization. That will help you plan your next moves.

Keeping up with tech-savvy
Statista reports that as of 2019, there are over 72 million millennials making them the dominant generation in the US. Exposed to digital technologies from their early years, millennials are digital natives. This shift in demographics opens demands for tech-based services. Hence, you have to be able to play with the Internet of Things and smart devices.
Keeping up with evolving digital platforms, analytics, artificial intelligence, and interactive marketing modules is grueling. But through aggregators, you won’t have to worry at all. Your aggregator will set the platform and update it as required, while you only have to learn the basics of relevant insurance agency management system to reap the benefits.
Up-selling and Cross-selling
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Escalating Processes and Conversion
When prospects request a quote from their chosen carrier, they enter most of their data in the system. That means you will get an outline of the lead’s needs before you even contact them and will be able to more easily develop a good rapport with them. Additionally, you can focus on gathering other needed data to move ahead with the submission.
Through an aggregator, your clients can enjoy a seamless insurance experience. Whether for inspection, insurance proposal submission, or insurance claim adjustments, the processing time is significantly reduced. An overall faster process will keep your clients loyal to your services. It is an influential factor for customer retention.
Limiting fraud
Since aggregators are powerhouses of information, you’ll have an advantage when it comes to assessing your prospects and identifying anything suspicious. Limiting fraudulent claims lessens costs to the related carrier, leading to decreased policy premiums. It also means you can be a reliable source of business for both the carriers and your clients.
Is Becoming an Insurance Aggregator the Best Way Forward?
Traditionally, insurers would not contract with agents who could not bring in over a half a million dollars in premium volume. Establishing an independent agency was considered remarkable. To overcome this challenge, the concept of insurance clusters came into being.
The clusters allowed agencies to collaboratively share an insurance carrier contract and spread the premium requirement. However, the clusters had two major loopholes: Lack of control over the quality of business written and lack of professional management as an organization.
Insurance aggregators are the improved version of insurance clusters. Aggregators focus on market access, profit sharing, networking with insurers, and so on. An aggregator is the association of insurance agencies as well as the umbrella network of clients and carriers. This makes it clearly better than an independent agent acting alone, or an insurance cluster.

Insurance Agents and Aggregators in the Future
Aggregators are growing rapidly and globally. In varied countries like the UK, France, Spain, Japan, Italy, and India, insurance aggregators are progressively growing and attaining a share of the market. This trend demonstrates the reliability of aggregators in a variety of markets, and indicates a promising future for them.
While aggregators help clients get quotes from their intended insurance carrier in just a few clicks, an agent’s scope will not diminish. You will remain a key asset in the value chain. The automated system provides quotes for general policies but lacks the human touch necessary for personalized service. The system cannot provide results for special requests and does not offer expert advice. For all these reasons, clients continue to seek agents.
What’s more, carriers’ progressive partnerships with aggregators means greater competition. Carriers will need agents to bring in new clients while ensuring that existing ones do not switch to other insurers. Since insurance agents are experts in understanding prospects and making sales, you will have the upper hand.
Insurance aggregators are a disruptive force in the industry and are necessary for independent agents to survive in this highly competitive market. Become a part of this winning strategy and get on top of the competition.
Has this article been helpful to you? Leave a comment below and share your thoughts with us.
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Nice blog! Would the site be state-wide or nation-wide?
The site details depend on the insurance aggregator you choose. Also, thank you so much for your valuable feedback.
How do I optimize my agency with aggregators?
Aggregators can help you significantly in optimizing your agency. Make sure that your business information that you list through aggregator is correct and that you provide accurate NAP details (Name, Address, Phone number). Other important things are to utilize customer reviews and provide geographic location.
What are some major things I need to consider before joining an insurance aggregator?
Selecting an aggregator is a crucial decision. That’s why take into consideration your business need, cost of membership, features of the aggregator, independence of your books of business, etc. Evaluate your options and choose the best one. Please let us know for any further questions.
Thank you!!1
Great article. Just like Amazon gobbling the small retail shops, insurance aggregators will be the mighty force in insurance industry.
Hello Sally,
Thank you so much. Undoubtedly, insurance aggregators will be a major force because the market is customer-centric and being a member of an aggregator come with large number of prospecting benefits
Are there any other alternatives to aggregators?
How many carriers are on your network?
Thanks for your question. We are currently with 80+ carriers in our network.
Fraud is the #1 cause of an insurance agency’s downfall. I believe insurance aggregators can help with that.
Keep going buddy. Agency Height’s got good stuff for agents out here.
Impressive stuff. I’d like to learn more about upselling insurance though.
Love how the infographic complements the blog! good info, learnt a lot. keep writing you guys
Thanks very nice blog!
Appreciate the recommendation. Will try it out.
Appreciate this post. Will try it out.
Hi, just wanted to say, I enjoyed this blog post.
It was helpful. Keep on posting!