Contactability: Accelerating Customer Acquisition for Carriers and Agencies

CIO VendorLev Barinskiy, Co-Founder & CEO
Historically, insurance carriers have been slow to adopt the online marketplace and rolling out products to suit the needs of the online consumer. As a result, insurance agents and brokers have also failed to keep pace with the online marketplace. Of late, digitization is opening up exciting avenues for the insurers. Albeit slow, the insurance industry is tapping into the wave of digitization where carriers and agents are looking for ways to streamline customer acquisition by going online and providing a better customer experience. As a leading insurance ad-tech company, Contactability provides the link between carriers or brokers and online consumers by analyzing the consumer’s risk and connecting that customer to suitable carriers or brokers. Contactability is building a technology platform that allows carriers and brokers to engage with a very active online consumer audience. The company empowers the insurance industry in generating business and customer acquisition through live insurance call and real-time online leads delivering targeted and high-intent traffic. On the flip side of the business, Contactability built one of the fastest growing insurance comparison engines processes over 300,000 quote requests per month and connects these shoppers with a network of over 3000 active agents and most of the top national and regional carriers. Contactability integrates real-times rates from most of the carriers they work with and provide a true side by side insurance comparison for the consumer.

Contactability’s customer acquisition channel, which is both cost efficient and scalable, brings over 300,000 in-market insurance shoppers. Insurance Agents’ value proposition lies in tapping into this massive channel where they can easily source new policies and cost-effectively attract new customers. All prospects fill out a detailed application including information about their current coverage, contact information, financial background, and more. Once submitted, Contactability proprietary system verifies the prospect's information for authenticity and quality standards, and immediately sends it to brokers along with all the contact details.

We are a multi-insurer risk marketplace operating an innovative real-time bidding marketplace that enables clients to target and optimize their marketing campaigns to maximize their ROI

At a granular level, clients can target the exact risk and customer profile that they have created. For instance, if an insurance carrier or agency is focused on a high-risk policy, they can pinpoint that exact consumer within Contactability marketplace and target them. The system matches the right candidate to the carriers according to their requirements. The company operates an auction based system, where besides matching the risk profile to the carrier, the system also looks at how competitive the agency or the broker is. “We are a multi-insurer risk marketplace operating an innovative real-time bidding system that enables clients to target and optimize their marketing campaigns to maximize their ROI,” says Lev Barinskiy, co-founder and CEO, Contactability.

Over the years, Contactability has served multiple clients with the aim to revolutionize the customer acquisition process for the insurance industry. In one instance, an insurance provider with its Insurance Agents was in search of a cost effective customer acquisition system. With its all-in-one customer acquisition system for insurance providers, Contactability was their obvious choice. The company assisted the client convert leads to customers by empowering their sales teams and brokers with adequate traffic into their sales channels. “Our customer has reported 15-20 percent increase in monthly sales after partnering with us,” says Barinskiy.

The company is vesting its focus on the expansion of carrier coverage and Insurance Agent distribution to grow and scale their business. By partnering with more carriers and agencies, Contactability will extend the benefits of its marketplace to both the carriers as well as customers. “We are quickly becoming a leader in our space. The future looks bright for us as we develop our technology and bring onboard a lot more customers,” concludes Barinskiy.