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Insurance Intermediary Strategy
[ Executive summary: Internet interfaces are the new factors of production for insurance intermediaries ]
12/30/08 - Editor Note: this strategy piece is in the process of being updated to factor in 'cloud computing'. As "cloud computing infers location and platform neutrality, the emergence of virtualization as applied to applications and process, and a distributed, virtualized approach to Software-as-a-Service" - doing cloud computing right will be a key insurance intermediary strategy.
Business people as insurance intermediaries want control of the internet interfaces to their businesses and essentially do not like technology vendors dictating to them their own internet business model strategy. The problem is very few insurance intermediaries in reality have control of the internet interfaces to their business because of technology vendor hegemony. The solution is Vinsurance Insurance Intermediary Strategy - a new set of services for business people to leverage for gaining or regaining control of their own Internet business model as insurance intermediaries.

Vinsurance Insurance Intermediary Strategy are simple and efficient. It works by effectively mapping technology vendors products and services to the insurance intermediaries internet business model strategy and not the other way around.

The Vinsurance Insurance Intermediary Strategy solution is a reaction to the all too common practice today of technology providers trying to dictate the insurance intermediary's strategy. Red flags are "no problem, we host everything" and "but, you own the data". Of course there are business situations when using a 'third-party intermediary' web server powered online functionality is temporarily useful, but use with caution. From an insurance intermediary point of view, the risk is "lock-in" to that particular vendors internet business model. In economics, it’s called ‘asset specificity’ and becomes an issue as it is related to opportunity because of the non-redeployable nature of the arrangement.

The solution is for the intermediary to organize their own 'Business Services', so to speak. It's relatively easy now to control the 'interfaces' to these services. These interfaces are the new 'factors of production'. Business flexibility and agility is about control of the internet 'user interface' source code 'files' on the intermediary's own internal or external web hosting account. That is, control the code specifically on an internet server which is de-bundled from the technology provider / developer / consultants services - as much as possible. The benefit is business control, flexibility and agility. This makes sense even if the intermediary is planning on selling or merging it's business. The Vinsurance Insurance Intermediary Strategy strategy adds value in all business scenarios and it will become a crucial differentiator as Web services and messaging capabilities around XML schema become simpler, modular and generally easier to implement over time.

Toward this end, Vinsurance has business services in the form of insurance intermediary-specific web portal templates :
  • Simple Template
  • Intermediate Template
  • Advanced Template

'Simple Template’ is very basic web site development services implemented on the insurance intermediary's own web server account and customized with their value-added content .

‘Intermediate’ and ‘Advanced’ portal template services are advanced, 'service-oriented', interactive data services that build upon the Simple template and add value to the intermediary's business model.

With each Vinsurance Insurance Intermediary Strategy, the customer has 100% control of the user interface source code. Not only does this strategy reduce costs, it increases new business sales because the individual intermediary has the capability to exercise the flexibility and agility needed to exploit new business opportunities as those opportunities present themselves and not as they are presented by a technology vendor.

It’s easy to get started. Just send an email message to info@vinsurance.com  and ask about gaining or regaining control of the interfaces to your business.