Considering distribution alternatives

Article Abstract:

Insurers are currently re-examining the adequacy of their current distribution techniques and practicing new methods to keep up with technological advances and various changes in consumer behavior. Direct response companies and the captive agency system are identified as effective modes of distribution. Likewise, many insurers have merged with other strong organizations and have turned to electronic commerce in an attempt to serve specific market segments effectively and to remain competitive. Companies that practice ineffective distribution methods will lose core customers and fail to penetrate new markets.

Consumer Behavior, Methods, Evaluation, Distribution (Economics)

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Managing channel conflict

Article Abstract:

A number of insurers are diversifying distribution approaches by supporting, augmenting, competing with or replacing their existing distribution channels. Such diversification almost inevitably results in conflict among distribution channels. This situation, however, can be managed and prospects for long-term success improved with a clear understanding of strategic goals and disciplined implementation of changes. An examination of why diversification is necessary, the company's basic business concept and the differences between distribution channels would help management get a better focus of the issue.

Insurance Agencies and Brokerages, Insurance agents, brokers, & service, Insurance Agents & Brokers, Management, Column, Distribution of goods, Distribution (Commerce)

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Managing channel conflict

Article Abstract:

Insurance companies must address several issues to prevent potential conflict in diversifying their distribution channels. First, management must define the goals of distribution and the company's business philosophy in order to establish the appropriate marketing channel. In addition, insurers must identify major differences between distribution channels to avoid material conflict. Lastly, management must determine the value added to distribution relative to independent distributors.

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