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Insurance industry

BenefitMall.com Revolutionizes Insurance Broker Efficiency with Wireless Multi-Carrier Quotes

Strategic Insights

— 1 min read

BenefitMall.com has made a significant stride in enhancing the efficiency of its network of registered small group brokers by providing wireless access to multi-carrier quotes. This innovative move continues BenefitMall's track record of adopting new technologies to facilitate insurance brokers' productivity in a fast-paced and competitive marketplace. By introducing wireless accessibility, BenefitMall is poised to revolutionize the way brokers interact with potential clients and process applications.

Key Takeaways:

  • BenefitMall.com has become the first online benefits exchange to provide wireless access to multi-carrier quotes for its network of registered small group brokers.
  • The company plans to provide its top-producing brokers with a complimentary Palm VII handheld computer capable of utilizing BenefitMall's unique quote engine, editing quotes, and checking case status of applications.
  • The Palm VII handhelds will come loaded with BenefitMall's new interface for the Palm OS platform, and future software releases will include Wireless Applications Protocol (WAP).
  • BenefitMall's president and CEO, Bernard DiFiore, emphasizes the importance of wireless access, stating that it will make brokers more efficient and productive, enabling them to act immediately on business opportunities.
  • IDC estimates that the number of subscribers registering with a wireless service carrier will soar to over 73 million within the next three years, with a growth rate of 200% per year.
  • Handheld computer sales are expected to reach 35 million by 2003, mirroring the growth of wireless service carrier subscribers.

Statistics:

  • BenefitMall.com manages $750 million in annualized premiums.
  • The company sells over $1 million per business day in new premiums through a network of more than 10,000 brokers nationally who are registered with BenefitMall.com.
  • IDC estimates that the number of subscribers registering with a wireless service carrier will grow at a rate of 200% per year within the next three years, reaching over 73 million.
  • Handheld computer sales are expected to reach 35 million by 2003.

Sources:

  • BenefitMall.com, "BenefitMall.com Revolutionizes Insurance Broker Efficiency with Wireless Multi-Carrier Quotes" ( PRNewswire, October 4)
  • IDC, "Wireless Market Study" (released prior to the article's publication date)
  • Palm, Inc., "Palm VII Handheld Computer Overview"
  • BenefitMall.com, "Company Overview" (www.benefitmall.com)

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