Bandalier Use Case: Building Relationships and Driving New Insurance Product Adoption

Bandalier partnered up with a new insurance company in August 2020. They offered short-term insurance: policies that lasted a few hours or a few days. There was plenty of consumer demand for their product, but as they built partnerships with insurance agents, they found that adoption was slow.

With thousands of brokers registered and only 10% referring customers, our client knew that they needed team members with the capacity to restart those relationships. Their internal team was already spread thin supporting their active brokers. They knew they needed sales outsourcing services to expand their capacity. That’s where Bandalier came in. Over the course of our two-year partnership, Bandalier’s outsourced sales development representatives built long-term relationships that helped drive the adoption of new products. Our partnership began with a single goal in mind: build stronger relationships with the client’s incredible and enthusiastic broker base.

Our partnership began with a single goal in mind: build stronger relationships with the client’s incredible and enthusiastic broker base.

We needed team members who could learn fast. Insurance is a highly regulated industry, and we knew we’d be fielding a lot of questions. Fortunately, we had a team member who had built some experience while working with Mighty. That team member was looking for a new challenge, and alongside another inside sales representative, they launched the program. Within two weeks of signing on with Bandalier, our client had their first dedicated sales representatives hitting the phones.

We started calling brokers and asking questions. When did you sign up? Have you used the platform? What questions do you have about it? Is there anyone that you think would be a good fit for their policies? Most of the time, the brokers were glad to hear from our team. They knew they had exclusive access to something interesting. They wanted to capitalize on that exclusivity. But they weren’t sure how.

For as many questions as our team asked, we answered two more. The first few months were challenging. Our team tested new questions, collected feedback from brokers, and relayed it to our client. The key to our success was maintaining an open feedback loop. Together, we brainstormed new approaches to help brokers refer their customers. It was a slow start, but we kept iterating on our process – and then our first completed referral came through. Then another. And another. And our momentum kept building.