EverQuote is building a team that’s transforming insurance
Last year, we covered the story of EverQuote’s launch of Sage, an in-house sales agency that promises licensed life insurance agents free leads via “nearly unlimited inbound calls from in-market consumers seeking life insurance policies.” The new unit operates in a similar way to Assurance IQ with two main differences – EverQuote agents were offered a base pay of $30k plus commissions (Assurance IQ agents rely solely on commissions), and they were required to work from the company’s main office in Cambridge, MA, (Assurance IQ agents work remotely).
Then, in June of this year, we reported that EverQuote is getting closer to Assurance IQ’s model by hiring life insurance agents that can work remotely and without base pay. Now, EverQuote is officially adopting the Assurance IQ model with the launch of its subsidiary, EverQuote Advisor Intelligence.
“The traditional insurance sales process is broken. Legacy agencies are struggling to stay relevant in the digital world. They are failing to connect with their clients in a modern way that meets people where they are,” the company highlights on the website. “More importantly, these agencies are also failing to connect with agents or act with agents’ best interests at heart. Many of them are treating agents as a cog in the machine, instead of the fuel. We’re determined to build a better way.”
Similar to Assurance IQ, agents joining EverQuote AI will be 1099 contractors and they will receive a flat commission instead of residuals from selling life insurance and final expense policies. The company expects that agents commit to 30 hours per week and a two-day “intensive training session” will be provided.
Bottom Line: “Figure out a strategy and stick to it for more than a month.”