2017 is shaping up to be an exciting year for the CHART Exchange. We provided a glimpse in last month’s column, when we announced the site of our Third Annual Event. As you’ll recall, it will be held October 8-11 at the Four Seasons Hotel in Baltimore MD. This elegant venue offers spacious meeting facilities, wonderful waterfront views, and convenient location. Every room available in the hotel has been reserved for the event; this step will allow us to provide an intimate and CHART-centric setting for our attendees.
In this issue, we’d like to discuss a new offering called CHART Markets. CHART Markets is an online shopping mall. Much like its “brick-and-mortar” counterpart, the facility provides participating members with virtual storefronts from which their various product and services offerings can be promoted. Marketing campaigns targeting retail insurance agencies will be implemented in an effort to drive traffic to this unique Internet platform. We will utilize media advertisement, direct response mail, broadcast e-mail, and other methods to raise awareness.
SOME OF THE UNIQUE FEATURES OF CHART MARKETS INCLUDE:
Functionality. Retail agents will be given the opportunity to search through the portfolios of our storeowners through a unique search portal. Entering keywords related to product or coverage type will generate a roster of members with compatible offerings. Each listing will include highlights, contact information, and links to websites. More importantly, the member is notified each time an agent views their offerings – allowing them to conduct their own follow-up.
CHART MARKETS EXCHANGE
Occasionally, retail agents will inquire about a product that is not offered through any of our storefront owners. In these situations, the producer will be given the opportunity to post information about the risk on an exchange. Participating members will then have the ability to provide placement assistance on a one-off basis.
VENDOR SERVICES CHART
Markets is not limited to insurance products. Our Vendor Partners will also have the opportunity to use platform as a way of promoting their areas of specialization to this unique business niche. Services include legal, loss control, M&A, promotional items, consulting services, web-development, systems, compliance, licensing, fronting, captive management, marketing assistance, etc.
There is no doubt that CHART Markets will identify and source new producers for participating members that they never would have encountered on their own. This new facility can either augment existing distribution channels or establish new ones.
A LONDON-CENTRIC FACILITY
Participating CHART members will not be the only ones benefiting from this newest initiative. Our organization is dedicated to the growth of the U.S./London Marketplace. By heavily promoting this platform within the independent insurance agency community, we are also raising awareness about Lloyd’s, its capabilities, and reputation within the industry.
Our goal will be to launch CHART Markets in the third quarter of 2017. Those interested in learning more about this exciting new platform are invited to click here and view a demo version of the site. Additional information can be obtained by e-mailing our team at firstname.lastname@example.org.
-Glenn W. Clark, CPCU, CHART’S Earliest Adopter