Strategic Alliances
What are they?
Strategic alliances (also referred to as inter-company marketing partnerships) are arrangements whereby one company uses its distribution system to market the product(s) manufactured by another company. Such alliances have become popular among insurers, financial services providers and fraternal benefit societies.
Why are alliances formed?
Strategic alliances allow one partner to broaden its range of insurance offerings, or to plug geographic holes in its proprietary product availability, without manufacturing those additional products in-house. That partner can increase income potential and consumer appeal while avoiding the burdens of additional risk, higher reserve requirements and the need to acquire extensive new product expertise. The other partner obviously stands to benefit by having access to an additional distribution channel for its product(s).
What value does LeClair add?
What are they?
Strategic alliances (also referred to as inter-company marketing partnerships) are arrangements whereby one company uses its distribution system to market the product(s) manufactured by another company. Such alliances have become popular among insurers, financial services providers and fraternal benefit societies.
Why are alliances formed?
Strategic alliances allow one partner to broaden its range of insurance offerings, or to plug geographic holes in its proprietary product availability, without manufacturing those additional products in-house. That partner can increase income potential and consumer appeal while avoiding the burdens of additional risk, higher reserve requirements and the need to acquire extensive new product expertise. The other partner obviously stands to benefit by having access to an additional distribution channel for its product(s).
What value does LeClair add?
- Over 20 years' experience in the formation and servicing of strategic alliances - we know what it takes to make them work.
- Relationships with multiple national carriers - we are able to align product marketers with the most appropriate product manufacturers.
- Seamless integration of our technology tools with marketing partners' websites - we provide online contracting, downloadable forms, comparative quotes, business tracking and advanced report generating capabilities.
- Expert back office support services - we scrub policy applications, monitor the policy approval process, identify underwriting issues and provide commission accounting/payment services as requested.
- Comprehensive product and sales training -- we have the manpower to deliver this vital service, while insurers typically do not.