Tag: Business-2-Consumer

What is more important, the mailing list or the products?

The other day I was having a teh-tarik session with a close acquaintance. We were trying to establish as to what was more important in internet marketing - the mailing list or the product offered?

A musician has the product range but who would be the customers?

If having to make a decision on a single option, I would stick to the available marketing list (assuming this list to be updated and of reasonable quality) as the more important item. In my mind, product range is not that important simply because we are more abled to source for them. But, where are we going to get our customers? This has to be from our ready or available listing of contacts.... If we have the customers, we can always post or email some sort of offerings to them to interest them. Even if there are limited positive replies from the customers in the listing, it is still not a major problem. We can still rework our strategies by calling upon them, or we can also use outsource tele-canvassers to do the follow up. The other good thing about the available listing is, it provides you with ample opportunity to develop a following on your internet website or any social networking sites. This "following", even if there are still limited sales concluded, can still be very important source of traffic or audience to your sites. That's why some of the blogging sites have nothing much to sell but earned reasonable income from advertisements, especially those coming from Google Adsense, Nuffnang and Advertlets to name a few. Blogsites having sizeable traffic per day, perhaps in region of 5,000 hits per day are targeted by advertisers for specific advertising activities. Thus, you have some sites, eg. kennysia.com blogging about functions and features of tele-communication gadgets for some prominent brand, earning a handsome sum in return..... The conclusion, at least from my thoughts, is the mailing list or the listing of potential customers should outweighs the product range, at least in this teh-tarik discussion.

Starting Project MIIA Network


Welcome to The Project into Malaysia Internet-Insurance Agency Network, a project that brings internet-based agents into ONE common platform as well as to reinventing the process of eCommerce for the benefits of agency and practitioners. This 1Common-platform has been calculated towards achieving an  exponential growth in insurance-eCommerce premiums over the next three years for the Malaysian insurance industry.

When we talk about insurance-eCommerce here we are in fact talking about Business-2-Customer (B2C) conducting insurance transactions over the internet. Therefore the areas concerning B2B are left out in this Project. Of course, premiums coming from Business-to-business (B2B) (mainly in respect of agency point-of-sales internet-based system) are very much part of the broader insurance-eCommerce, thanks to the Ministry of Transport. In 2004 the then minister directed that all motor insurance issuance must be done online, live with the Road Transport Department despite very strong objection by the numerous industry, but the show must go on..... and the rest were history.

In 2006, the B2C transaction registered some RM460,000 worth of premiums, in 2007 the sales was worth some RM650,000 and in 2008, premiums rose passed RM1,000,000. In 2009, sales is expected to double-up. We don't quite believe those statistics as Kurnia Insurance registered lots more online premiums that this! Anyway, most if not all insurers have yet to build any internet online transactional portal which are of beneficial to the buying public - perhaps only Kurnia and Takaful Ikhlas have it but is very much limited to motor and some PA insurance only.

Although Motor premiums dominated the B2C premium base but it was because insurers were too preoccupied with their perceptions that such channel can only transact motor and nothing else - thus failed to allocate resources in building the non-motor B2C transactional portal. There were alot of mistrust or deteriorating confidence level in between intermediaries and the insurers - this was further aggravated by Central bank's calling for "NO COMMISSION" for intermediaries if their clients renew their business directly online. For intermediries to go ahead on their own into cyber-space is almost impossible, although many did tried but failed miserably.... MIIA recognises the only way to move forward successfully is for the agents to close rank and work with us.

How can we move from here? Come and talk to us...... and we will show you HOW!

From the technical aspects and for the immediate term, this project MIIA sees to it that relevant iPortal (the main transactional ENGINE) would be constructed for all possible B2C transactions, especially those relating to Travel Personal Accident, Individual Personal Accident, Householders, Houseowners and Health & Surgical Insurance. MIIA will also work towards a comprehensive online quotation system to cater for all types of insurance.

Do you have any comment? The Project-MIIA team welcomes your feedback.