Business Partner
Rethinking our distribution model in an innovative way has been key to achieving our vision. A flexible, omni-channel model that stands out from those of other companies because it has no type of legacy and is characterised in particular by:
We want to maintain the excellent synergy we already have with our Agents, which are privileged partners of SMEs with significant local coverage and that represent a profitable network.
We also want to collaborate with brokers, which are essential in our distribution strategy because they are intermediaries that can support the development of new lines of business.
Finally, another channel we are looking at with great interest is web portals and distribution platforms. Our intention is to identify parties that sell products that are not strictly insurance and may therefore supplement their offering with our policies.
An innovative distribution model
Potenziale di crescita del progetto REVO derivante dall’ampliamento della rete distributiva
More than 40 direct partnerships without double brokerage
A new MGA REVO and partnership with 5-10 MGAs focused on the specialty market
consolidation of the current agents network and scouting for new specialized agencies
Flexibility of OVERX as enabler for the link to the new digital platforms
Agents and brokers
When you want to change the rules of the game, it’s better to have the best allies on your side. We are a solid, fast-growing group, and we want to bring a new way of doing insurance to the world.
That’s why a distribution model that includes agencies and brokers with excellent skills, right across the country, is fundamental. People who share the same values and pursue the same goals.
We provide them with OVERX technology and the flexibility of our offering, because it’s also thanks to them that we can valorise these and put them to work for SMEs.
Not only that: in line with the aims of our 2022-2025 Business Plan, we will involve them in achieving two important goals:
• significant growth in volumes of intermediated premiums;
• changes to the product portfolio mix, with the progressive growth of other lines of business, particularly those linked to the classes for which we recently obtained authorisation from IVASS
An ever-expanding …
Our current agency network was created and developed with Elba Assicurazioni. It’s a distribution channel with which we have built a solid relationship over the years, based on mutual trust and expertise.
To date we maintain direct and unduplicated intermediation relationships with 113 agencies active in surety and 50 brokers operating in our specialty and parametric business. All are rigorously selected, with precise specialisation parameters and an affinity with our vision.
But this is not the end of the story: we are continually expanding our distribution model, both by increasing the supply of insurance solutions and by increasing the number of new and valuable partners with whom we can continue our mission.
… distribution model
We are considering agreements with intermediaries specialising in certain business areas that would allow us to come into contact with entities operating in markets where specific experience and a dedicated structure are required. Early expansion opportunities in this regard could be, for example, the market for public bodies or sports risks linked to athlete health and possible injuries.
With OVERX technology we can also interface with B2C marketplaces and service platforms, through microservices expressed via APIs that allow flexible, fast additions.
We can also offer our policies through new types of digital intermediaries, such as bancassurance players and digital brokers wishing to enrich their offering with innovative digital insurance products, further strengthening our network.
Flexibility means omni-channel distribution
Spiagge.it
Thanks to our partnership with the spiagge.it, a management platform for beach resorts, direct customers who book beach services can take out a parametric policy. They are automatically refunded when the oracle reports that an above-threshold level of rain has fallen on their beach within certain time periods. In this case, OVERX talks directly with the platform to issue the policy automatically, thus allowing spiagge.it to expand its offering.
Revo Underwriting
To manage relationships with our intermediaries and support the expansion of our network, we have created REVO Underwriting S.r.l.: an MGA (Managing General Agent), 100% controlled by REVO, which orchestrates all new partnerships. This is a first point of contact for brokers and agents who want to join our network.
REVO Underwriting will be our link with agency networks specialising in the risks insured by the Group and will allow us to make the insurance business intermediated by agents and broker stronger and more efficient.
We are also considering defining framework agreements between REVO Underwriting and networks of agents of other insurance companies (in agreement with them) for the distribution of all specific products that the latter do not intend to develop directly.