Digital Insurance Agenda

Comadso: Making consumers choose your brand, not your price

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Jun 15, 2022

The insurance industry currently sees a continuous stream of new digital propositions coming from well-known players and new providers. The challenge for insurers or brokers is to explain how one proposition compares to the other, as a consumer who does not see the difference and why a solution is of higher quality, will be motivated to go for a cheaper deal.

Comadso believes that insurance companies should focus more on quality than price, when offering customers insurance products. Frequently, the focus is mainly on price, when insurers make comparisons with other providers of insurance products.

Product and competitors’ insights is a key area for both agents and product developers. They need to assess the competitor´s equivalent products in detail, to find their own competitive advantages. Preferably available in real time while talking to the consumer or working on product improvements.

To keep up with competitors’ changing offers, some of the insurers and agents still use excel sheets, which is challenging in a changing and heavily regulated market.

Comadso has developed a powerful software tool that simply and effectively enables insurance companies to compare differences between insurance products, including coverage, restrictions and exclusions, when offering its products to customers. Its tool focuses more on quality than price and provides insurance companies with access to daily updated insurance product information across the industry in Denmark, Netherlands, Sweden, Norway, Poland and Spain.

Its solutions enable insurance companies to improve customer service, increase sales, and reduce discounts by providing better advice of existing as well as potential customers.

How does it work?

Comadso simplifies the comparison of insurance products, one of the most complex financial service products on the market. At the same time, it provides insurer and brokers with access to daily updated insurance product information based mainly on terms and conditions across the industry.

The core element in its solutions is an advanced and innovative comparison tool built on a comprehensive and daily updated database containing current as well as historic information about +270 insurance companies across Europe.

The daily updated database provides agents with specific sales arguments created for a client according to their profiled needs. Thanks to a new dynamic profile view that adapts the argumentation according to the customer profile, the agents can lead the conversation based on what is most relevant. Comadso’s tool integrates through APIs to the insurer’s or broker’s own system, offering transparency.

Comadso has a complete and daily updated comparison portal that many European insurance companies use to to compare their insurance products with other companies’ similar products.

Why did we invite Comadso to DIA Amsterdam 2022?

With so many people looking for their insurance online, being able to understand the differences between the offers is key. Comadso’s solution with its Dynamic-Profile highlights not only the specific customer-relevant advantages but also supports the sales-agent with arguments to explain what’s in it for the customer. It provides knowledge and hardcore product arguments adapted to the customer profile, that are updated daily to increase sales conversion.

At DIA Amsterdam Joanna Malinowska, Country Manager Poland, Dave Lamberti, country manager The Netherlands, Rosa Vigil Torres and Raquel García Peñalosa, country managers Spain, will present Comadso’s daily updated cloud-based comparison tool: Profile View.
They will show how it allows the insurer or agent to go to the specific need of the client during a dialogue in less time, enabling cross-sell and a better selection of the coverage offered.

Who is Comadso?

Comadso was founded by Rasmus Meineke, now CEO, in 2008. The company is based in Copenhagen yet has activities in Denmark, Sweden, Norway, The Nederlands, Spain and Poland. During the last years Comadso has been growing fast and has over 30 insurance companies as its customers, with more than 4.000 users.”

”We wanted to provide the insurance industry with the world’s best daily updated comparison system. And we did”

Rasmus Meineke, Founder and CEO

Visit their website here!

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