Why Insurance Marketing is the Next Great Side Gig
High Commission Rates, Zero Startup or Overhead, Brand New Opportunity
By: Pat West - Chief Shopping Officer and Founder - Hedge Quote
March 30th, 2018
Chicago, IL
The toughest part about finding a side gig is the opportunity cost that comes with evaluating different options, especially the input costs and the time commitments required. Often times, after hours or irregular work schedules become part of the routine for side gigs and the true bottom line returns can feel minimal regardless of the opportunity you pursue.
Insurance has very few part-time opportunities and even fewer that allow one to set their own schedule. Upfront licensing costs, steep learning curves, and commission based compensation means most insurance industry professionals are full-time. The last great entry level insurance position, the unlicensed telemarketer/"appointment setter", is even facing challenges with the apprehension around phone sales.
Two Seemingly Unrelated Scenarios But…
With the digital upgrades, the traditional insurance industry is undergoing, matched with the untapped pool of part-time talent craving* their own digital brand and just waiting for the right tangible product to promote, I believe...
“The next great side gig is using insurance based affiliate revenues to create a baseline profit center for digital brands, digital influencers and basically anyone that loves to interact with social media.”
(*visit @garyvee for clear verification of this)
Hedge Quote, my Chicago-based Startup that utilizes an upfront pricing model to create hassle-free insurance comparison reports for shoppers to review before they enter the sales cycle. With the launch of the Hedge Quote Affiliate Partner tool that connects qualifying partners to insurance based marketing commissions inside a single dashboard, we are bringing a brand new side gig opportunity to the insurance industry.
From the Hedge Quote perspective:
Why Insurance Marketing for Side Gigs?
1- INSURANCE ADWORDS ARE WORTH A TON! – Don’t take our word for it, check this article out - https://www.wordstream.com/articles/most-expensive-keywords
2- ALMOST EVERY ADULT HAS A NEED FOR INSURANCE – The insurance marketplace is a multi-trillion dollar industry where anyone operating a motor vehicle is required to carry a minimum level of coverage. The potential market is so large and applies to almost every demographic and socioeconomic grouping that regardless of your individual user base's preference, the shared experience of insurance shopping is almost universal. Sharing a positive, time-saving way to shop for insurance probably isn’t worth overwhelming your audience with, but it’s a story that connects across a shared struggle with a solution and is easily updated and recycled.
3- INSURANCE SPENDS A LOT OF MONEY TO GET OUR ATTENTION – The insurance industry struggles to maintain positive, long-term trust with policyholders and relies on a multi-billion dollar ad budget to counteract this industry-wide negativity. Whether it’s the largest insurance companies in the US buying up the naming rights to every sporting event and the tv commercial time in between, or a local agent with a 5 figure marketing budget, insurance as an industry does a great job of financially rewarding a quality referral/click/quote/etc…
4- THE DIFFERENCE IS DEVASTATION OR RECOVERY – Proper insurance planning means life goes on, but not having the right policy or enough coverage can literally be financially crippling. Insurance is never a popular topic but that doesn’t negate the necessity and importance of proper planning which means anytime someone is convinced to check their plan with a vetted advisor, a small step towards a more secure future has been achieved.
How Hedge Quote Makes Insurance Side Gigs Easy -
1- WE KNOW INSURANCE AND WE UNDERSTAND CONTENT CREATORS - For a lot of digital brands both personal and professional that rely on content to drive their ambitions having a tangible revenue stream that doesn’t clash with their authenticity can be challenging. Hedge Quote takes care of the insurance “talk” allowing brands to earn commissions without putting an offer front and center. Because Hedge Quote utilizes multiple platforms as part of the shopping process, Affiliate Partners don’t need to align with a single insurance brand or chase down revenue streams individually which means higher conversions and more commission opportunity with less effort.
2- WE’VE SIMPLIFIED INSURANCE SHOPPING SO YOU DON’T ASSUME – Insurance coverage varies from household to household so much, it’s comparable to a fingerprint. Meaning, referrals should take into account lifestyle and other preferences before making a recommendation. Hedge Quote quickly guides shoppers to the best insurance option based on our industry experience and user preferences which allow our Affiliate Partners to make a confident referral without the assumptions or worry a misguided recommendation can create.
3- ACCESS TO LICENSED INSURANCE PROFESSIONALS – Insurance shopping can get confusing and the insurance industry is highly regulated through licensed professionals, who are the only ones legally authorized to provide insurance recommendations as well as transact policy sales. Hedge Quote NEVER provides policy or coverage recommendations because users/shoppers always have access to a licensed insurance professional as part of their shopping experience. Anyone you send our way will enjoy a compliant and professional environment and every recommendation and quote comes directly from an authorized, licensed insurance professional authorized to do business in the State your user resides.
4- EVERYONE IS A SHOPPER FIRST – Few things make shopping harder than a recommendation from someone that hasn’t used the product. Hedge Quote started as the process our Founder utilized to shop for his own family. It’s the same process we take our family and friends through, and for every Affiliate Partner, it’s a process they’ve completed as well. Although most of us need different coverage and policy help, where we started our shopping journey was the same- HedgeQuote.com
The Difference
Many side gigs have commission structures that mean only very high producing partners really profit (generally those who consider their business "full-time"). Many of the same side gigs require some upfront investment of capital in addition to the time and energy required to get going. Beyond the rest of this, many side gigs require you to acquire additional knowledge about products or industries you may just be discovering yourself. Our goals focus on eliminating friction points for shoppers, but just as much we endeavor to support our Affiliate Partners by:
1. Working tirelessly to offer the highest paying commissions possible to partners.
2. Providing a free to join partner program with zero financial commitments.
3. Installing industry leading, licensed product and platform specialists that field any and all consumer related inquiries.
4. Make being an Affiliate Partner so easy that all you have to do is share with your network, "here's my insurance shopping story and where to go if you want the same experience."
The last piece that holds back a lot of side gigs is a heavy saturation in the local market, meaning many of your closest contacts have already reviewed many of the side gigs you’re considering. Hedge Quote not only aligns your side gig to one of the largest industries on the planet but because of our first-to-the-market advantage, it also provides early Affiliate Partners with a wide-open opportunity.
So to reiterate my original statement – Insurance Marketing is the Next Great Side Gig, and with the Hedge Quote Affiliate Partner program tapping into this immense opportunity has never been easier or more streamlined.
About the Author: Based in Chicago, IL, Patrick West is the Chief Shopping Officer and Founder of HedgeQuote.com. Primarily focused on the behavioral economics of the insurance consumer, Pat's platform design looks for and then eliminates the obvious friction points that commonly result in insurance shoppers making irrational or uninformed decisions during the shopping process. Patrick's career goals include creating 10,000 new side-gig jobs through the Hedge Quote Insurance Influencers which is an insurance based affiliate platform.
By: Pat West - Chief Shopping Officer and Founder - Hedge Quote
March 30th, 2018
Chicago, IL
The toughest part about finding a side gig is the opportunity cost that comes with evaluating different options, especially the input costs and the time commitments required. Often times, after hours or irregular work schedules become part of the routine for side gigs and the true bottom line returns can feel minimal regardless of the opportunity you pursue.
Insurance has very few part-time opportunities and even fewer that allow one to set their own schedule. Upfront licensing costs, steep learning curves, and commission based compensation means most insurance industry professionals are full-time. The last great entry level insurance position, the unlicensed telemarketer/"appointment setter", is even facing challenges with the apprehension around phone sales.
Two Seemingly Unrelated Scenarios But…
With the digital upgrades, the traditional insurance industry is undergoing, matched with the untapped pool of part-time talent craving* their own digital brand and just waiting for the right tangible product to promote, I believe...
“The next great side gig is using insurance based affiliate revenues to create a baseline profit center for digital brands, digital influencers and basically anyone that loves to interact with social media.”
(*visit @garyvee for clear verification of this)
Hedge Quote, my Chicago-based Startup that utilizes an upfront pricing model to create hassle-free insurance comparison reports for shoppers to review before they enter the sales cycle. With the launch of the Hedge Quote Affiliate Partner tool that connects qualifying partners to insurance based marketing commissions inside a single dashboard, we are bringing a brand new side gig opportunity to the insurance industry.
From the Hedge Quote perspective:
Why Insurance Marketing for Side Gigs?
1- INSURANCE ADWORDS ARE WORTH A TON! – Don’t take our word for it, check this article out - https://www.wordstream.com/articles/most-expensive-keywords
2- ALMOST EVERY ADULT HAS A NEED FOR INSURANCE – The insurance marketplace is a multi-trillion dollar industry where anyone operating a motor vehicle is required to carry a minimum level of coverage. The potential market is so large and applies to almost every demographic and socioeconomic grouping that regardless of your individual user base's preference, the shared experience of insurance shopping is almost universal. Sharing a positive, time-saving way to shop for insurance probably isn’t worth overwhelming your audience with, but it’s a story that connects across a shared struggle with a solution and is easily updated and recycled.
3- INSURANCE SPENDS A LOT OF MONEY TO GET OUR ATTENTION – The insurance industry struggles to maintain positive, long-term trust with policyholders and relies on a multi-billion dollar ad budget to counteract this industry-wide negativity. Whether it’s the largest insurance companies in the US buying up the naming rights to every sporting event and the tv commercial time in between, or a local agent with a 5 figure marketing budget, insurance as an industry does a great job of financially rewarding a quality referral/click/quote/etc…
4- THE DIFFERENCE IS DEVASTATION OR RECOVERY – Proper insurance planning means life goes on, but not having the right policy or enough coverage can literally be financially crippling. Insurance is never a popular topic but that doesn’t negate the necessity and importance of proper planning which means anytime someone is convinced to check their plan with a vetted advisor, a small step towards a more secure future has been achieved.
How Hedge Quote Makes Insurance Side Gigs Easy -
1- WE KNOW INSURANCE AND WE UNDERSTAND CONTENT CREATORS - For a lot of digital brands both personal and professional that rely on content to drive their ambitions having a tangible revenue stream that doesn’t clash with their authenticity can be challenging. Hedge Quote takes care of the insurance “talk” allowing brands to earn commissions without putting an offer front and center. Because Hedge Quote utilizes multiple platforms as part of the shopping process, Affiliate Partners don’t need to align with a single insurance brand or chase down revenue streams individually which means higher conversions and more commission opportunity with less effort.
2- WE’VE SIMPLIFIED INSURANCE SHOPPING SO YOU DON’T ASSUME – Insurance coverage varies from household to household so much, it’s comparable to a fingerprint. Meaning, referrals should take into account lifestyle and other preferences before making a recommendation. Hedge Quote quickly guides shoppers to the best insurance option based on our industry experience and user preferences which allow our Affiliate Partners to make a confident referral without the assumptions or worry a misguided recommendation can create.
3- ACCESS TO LICENSED INSURANCE PROFESSIONALS – Insurance shopping can get confusing and the insurance industry is highly regulated through licensed professionals, who are the only ones legally authorized to provide insurance recommendations as well as transact policy sales. Hedge Quote NEVER provides policy or coverage recommendations because users/shoppers always have access to a licensed insurance professional as part of their shopping experience. Anyone you send our way will enjoy a compliant and professional environment and every recommendation and quote comes directly from an authorized, licensed insurance professional authorized to do business in the State your user resides.
4- EVERYONE IS A SHOPPER FIRST – Few things make shopping harder than a recommendation from someone that hasn’t used the product. Hedge Quote started as the process our Founder utilized to shop for his own family. It’s the same process we take our family and friends through, and for every Affiliate Partner, it’s a process they’ve completed as well. Although most of us need different coverage and policy help, where we started our shopping journey was the same- HedgeQuote.com
The Difference
Many side gigs have commission structures that mean only very high producing partners really profit (generally those who consider their business "full-time"). Many of the same side gigs require some upfront investment of capital in addition to the time and energy required to get going. Beyond the rest of this, many side gigs require you to acquire additional knowledge about products or industries you may just be discovering yourself. Our goals focus on eliminating friction points for shoppers, but just as much we endeavor to support our Affiliate Partners by:
1. Working tirelessly to offer the highest paying commissions possible to partners.
2. Providing a free to join partner program with zero financial commitments.
3. Installing industry leading, licensed product and platform specialists that field any and all consumer related inquiries.
4. Make being an Affiliate Partner so easy that all you have to do is share with your network, "here's my insurance shopping story and where to go if you want the same experience."
The last piece that holds back a lot of side gigs is a heavy saturation in the local market, meaning many of your closest contacts have already reviewed many of the side gigs you’re considering. Hedge Quote not only aligns your side gig to one of the largest industries on the planet but because of our first-to-the-market advantage, it also provides early Affiliate Partners with a wide-open opportunity.
So to reiterate my original statement – Insurance Marketing is the Next Great Side Gig, and with the Hedge Quote Affiliate Partner program tapping into this immense opportunity has never been easier or more streamlined.
About the Author: Based in Chicago, IL, Patrick West is the Chief Shopping Officer and Founder of HedgeQuote.com. Primarily focused on the behavioral economics of the insurance consumer, Pat's platform design looks for and then eliminates the obvious friction points that commonly result in insurance shoppers making irrational or uninformed decisions during the shopping process. Patrick's career goals include creating 10,000 new side-gig jobs through the Hedge Quote Insurance Influencers which is an insurance based affiliate platform.