While it wasn’t literally a light bulb going off above his head, the idea that came to Jason Farro formed when President Barack Obama announced his prescription for health care reform in 2009.
Farro could see that with the federal reform, health care plans that were offered by small businesses to their employees would be reduced and individuals would become more and more responsible for finding their own insurance.
That year, Farro launched Lighthouse Insurance Group LLC in Cleveland — the first of its kind in the insurance industry.
What first drove Farro, the company’s CEO, was his research into how the Internet could be utilized, and whether there could still be a one-on-one connection with users.
“Ninety percent of insurance shoppers will go to the Internet for health insurance information, but only 10 percent will buy insurance over the Internet,” he says.
Farro was determined to increase sales. His approach was to develop a proprietary CRM and dialing system that was more sophisticated than those on the market. The new software connects Web visitors — inputting his or her name and phone number — with one of Lighthouse Insurance’s screening department staffers over the phone. The result, the quickest one-on-one personal touches possible.
“Agents at our firm spend 20 percent more time consulting with consumers than at other agencies as a result of our proprietary dialing system,” Farro says. “Our system uses a set of dynamic algorithms with the capability to analyze and direct live transfer leads to our licensed agents by state and availability, resulting in a higher percentage of potential customer acquisitions.”
The dialer, which took eight years to develop, can handle up to 100,000 calls a day. Lighthouse processes roughly 30,000 a day, 6,000 of which go through a screening process to be narrowed down to 600, which are turned over to a full-time agent at Lighthouse Insurance’s Cleveland and Irvine, Calif., sites. Each agent is licensed to sell the major health care insurance brands and can also assist with the Affordable Care Act.
“That’s another feature that differentiates us from other insurance agencies — our agents are all W-2 employees, not independent contractors,” Farro says.
Anywhere from two to five follow-up calls are made between the insurance agents and the customer until he or she is satisfied with the outcome.
The relationship doesn’t stop there, Farro says. The retention department works with the client over time, reviewing client needs.
“Our company culture is all about the client,” he says. “We focus on creating a highly valuable customer experience and our culture supports this mission. The numbers back it up. Lighthouse garnered national recognition for submitting 31,000 applications in the first nine months of operation. We also have a high rate of employee retention.”
The company plans to add property and casualty insurance to its offerings in the near future. ●
How to reach: Lighthouse Insurance Group LLC, (216) 393-1850 or www.Lighthousequotes.com
To learn more about Lighthouse Insurance Group LLC, like its Facebook page www.facebook.com/InsuranceQuotesFor1 and follow on Twitter @IQfor1.
