The following SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity. More about the SMART 100.
This innovation initially came to life when…
I started my own financial planning firm in 2010, with insurance for tradesmen and women being our target market. Insurance for tradies is quite unique in that the minimum requirements are set by the various state and territory governments depending on the type of trade. As we started to field enquiries from tradies, we noted that many of them had no idea of their insurance responsibilities under the relevant laws. As we grew our own knowledge by doing research on our clients’ behalf, we saw the opportunity to collate this information and create on online insurance resource for trade workers.
WHAT & HOW
The purpose of this innovation is to…
Help tradesmen and women to find out about the minimum insurance requirements for their particular trade in their state or territory, then obtain quotes by completing our intuitive online forms, and proceed to purchase the cover if they wish.
It does this by…
Providing an online resource which allows users to select their trade (e.g., carpenter, electrician, etc.) along with their state, and then obtain information on how much and what type(s) of insurance they are required to hold by law. Armed with this information the user can then complete our intuitive online quoting form, which is then submitted to us for processing.
PURPOSE & BENEFITS
This innovation improves on what came before because…
There is no other online application in Australia that allows tradies to quickly and easily find out about their insurance responsibilities, obtain quotes and ultimately get the cover. Previously a tradie would have to visit various government sites to find the info (easier said than done!) then try and find a suitable insurance broker to put the cover in place.
Its various benefits to the customer / end-user include…
Far less hassle! Tradies are very time-poor and don’t want to waste hours on insurance. Our service provides everything they need in one place and is backed up by a qualified licensed adviser who oversees all policies before they proceed.
COMPETITIVE LANDSCAPE
In the past, this problem was solved by…
Tradies having to waste hours of precious time chasing up government departments, then having to chase up insurance brokers in order to find out about their insurance requirements and then find a suitable provider. We believe this is yet another contributing factor to the chronic underinsurance issue in Australia.
Its predecessors/competitors include…
Other websites set up by insurance firms; however, we do not consider them to be direct competitors as they provide limited information which is very generic and is purely sales-focused. They do not provide the information that we do.
TARGET MARKET
It is made for…
Tradesmen and women who want to ensure they are fully compliant with the insurance requirements for their trade in their state or territory, and who do not wish to waste hours of their time contacting government departments and chasing up various insurance companies/brokers. Also tradies who want to use the convenience of the Internet, but want to be safe in the knowledge that a fully qualified and licensed financial adviser will review any policy for its suitability before it is issued, and that they can talk to that person either over the phone or in person if required.
DISTRIBUTION STRATEGY
It is available for sale through…
Our website at www.tradeinsure.com.au
Our marketing strategy is to…
Partner up with other Australian businesses who count tradies amongst their key clients. We provide these businesses with generous commission sharing options and co-branding opportunities. We also use Google AdWords and magazine advertising, and are about to start focusing on the use of Facebook and Twitter to spread our message.
SHOW YOUR SUPPORT FOR THIS INNOVATION
While the judging is now officially over, you can still show your support for this innovation in one of the following three ways:
- Hit the VOTE UP button: Top left of each page (Not available for IE users)
- Trigger a Reaction: Re-Tweet, Like on Facebook, etc.
- Leave a Comment: Share the love!
To check out the Anthill SMART 100 Readers’ Choice winner for 2010, click here.
