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in Editors' Featured, Podcasts

Project CAP 2013

Independent agents should be getting some help with their personal lines sales from the soon-to-be-launched Consumer Agent Portal.
CAP, also known as Project CAP, is backed by the Independent Insurance Agents & Brokers of America Inc. (IIABA) and six investor insurance carriers — and promises big changes. Its backers hope that when the consumer agent portal is launched, it should help the independent agency channel recapture and grow critical market share in personal auto insurance — a world that's driven substantially by digital marketing and sales.
Project CAP has had setbacks, acknowledges Charles "Chip" Bacciocco, the newly appointed CEO of Project CAP. The biggest has been the delayed live launch of the portal on TrustedChoice.com.
The portal was supposed to launch in 2012. But as of March 2013, it is still in development. Bacciocco would not reveal the total dollars invested by the Big "I" and its carriers on Project CAP but "a substantial investment has been made," he told Insurance Journal. Despite the delay, supporters remain committed to the project, he says. All six founding companies remain strong and active supporters of Project CAP, and today 18 carriers in total have signed up to participate in the portal. In this interview with Insurance Journal's Andrea Wells, Bacciocco discusses why the industry needs Project CAP and what's to come for the organization and the Consumer Agent Portal in 2013.

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