Insurance Xdate | Zywave MiEdge
WC Prospecting data/software comparison
Xdate | Zywave Miedge
WC data undeniably streamlines business development, which explains why there are multiple options out there. But do all these products offer the same value? We've highlighted some of our unique features and included what we've discovered about our competitors (along with what others have shared), so you can evaluate and compare them yourself. We've also compiled a data sheet if you're interested in comparing record counts.
WC Policy Data
Xdate
zywave Miedge
44 States, 4.9MM policies
What's important to us is actual WC Policy data. We have 4.9MM active policies across 44 states. In many states, this represents ALL businesses with an active WC policy.
11 States
AL, FL, GA, IL, MD, NH, NJ, OR, SC, TN, TX. Interesting because they do say, or at least sell it as 'All States'. Source: https://support.zywave.com/s/article/Common-Questions-and-Answers-for-MiEdge
Policy History
5+ Years of History
Buying patterns, rate and premium trends, BOR's, etc, only become visible when you have a historical view. Take advantage of it.
Current Term
(When available, see above)
Competitive Data Points
Exp Mod, LCM, Premium, Payroll & Agency
All data points that we have, and have limited availability due to state level regulations. But, if we say we have a data point in a given state, we actually have it, all available.
Big selling points for their product.
(We hear it is hard to find)
Interface
“I see a $75k Paver. The incumbent agent moved the account 2 years ago, expiring is a 20% increase. 2 OSHA violations. There are 4 contacts. My notes from last year’s call. All at a glance.”– Xdate Client
Terms of Service
Xdate
zywave miedge
Simple. We have a month to month option, it is limited, come and go as you please. We have an agency plan that is more expansive and requires a commitment. It easily scales by agent and state, we also have an 'all states' plan.
Annual. Easy. How much is it? Little murky? Package pricing? They'll still sell you the Content and Service cloud, without the Sales Cloud. Want to cancel it? Keep in mind their terms require 60 days notice prior to the renewal.
Market Understanding
10 years of experience- a lot to some and a little to others. What differentiates is the age that it occurred, 21-31. A few peers found 'selling' renewals (parent's book), I started at zero. Business owners need to perceive expertise and experience from their agent. You can't convey that at 21. So I found something intelligent to talk about that also directly impacts that business owner's bottom line, in a way they can understand.
A well-staffed, strongly compensated sales organization. But Producers, they are not.
Ownership
Bootstrapped
Bootstrapped and owned by two founders- a Producer and Developer combining 10 years of business insurance production with 20 years of development expertise. We started small, with a simple system, and let the market and technology advancements shape its complex evolution.
Private Equity
PE's primary objective is ROI. This shifts focus from product driven, to income driven. To seek economy of scale, growth through acquisition (listed on their About page, at least they own it), and packaging products (sans a seamless integration between the suite) with no consideration of improvement.
Generate Leads. Win New Biz.
