Insurance Agents shall be affiliates to InsuranceMarket. Affiliates are able to direct customers to the products of Insurance Companies of their choice. Enrollment as an Affiliate in InsuranceMarket is free. The only requirements for an Insurance Agent to be enrolled as an Affiliate in the market are
a. The Agent must have a valid license from the regulator, the National Insurance Commission (NAICOM)
b. Affiliates MAY attend a training program on e-Insurance organised by InsuranceMarket. The cost of the training is N50,000 per delegate
Affilates are rewarded with a commission which is a percentage of the transaction value of the products purchased by the customers they direct to the InsuranceMarket. InsuranceMarket pay the Affiliates the commission and the vendors may also pay additional commission to the Agent for customers directed to their products.
There are other types of Affiliates in the InsuranceMarket who are not necessarily Insurance Agents. Such Affiliates are bloggers, websites owners and social medial users (Facebook, Twitter, Linkedin etc) who may want to put InsuranceMarket banners on their websites or social media pages and get rewarded for directing traffics from their sites to InsuranceMarket
The major difference between Agent Affiliates and Non-Agent Affiliates is the fact that Agent Affiliates direct customers to the products of specific insurance company of their choice and get commission from both InsuranceMarket and the Insurance company while Non-Agent Affiliates direct customers to the frontend of InusranceMarket.ng where products of all vendors are displayed and receive commission from only InsuranceMarket and not also from insurance companies.
To apply to be an Affiliate, please follow the following steps:
1. Go to insuranceMarket.ng
2. Click on “My Account” at top of the homepage
3. If you have registered as a customer before, sign in with your email and password
a. From “My Account” click on “Affiliate”.
b. If and when your request to be an affiliate is approved, an email will be sent to you
c. After receiving approval as an Affiliate, click on “My Account” and sign in with your email and password, an Affiliate panel shall be displayed.
4. If you are new to InsuranceMarket
a. From “My Account” click on “Register”.
b. From the “Account type” field, select “Affiliate” and fill the online form
c. If and when your request to be an affiliate is approved, an email will be sent to you
d. After receiving approval as an Affiliate, click on “My Account” and sign in with your email and password, an Affiliate panel shall be displayed.
5. From the Affiliate panel, you will be able to do the following:
a. Banners - You will be able to see different types of banners available for you to copy to your website, social media page (facebook, Linkedin, Twitter etc), or copy in email to your friends. Once the banner is clicked, the user is taken to the appropriate page on InsuranceMarket.ng, where he can see available products and make a purchase. The system already knows that the user was directed from you. For every activity of the visitor that got directed by you, you are rewarded and you can monitor your rewards from the Affiliate panel. There are 3 types of banner e.g Text banners, Graphics banners, Product Banners. You can copy any type of banner code and paste it on your website, social media page or email.
b. Affiliate plans – You can see your Affiliate plan which indicates your reward for each activity performed by the user you directed to InsuranceMarket.ng. The commission rates that goes to you for activities performed by the users direted to InsuranceMarket include:
i. Show Banner – Your commission rate for showing InsuranceMarket banner on your website, social media page or email to users. Just for the user seeing the banner you dispalyed
ii. Click – Your commission rate when the user clicks the banner to go to InsuranceMarket
iii. New customer – Your commission rate when the user registers as a customer on InsuranceMarket
iv. Payout sales – Your commission rate when the user buys a product on InsuranceMarket
v. New affiliate – Your commission rate when the registered user you introduced changes to an affiliate on InsuranceMarket
c. Account balance – You will be able to see the commsion earned by you for each day and your total commission
d. Commissions – You will be able to see the commission you earned for each type of activity performed by the user you introduced.
e. Payouts – You will be able to see and keep track of how much has been paid out to you as commissions
InsuranceMarket operates a free entry and free exit policy. Any Agent may choose to enroll in the market at any time and exit at anytime. The management of InsuranceMarket reserves the right to de-enroll any Agent that breaches its rules.