ABOUT
We are Sideral
As we recover from the 2008 credit crisis, insurance companies previously committed to direct distribution have been pressuring their agents with reduced commissions and excessively increased sales goals in an attempt to significantly lower expenses to compensate for increased capital requirements and loss of investment income. This has encouraged a voluntary exodus and shift to the independent distribution system.
While this is positive reinforcement of the evolution of the industry’s distribution system predicted by experts, at the same time, increased regulation of insurance agents and brokers has made it progressively more difficult for small independents to enter the market and existing ones to remain in business.
Sideral’s launch will concentrate on selling insurance products and services. Based on each country’s level of development and regulatory environment, the network will be extended to offer services for leasing and financing, travel packages, car rental and other areas where personal contact with an advisor adds value.
Sideral’s success will depend on the close connections between members and their clients. Members will retain their own brands and local independent legal structure. They will continue to conduct their businesses with autonomy, doing so under Sideral’s license, its position of strength, and its operating professional guidelines.
Clients can contact Sideral either directly online or through a member. Our websites will feature an online quotation tool which any visitor can access to generate offers and contracts. This approach provides a continuous source of new business for the members and avoids the anonymous call center, which will be replaced by direct contact with a local Sideral professional.