Jay Morris

Jay Morris, previously worked on the vendor side but now runs advisory firm MOReCOMM Solutions. He said vendors need to reconsider the way they approach their TSB channels. Specifically, he questioned the value of partnering with a large number of TSBs. Not only do these partnerships cost money, but typically cases the TSBs are working with overlapping subagent bases.

“Look at what doing business with two or three TSBs costs. If you want some decent exposure, you’re not even going to get out of the gate until you write a check for $100,000. 90% of the companies doing business in the channel don’t have those kinds of budgets to pay marketing dollars for for TSBs,” Morris said.

He suggested that picking a primary TSB and perhaps adding a second one as insurance might be the most cost-effective way to go. 

“They all have the exact same agreements with the exact same providers,” Morris said. “I think you’re better off being a bigger fish with fewer players.”