Sure, we would save money buying the dotcom domain for an alternative brand, but we also saw the long-term value of owning one of the most coveted domains in insurance. This struck us as the bigger opportunity.
We sell an intangible product and at the end of the day, we’re in the trust business. Owning Cover.com has lent an extra level of legitimacy to the brand and this, in turn, has translated into sales. We have seen firsthand how it helps get people over the hump when it comes to investing their money with us. Immediately after moving to Cover.com we saw our conversions rise, largely because customers would cross-reference our app on the internet before they made the purchase decision.
Read MoreIf you’re early stage and you’re just trying to figure it out, you don’t need to spend on an expensive domain. It’s a lot of money and, at that stage, you have the freedom to rebrand instead....
