Things aren’t that bad, are they?
Okay, the insurance industry has come a long way since feather quills and parchment paper (arguably). But, if we want to achieve more value for our customers (the good bit), we need to work together to shape up our processes.
Here’s why.
It all costs bucketloads.
Paying for people to manage the DA process is pricey. Between 40-60% of annual premium is spent on managing the fragmented system.
The customers always lose.
The current system is disjointed which leads to a lack of decent risk information and collaboration to create good claims processes. You know, the bit the customer pays for?
Performance is lacklustre.
Breaches go undetected, data protection is all over the place, and no one has an oversight of portfolio performance in real-time. Erm, yeah, we could definitely be doing better with this bit.
It’s all a juggling act.
Loss funds are tricky to manage, huge sums of premium aren’t being reconciled. So, how do we try to deal with it all? Yep, you guessed it, waste more money.
Enter the Solution.
It’s us, obviously.
Picture this: more transparency amongst your DA partners, more clarity for the customer, more process regulation with less work. It sounds like nirvana, but it’s actually just a decent bit of tech.
Teamwork makes the dream work.
In this industry, collaboration goes a long way. So, we let you stay connected with new and existing partners to work on propositions and place them digitally (you know, like binders, but as you’ve never seen them before).
Stay in the loop.
Manage your DA partnerships in real-time (no more endorsements).
Now not later.
Get to grips with how your portfolio is doing and how your DA partners are performing now. Not in six months. Not when it’s all gone sideways. But, as it’s all happening. That way your actions will always be based on an accurate understanding of what’s going on.