Sureify’s Apply & Buy: The Future of Digital Sales Engagement is Here
I am excited to announce the completion of Sureify’s Apply & Buy platform. Many insurers have been flirting with the idea of an automated application platform for years but have felt impeded by a lack of IT personnel and the sizeable resource allocation it may take to develop one. But insurers need no longer worry about such impediments because Sureify has done all the hard work for them. Now, insurers can just snap up the Apply & Buy platform for one low cost and receive a lifetime of IT support. Our software is also designed for easy third-party integration, allowing us to accelerate insurers’ time to market.
Sureify’s Apply & Buy is much more than just a digitally coded set of underwriting rules — it’s a sophisticated sales engagement solution, the kind of engagement solution for which Sureify has been rapidly gaining global renown. This means that besides supporting any underwriting rules, Apply & Buy has a digital application and quote system, agent portal with drop-ticket support (more on this later), and automated engagement messaging service. So, Apply & Buy not only returns on investment by increasing efficiency, but also by improving placement through better digital sales engagement.
Enter Malika, a twenty-nine-year-old software engineer. Much to her delight, she recently learned that she’s pregnant for the first time. Since her family will be expanding and she is the primary breadwinner, Malika decides to buy a life insurance policy to ensure her family’s security. Life insurance being outside her experience, she turns to friends for trusted counsel on how to proceed. Instead of allaying her fear that buying life insurance is too time-consuming, her friends relay experiences which only serve to increase it — tales of endless paperwork, distracted or overburdened agents, invasive blood tests, and layers of corporate bureaucracy leave Malika wondering if her hectic schedule will ever leave her time to purchase a life policy.
The next day, Malika goes to work still troubled by the overwhelming difficulty of buying life insurance that was impressed on her. Anxiously unproductive, she takes her pause-café earlier than usual. She intends to use the time to see for herself if there is no easier way to buy a policy than her friends had described. Scrolling through Google, she discovers that Your Insurance Company Inc. (YICI) has an online application process. YICI claims its application process is simple and straightforward and can take as little as fifteen minutes from start to purchase. Although Malika is skeptical, she decides to give it a try. She begins the application and finds the interface crisply designed, simple, and intuitive. Her normal cheerfulness gradually revives as she zips through pages of clear and relevant questions. She’s bemused that her friends described the questions on their paper applications as “exhaustingly repetitive and extraneous.” (Unbeknownst to Malika, the lack of repetitive or extraneous questions is due to the conditional branching technology of the Apply & Buy platform she is now using.) Then, a stumbling block. One-fifth of her way through the application, Malika comes across a page that she can’t answer without information from her husband. But she needs to return to work anyway. She closes her laptop and exits the break room. Upon sitting down to her desk, she receives a message informing her that her application is saved to the very question where she left off and gives her contact information for all further inquiries. Pleased once again, she returns to her work with a shimmering eye to concluding the application with her husband later that evening.
On the comfort of their couch, the necessary information having been pulled from a filing cabinet, Malika and her husband, Al-Farouq, settle in to complete the application. Everything is going swimmingly until they come across a series of policy ownership questions they aren’t sure how to answer. With little delay, they click the ‘connect to agent’ button and are immediately connected with an amiable agent who handles the difficult questions and uses drop-ticket support to pass the application back to them. The agent then tells them that given Al-Farouq earns a considerable income, albeit considerably lower than Malika’s, he should purchase a policy as well. “Fortunately for you,” the agent says, “Apply & Buy has a dual-applicant system, so I can process both your applications at once.” Malika and Al-Farouq see the agent’s point and decide to take her up on the offer. They end up completing two applications simultaneously and receive two policies at the end of it. Completely satisfied with their policies, and the brief 17 minutes it took to purchase them (including Malika’s time in the break room), the couple peacefully sinks into the couch and into Somnus’ sweet embrace.
In this scenario, Malika and her husband take advantage of Apply & Buy’s agent support system. Many people will need, if not want, an agent’s assistance during the application process. This is where the agent portal with drop-ticket support comes in. Using the portal, an agent can guide an applicant through the process step-by-step. The agent either telephonically or digitally communicates with the applicant while seeing each stage of the application as soon as it’s completed. If, for some reason, the agent is called away or is no longer needed, drop-ticket support allows him or her to pass the application, no matter what stage of completion it’s in, over to another agent or back to the customer. In effect, drop-ticket support is a labor distribution system to enhance workflow efficiency, and our agent portal is the powered armor, experimental serum, radioactive spider that transforms an ordinary agent into a super agent.
On the other side of the Apply & Buy coin is total automation. Many people will be able to complete the application without an agent’s help. In that case, all support and service is provided by the automated messaging service, which follows up with an applicant if she cancels the application, leaves it unfinished, completes it, or otherwise.
Sureify’s Apply & Buy increases efficiency as an e-app is expected to, but unlike its forerunners, it boosts efficiency and placement through its agent portal and automated messaging. Thanks to our partnership with Hannover Re, Apply & Buy is integrated with their AUS, hr | ReFlex, so potential buyers don’t need to worry about acquiring one. An automated application system is essential for the engagement omnichannel so many insurers want to assemble. Without this key digital sales engagement solution, ROI on insurers’ omnichannels will be suboptimal. There is a lot to love about our Apply & Buy and a lot I’m proud of, precious little of which I’ve been able to tell you. If you want to learn more, check out our one pager.