AF Group has announced a digital transformation in collaboration with Insurtech Talage. The new platform is launched to help agents sell more policies to small businesses. It does this by trimming the potential customer’s identification and data collection.
To enter the expected field, Insurtech innovation is needed as agents are not well trained to deliver the right product. VP of Fundamental Underwriters (an AF Group unit), Abel Travis said that when they were in the process of developing, they had talks with many of their agents. They discussed what they were chasing and why they were heading towards the types of businesses handled by them.
Coming to the solution, they looked for a platform where the entire process of selling insurances becomes more efficient using automation. Enter Talage came into the picture as a traditional online brokerage. However, the company wanted it to license its technology and not work as a distributor.
Also, the company is well known to the fact that businesses will grow efficiently by introducing the digital platform. The introduced platform uses insurance digital transformation technologies like APIs, automation, and third-party data calls.
Furthermore, this step will be a good advantage for the company in the wake of pandemic COVID-19. The project is expected to focus on independent agents and not direct organizations. On this note, Travis further added that the company was glad to launch their project after lockdown restrictions were lifted.
Moreover, this is because agents would be looking for methods to generate revenue in new business classes to fix what had been lost during the lockdown times.
