As published by The Insurance Age:
InsurTech Futures: Software house says product enables brokers to easier embed quote and bind functionality into a third party website.
Genasys Technologies has launched a tool designed to help brokers rapidly deploy their products to their customers through affinity and scheme partners.
According to the software house the tool enables brokers to easily embed an online sales and policy fulfilment capability into any third party website.
Craig Olivier, business development director at Genasys, said: “From the many conversations that we’ve had with UK brokers over the past year, it became clear that many of them faced a significant hurdle when it came to embedding quote and bind functionality into a third party website.
“And one of the biggest barriers to entry to integrating products into the likes of an affinity partner website was the ability to maintain control and management over pricing, rules and fulfilment documentation.”
Genasys stated that the widget is simple to deploy, requiring just two lines of code, and explained that the implementation process is very similar to embedding chat bots or Google Maps onto existing websites.
It added that all while the front end looks like the third party to the customer, all the administration happens on the Genasys platform giving brokers single version management of product, pricing, rules and fulfilment.
The software house further noted that the tool provides support for passing through campaign tags to track marketing spend and revenue generation from specific marketing campaigns.
It also facilitates greater data analysis enabling brokers to continually refine the product proposition and pricing in line with market trends.
Olivier concluded: “This new addition to our SKi platform will enable brokers of all shapes and sizes to get personalised products out to specific customer groups quickly, cost effectively and with minimal effort.”
South African tech specialist Genasys opened an office in London in March 2018, with the aim of shaking “up the provision of software solutions to the UK insurance industry”.