Ansay & Associates is uniquely different because we’re helping transform an industry —insurance — that has historically been mired in navigating through archaic legacy systems. In fact, we are the first insurance agency to use a new technology called the Internet of Insurance, a collaboration with digital innovators DAIS (https://dais.com). We had complete alignment on the vision: to create a system in which agents, carriers and policyholders are connected in real time, 24/7, 365 days a year, through a cooperatively owned digital network.
Our collaboration revolutionized how we manage our business with insurance carriers by validating the concept of single-entry multi-carrier. This type of change was on the docket for 35-plus years, and now it’s a reality. The challenge for so long was working with the legacy systems within each individual insurance company. It hamstrung independent agents from marketing their business in an efficient way.
Our collaboration with DAIS created a platform of technology that allows us to use existing platforms from existing carriers and make them relevant, while expediting the process to create a breakthrough. The entire logic is to help independent insurance agents in their journey to digitize the industry. We thought to ourselves: In our personal lives, we see companies like Netflix delivering video streaming through microservices, so why shouldn’t we demand the same intuitive customer experience in insurance for policyholders and carrier partners?
The team here at Ansay & Associates is always looking at ways to improve the customer experience and reduce the cost on behalf of the customers. Our key relationships with carriers caused this innovation to be born. The big idea was to elevate the agent and streamline the process. We’ve accomplished that, but we didn’t rest there. After launching the Internet of Insurance and allowing carriers and customers to test the platform, we met at the Underwriter Innovation Council to discuss how to take it to the next level.
Coming out of that council, we upgraded the system to include several underwriting improvements, as well as a dashboard with a streamlined submission status and navigation capabilities. This version also benefits underwriters by allowing submissions to be managed with increased efficiency, and the ability to send email quotes and new data that more accurately predicts conversion rates.
With the latest iteration of the Internet of Insurance platform in 2020, Ansay & Associates has increased efficiencies by 25 percent. That’s allowed us to change job descriptions to focus more on innovation and increase the compensation of our customer experience advocates. We’re taking more processing out of the business and flipping it into proactive uses. In addition, the carriers that came on board with the Internet of Insurance at the outset saw 10 points more growth year-over-year. We expect even greater growth moving forward.
Company: Ansay & Associates
Innovation: Internet of Insurance
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