Intermediaries taking on advisory work
Take charge of your own business
Team RealXS offers Intermediaries the option to design insurance products, quickly and efficiently. Both old and new - innovative - insurance products can be installed and offered to insurers without the help of IT specialists. These products can then be administratively maintained, continued and offered directly or via sub-agents via a website.
Change of playingfield
The intermediary is used to insurers, authorised agents and insurance brokers having the leading role when it comes to developing and offering insurance products.
RealXS software offers them the opportunity to also take matters into their own hands.
For a good product, you can always find insurers or underwriters willing to act as risk carriers.
Intermediaries can register policies for business that has not been concluded within the back office. These policies are then taken out with insurers who have placed their back office elsewhere or manage them themselves on their own system. In that case, the product is not registered under label and then the licence fee of 5 pro mille is borne by the intermediary.
Policies under the intermediary's own Label
If the customer orders the insurance, the system prepares the policy. The policy can be made up under the Intermediary's label, but for each section, the insurers are explicitly mentioned.
In all cases, the insurer itself will have to endorse each acceptance through the digital underwriting register.
Signing of the policy does not take place until after an order for underwriting has been received from the customer.
Mobile phone linked to policy
In 2010, Adaptto installed a motor insurance policy in the RealXS back office, it was linked to the insured's mobile phone. All the data around the insured's driving behaviour then became the basis for the premium rate charged to the insured. Driving too fast, cornering at too high a speed, having to brake hard from time to time? All prompted the back office to adjust the premium.
Collectivities / Adaptto
Sometimes like-minded stakeholders find each other, as is the case with people who rent out their boat (Barqo) or people who want to lend or rent out their car to third parties (car-sharing.en) small premiums, but big flows.
And then the path to RealXS is quickly found.
New opportunities for the intermediary
The shortage of well-trained applicants is glaring. Also in the insurance industry. Outsourcing is an option that should be seriously looked at again, because:
- the robot-Underwriting;
- automated bid processing;
- integrated financial-administration;
- tailor made IPID;
- automatic policy formatting;
and digital-signing by the insurer(s) themselves, unprecedented new opportunities for an efficient approach in which the intermediary can play a greater role arise.