LIFE INSURANCE, INSURANCE TECHNOLOGY
PRnewswire | May 26, 2023
Sproutt, the life insurance company that modernizes life insurance for agencies, agents, and their customers, has announced the development of a groundbreaking AI engine, currently available only to limited groups, to boost its SmartLife platform. The platform's capabilities will be supercharged by generative AI technology, empowering agents and agencies with more predictive product fulfillment and "first in the industry" client engagement capabilities based on Large Language Models (LLM) technology. The introduction of AI will revolutionize the way agents interact with clients and marks a significant milestone for Sproutt, further demonstrating its commitment to providing cutting-edge technology solutions within the life insurance ecosystem.
Sproutt's SmartLife platform is leveraging the power of generative AI to create unique and personalized client communications based on multiple data sources and previous interactions with clients. By evaluating this data, the platform will generate relevant and timely content that agents can utilize to enhance customer engagement and sales. Events such as a client's policy anniversary, renewal date, birthday, and even local sports team news can be factored in to trigger precise communications. SmartLife's user-friendly interface enables agents to easily navigate and access the information they need to be successful.
The platform will also be boosted by AI driven product recommendations, employing multiple data sources to deliver tailored product solutions for each client. Predictive modeling capabilities will enable agents to anticipate future client needs, further elevating their potential. Leveraging AI for product fulfillment will overhaul the insurance sales process, increase STP rates, and effectively transform agents into experts.
"The goal is to arm agents with the best tools and technologies to help them build strong client relationships and supercharge their sales efforts," said Craig Shigeno, CEO of Shigeno Consulting. "By employing generative AI, agents will have instant access to personalized content that resonates with their clients, generating more effective outreach and saving valuable time."
"As we continue to expand our offerings, we see the SmartLife platform as a game-changer for the life insurance industry," said Yoav Shaham, CEO of Sproutt. "With the integration of AI, agents will have the ability to sell more effectively and communicate more efficiently with their clients, ultimately leading to greater customer satisfaction and increased sales."
About Sproutt
Sproutt is a life insurance company that modernizes life insurance distribution for agencies, agents, and their customers. Leveraging data and AI, the Sproutt SmartLife platform is set to reshape Life insurance distribution. The platform empowers insurance producers to efficiently assess risk, tailor policies, and enhance customer experience in the most effective and scalable way. Sproutt sells its policies through agents and brokers via its SmartLife for Agents and Agencies. Backed by State of Mind Ventures, Moneta VC, FinTLV, Guardian Life, MS&AD Ventures, MoreTech Ventures, Harel Group, Menora Mivtachim, Raptor Group, and Falcon Edge Capital, Sproutt's business operations are based in New York with an R&D center in Tel Aviv.
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CORE INSURANCE, RISK MANAGEMENT
Businesswire | June 05, 2023
Inszone Insurance Services, a rapidly growing national provider of benefits, personal, and commercial lines insurance, announced today that they have acquired Starline Insurance Group, out of San Jose, CA.
Starline Insurance Group, a Bay Area agency, has been delivering exceptional risk management solutions to its clientele, ever since its acquisition by the current owners, Corey Ebadat and Benjamin Lundgren. With a distinguished reputation for exceptional service within the insurance sector, this acquisition is set to bolster the resources available to Starline clients, while simultaneously augmenting the expert team at Inszone Insurance Services, who are dedicated to maintaining the highest standard of customer service and client support.
"It's a significant moment for us as Starline Insurance becomes an integral part of the Inszone family," said Chris Walters, CEO of Inszone Insurances. “Leveraging their comprehensive expertise in personal and commercial insurance, intertwined with our vast resources and robust carrier relationships, we're poised to redefine the way we create value for our clients throughout California. This strategic move marks an exciting chapter in our growth story."
The integration of Starline Insurance Group into Inszone Insurance Service's operations is expected to be seamless, and clients can expect continued access to the same high-quality insurance products and services they have come to expect, now with access to more resources and multiple physical office locations.
About Inszone Insurance Services
Founded in 2002 and headquartered in Sacramento, California, Inszone is a full-service insurance brokerage firm that provides a broad array of property & casualty insurance, along with employee benefits solutions. With a strong, experienced management team, Inszone continues to grow organically, as well as through acquisitions. With 42 locations across California, Arizona, Nevada, Utah, Colorado, Michigan, Missouri, Oregon, Texas, and Illinois, the company is looking to further expand throughout the United States.
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CORE INSURANCE, LIFE INSURANCE
PRnewswire | June 07, 2023
Policygenius and Labyrinth Financial Services (LFS) announced a partnership that leverages Policygenius' term life fulfillment platform Policygenius Pro to streamline term life insurance for LFS partners and simplify the application process for clients.
Policygenius Pro is a turnkey partnerships platform that helps advisors and financial professionals simplify the life insurance application process while providing a white-glove experience to their clients. With this tool, LFS partners can refer their clients to Policygenius to take them through the process, from finalizing policy selection to completing the application, gathering underwriting requirements, and placing coverage in force.
This partnership affords LFS and their partners significant time-savings by eliminating the need for internal case management while ensuring that they maintain insight into life insurance applications at every step of the fulfillment journey. For LFS partners, offering Policygenius Pro means that they can provide a more holistic set of financial protection services to their clients without having to sacrifice valuable face-to-face time.
"At LFS, our goal is to help our partners maximize their client-facing time and reduce the administrative burden of processing life insurance," Britt Cross, President of LFS, said. "Partnering with Policygenius Pro allows us to do just that while ensuring that our partners and their clients receive a superior experience."
With Policygenius Pro, LFS partners can access Policygenius' wide variety of insurers, coverage types, and policy options, including accelerated underwriting offerings exclusively available on the Policygenius Pro platform. Partners also receive support from an expert staff of 200+ dedicated specialists for case management, underwriting, and product support.
Partnering with LFS means that Policygenius Pro can expand their services to LFS's large breadth of partners, including broker dealers, wirehouses, banks and credit unions, financial advisory firms, and independent financial professionals. This helps Policygenius Pro continue to diversify its partnership base and reach clients from a variety of financial planning backgrounds.
"The commitment LFS has to providing a superior life insurance experience for its partners and their clients is a great example of what teams can do with Policygenius Pro," Jennifer Fitzgerald, President of Policygenius, said. "We are thrilled to expand into their ecosystem of partners and work with their team to save their case managers time and provide a smooth application process for their clients."
To date, Policygenius Pro has helped partners cut placement times by half, on average, and reduced the average time an advisor spends on an application from 2.5 hours to 15-20 minutes.
About Policygenius Pro
Policygenius Pro is a turnkey partnerships platform that helps independent agents and financial advisors accelerate and streamline life insurance sales. With this program, Policygenius provides its one-stop-shop insurance solution to financial advisors, independent agents, community banks, credit unions, and more, with the goal of helping partners' clients get the insurance coverage they need. Partners receive access to a wide variety of insurers, coverage types, and policy options, including accelerated underwriting offerings exclusively available on the Policygenius platform.
About Policygenius
Policygenius transforms the insurance journey for today's consumer, providing a one-stop platform where customers can compare options from top insurance carriers, get unbiased expert advice, buy policies, and manage their insurance portfolio, in one seamless, integrated experience. Our proprietary technology platform integrates with the leading life, disability, and home & auto insurance carriers and delivers an exceptional digital experience for both consumers and insurance carriers. Since 2014, our content, digital tools, and experts have served as a resource for millions of people on their insurance journey, and we have sold more than $200 billion in coverage.
About Labyrinth Financial Services (LFS)
LFS is a national insurance brokerage agency specialized in offering comprehensive insurance planning support and resources for individuals and groups of financial professionals. LFS has provided a best-in-class experience in the risk management space for broker dealers, banks, large agencies, and independents for over 20 years. Partner firms and financial professionals receive dedicated resources through point-of-sale insurance planning support, sophisticated solution design and all the additional services required to run a highly successful, well-rounded offering that includes insurance.
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