AGI continues to grow its digital-enabled platforms for insurance
• 2 min read
2020 has been a year like no other. Like most other businesses, AGI had to meet the challenges engendered by the coronavirus pandemic, which saw it activate its pandemic response protocols and business continuity plans. Nevertheless, the year also saw some exciting developments, including the expansion of AGI’s suite of digital-enabled platforms for a growing number of insurer and superannuation providers.
We have definitely experienced a greater demand for our services as insurers look to drive efficiencies in their administration, pricing and underwriting capabilities
Digital insurance platforms are on the rise
"While this has been a trend for a while, COVID has really intensified the push towards digitisation of services, with insurers keen to put infrastructures in place so legacy systems can connect with new technologies to improve customer experience," he added.
Australian Group Insurances first developed their online platform for SMSF insurance in 2009. This was followed by the development of a digital platform for the corporate SME market. The online portal provides an end to end acquisition to servicing solution which allows brokers to quickly and easily obtain quotes and bind cover. The platform also manages the ongoing servicing of the policy with a seamless integration to back end policy administration systems. In 2020, AGI was asked to quote and build a number of bespoke digital platforms to manage the distribution of insurance products across the life and general insurance market segments.
"In the future, we definitely think that collaborations between insurtechs like AGI and insurers and will continue to grow", said AGI Chairman John Felsch. "We think it will become mainstream because it’s such a necessity – customers just expect it," he added.
It is not just insurers, however, who are looking to thrive in the digital world – insurance brokers have also approached AGI for assistance in building broker portals to help administer their plans and better service customers. AGI is keen to partner with insurance brokers to enable them in their move towards streamlining, simplifying their systems by going digital. Dan Ebzery confirmed this. He said, "Brokers want to leverage their success with clients by providing them with digital services that, if well designed, enhance client relationships and spark further opportunities to meet other insurance needs or top up existing levels of cover. This can all be done efficiently online".