Insurance Distribution

ICTA Nomination: Sharp Insurance Deploys an App and a Portal to Serve Customers Better

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2015 ICTA Nomination.   Technology by Sharp Mobile Technology Ltd.

Insurance brokerages across Canada are behind other industries in terms of technological advancements in client service's online tools. The main purpose of the iMobileBroker app and the BrokerScape portal is to give clients accessibility to their insurance details, anywhere and at any time. Most clients call into brokerages for pink cards or payments dates, or to submit a claim. Clients are able to do all of these transaction and more from their mobile phones or computers. The impact on brokerages is substantial. The call volume is lightened, allowing brokers to focus on the bottom line: Selling insurance and acquiring new business.

Information transparency and literacy is one of the most important signifiers of the 21st century. Insurance, however, falls behind in this respect. Sherif Gemayel observed this disconnect and spent several years developing technology that would create a bridge between insurance business producers and the needs of the client.

Sharp Technology limited, with Sherif at the helm, produced several versions of the iMobileBroker app, the most recent rendition is now available for sale to other brokerages.

mySharp was an app developed by Sherif and Sharp Mobile Technology Limited to be used by Sharp clients only. Interest from other brokers sparked Sherif to sell this app to brokers across Canada. Simply put, Sherif understands the difficulties other brokerages face against large direct insurance writers. The iMobileBroker app provides small brokerages the leverage they need to compete in the same sphere as companies such as TD Insurance and Allstate.

Most growing brokerages suffer from growing pains such as demands on service without having the resources in place to deal with such demands. The app provides a crucial aid for client services. Rather than wasting resources such as time and money on phone transactions for payments, pink cards, policy details and other insurance related service transactions, the iMobileBroker app provides all of these services directly to the client.

What brokerages need is an advantage: that advantage is technology that a lot of direct writers do not have yet. Imagine; clients are able to view and print their pink cards directly from their phone rather than waiting on hold.

With testing carried out by Sharp Insurance with the mySharp app, the results were obvious: The app will reduce calls, help clients, and free up brokers to focus on obtaining new business. Sharp Insurance tested the app over a one year period and has found the app has reduced incoming calls by 27%. This is quite significant: freeing up time for brokers is crucial to sell and to obtain new business. Over three thousand clients have downloaded the app and use it regularly. Clients clearly want a self-service option for their insurance transactions. No one should have to call their broker to get a pink card: That should always be available online.

In summation, Sharp Insurance is a visionary business. By observing the insurance industry, a serious lack of online tools for clients in the insurance industry was noted. Sharp spent years developing the mobile app with some of the most talented developers in the industry. Two years later, the app is a proven success for the operations at Sharp Insurance, and now has a waiting list of brokerages who want to subscribe to the technology. Innovation, by its very definition is the act of introducing new things.

About Sharp Insurance

Sharp Insurance is one of the leading insurance companies in Canada. Traditionally, the insurance industry has been notorious for its client service inefficiences. Sharp Insurance was formed as an idea of an insurance firm that would be more agile, more flexible, and offer clients faster and better service. An insurance firm that would work according to the needs of the client and not those of the brokerage.

Sharp's philosophy is simple: better, more efficient service. We take a very different approach to insurance. Instead of relying on old media, we have embraced new media. Our clients are everywhere, on social media, on search engines, and so are we. We are consistently striving to provide our customers with convenience and a better experience with technology.

For more information, visit sharpinsurance.ca.

SOURCE: Sharp Insurance


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