Cambridge, ON (Dec. 11, 2017) – Gore Mutual Insurance Company has announced the launch of its Digital Sales API (Application Programming Interface), enabling brokers to quote, bind and issue Gore Mutual products directly from their own website or mobile app.
The company plans to expand its digital offering by rolling out at least 10 new API-based products over the next year, helping progressive modern brokers to reach more customers online with seamless sales experiences.
“We’ve taken our existing portfolio of competitive personal and small business insurance products and we’re reinventing the sales process for e-commerce distribution,” said Sachin Rustagi, Director of Digital at Gore Mutual. “Most APIs just enable quoting, but we’ve gone a few steps further by redesigning our underwriting questions, coverages and pricing for full online transactions.”
In conjunction with the launch of its Digital Sales API, Gore Mutual is also announcing the creation of an annual Initiation Fund to enable digitally-connected brokers to test new workflow processes and e-commerce opportunities. The Fund will be accessible by brokers using the API directly with Gore Mutual or through its e-commerce partner, BrokerLift.
“Our Digital Sales API gives brokers the ability to develop fully branded distribution partnerships and integrate with third-party point-of-sale platforms, and our next API launch will focus on customer self-service,” added Rustagi. “We’re always looking for new ideas and we’re collaborating with CSIO, digital brokers, industry associations, InsurTech start-ups and many others to bring this capability to life.”
The Digital Sales API is part of a wider digital strategy taking shape at Gore Mutual focusing on workflow automation, connected homes and digital sales.
“In 2017, we partnered with IoT leader FIBARO and launched several products on the BrokerLift e-commerce platform. Next year we’ll continue investing to stay ahead in a fast-moving digital market,” said Paul Jackson, Vice President of Sales, Marketing and Distribution at Gore Mutual. “We’re opening a Digital Lab with a focus on automation, and we’ll partner with a start-up incubator to accelerate the digitization of our business.”
Gore Mutual has a rich history of embracing technology and innovation. In the past three years, the company has modernized its core IT systems, launched new enterprise Business Analytics and introduced sophisticated pricing. In 2016, Gore Mutual was recognized as a Model Insurer and won the Digital and Omnichannel Technologies Award at Celent’s Innovation and Insight Day for its work in developing the first fully e-commerce commercial insurance platform in Canada.
About Gore Mutual
Founded in 1839, Gore Mutual is Canada’s oldest property and casualty insurer, with over $410M in premiums and over $1BN in assets as of December 31, 2016. Based in Cambridge, Ontario and Vancouver, British Columbia, this Canadian-owned and operated mutual company employs over 350 people and is known for its investment in people, technology and innovation. With a long-standing commitment to genuine personal service, and with InsurTech partnerships such as BrokerLift, Gore Mutual is an unwavering supporter of its network of insurance brokers, who offer the highest standards of service, choice and advocacy to Canadian customers. Gore Mutual was voted the #1 insurance company by the Insurance Brokers Association of Ontario (IBAO) in 2014 and certified as a “Great Workplace” in 2017 for the second time. The Gore Mutual Foundation strengthens Canadian communities by supporting local initiatives and has donated more than $10M to over 650 charities. Learn more about Gore Mutual at goremutual.ca.
SOURCE: Gore MutualTags: API, digital sales, Gore Mutual