Toronto, ON (Mar. 31, 2021) – Finaeo provides life/health insurance with a complete digital ecosystem to power digital distribution from the insurance manufacturer, through brokers and to the end customer. For each stakeholder, Finaeo creates significant value.
Finaeo deeply believes that insurance brokers/advisors are the cornerstone of this industry and, to ensure that families are receiving both the advice and support they need, we must equip brokers with the technology to reduce friction and create efficiencies. To that end, brokers who work with Finaeo receive a digital toolkit that includes an insurance marketplace to search, quote, compare and apply for insurance products alongside a client management system which includes a compliance module, integrated/customized needs assessment tools, and secure document storage.
To help keep clients engaged in the digital journey, Finaeo provides brokers with a fully white-labelled “client portal”, which includes a digital onboarding/fact-find experience, collaborative document sharing and a “digital wallet” to store policies/applications from multiple carriers in one place.
Bringing this ecosystem to life meant developing solutions for insurance companies to remove friction in powering digital distribution. Finaeo’s no-code digitization toolkit allows carriers to create, configure, customize and launch digital products in real-time, without any API integration to their legacy systems. For those carriers who are ready, Finaeo can integrate via modern APIs to deliver a truly unique experience for brokers, increasing business opportunity and helping carriers become the “carrier of choice”.
For Brokers, Finaeo has taken a highly fragmented and analog process to a fully digital experience that is saving brokers hundreds of hours in a year. As an example, traditionally, insurance brokers take 45mins-2+hrs to complete product research, quote, prepare a sales presentation and recommendation letter. Using Finaeo, brokers have taken this down to 5-20 mins.
For clients, they have never had an “end-to-end” insurance experience that provides full visibility and transparency into the process. This is a true innovation.
For insurance companies, traditionally, it can take 18-24 months to launch a digital product and application. Finaeo has brought this down to 40-60 hours through our propriety iForms engine and no-code toolkit.
Finaeo is a high-growth insurtech startup revolutionizing the life insurance marketplace with an advisor-first digital platform. The diverse leadership team brings together deep industry knowledge and extensive tech experience, placing Finaeo in the #1 position to modernize the insurance industry. And with just 3 years under its belt, Finaeo is already challenging global industry standards and breaking down the barriers between advisors, clients and providers. For more information, please visit finaeo.com.
Source: FinaeoTags: Finaeo, ICTA nomination, InsurTech, InsurTech Spotlight, portal