A 2021 ICTA nomination
Toronto, ON (Apr. 12, 2021) – Nude Solutions brokerage partners use our technology in two main ways:
- Additional revenue-generation tool: brokerages use Nude Solutions in tandem with their current BMS, to generate another revenue stream.
- Entire broker management system: brokerages switch from their traditional BMS to Nude Solutions. In addition to quote, bind, issue, change, cancel, and renew capability, brokerages have underwriting capabilities (pre-screening clients before writing risks), a built-in client portal, a marketing and sales integration (via HubSpot), and more through our platform.
Nude Solutions is on a mission to empower the insurance industry by leveraging technology. Our goal is to remove the pain and friction in the insurance process for brokers, clients, and carriers. Our platform is built by a team of insurance professionals and software developers, all on Canadian soil.
We have built a modern platform made up of eight fully integrated modules (more details below) on an infrastructure that is cloud hosted and API driven. Nude Solutions is committed to helping our brokerage partners survive and thrive in our evolving digital world by creating operational efficiencies and transforming the customer experience. We drive ROI, top-line growth and push bottom-line profit.
We value the relationships we have with our clients and nurture these partnerships by remaining steadfast in our values of collaboration and transparency. Lastly, we are continuously enhancing and improving the platform and are openly collaborative to implementing new features for an overall better experience.
The Nude Solutions platform was first implemented by Nuera Insurance in 2015. It was publicly launched for distribution in Canada on May 15, 2018.
The essential features of the technology:
- Bond is our user-friendly, digital BMS.
- Thru is the quote, bind, and issuance funnel with a built-in automated payment processor.
- Periscope is our API-tied underwriting module.
- Pocket is our client portal.
- Podium is our referral management module.
- Engage is our marketing and sales module.
- Insights is our built-in data analytics tool.
- Black is our accounting software.
Benefits:
- 50% increase in gross written premium (GWP)
- Brokers can write up to $3M annually using our platform. In comparison, a broker using a traditional BMS can write up to 1.5M in GWP annually.
- Over 80% decrease in policy issuance time
- Brokers and consumers using Nude Solutions can issue a policy in 3-5 minutes. On average, it can take a broker and consumer using a traditional BMS upwards of 30 minutes for the same task.
- 73% of clients bind insurance without a broker
- On average, 73% of clients who purchase insurance from a brokerage using Nude Solutions don’t need broker assistance. With some of our brokerage partners, this percentage goes up to 91%, leaving brokers more time to provide exceptional customer service and sell more policies.
- 33% increase in broker productivity
- This is just one of many data points from a recent study with a Nude Solutions brokerage partner. For more insights about this study view our “Partner Case Study” below.
- $146,000 in additional revenue earned
- A recent study with four brokerage partners showed that combined, they had additional earnings of $146,000. Many brokerages choose to use Nude Solutions in tandem with their existing BMS for the purpose of driving new revenue.
About NUDE Solutions
Founded in 2018, Nu Digital Experience (NUDE) Solutions is a Canada-based, software-as-a-service business. The Nude Solutions platform allows brokerages to thrive in our evolving digital economy by providing an online broker management system (BMS). Brokers and their clients can quote, bind, issue, change, cancel, and renew insurance policies from any internet-connected device. The platform is cloud hosted and driven by carrier application program interfaces (API). Nude Solution’s ability to connect to carrier APIs allows brokers and clients to get quotes for carrier insurance products.
Source: NUDE Solutions
Tags: API, Cloud, ICTA nomination, Nude Solutions, Nuera Insurance, platform
