Business Category: A technology provider of InsurTech tools to insurance practitioners
Maturity Status: Startup (less than 3 years since product went into production)
Product or Service: Quotey Commercial Marketplace
Area: Property & Casualty insurance
Quotey is a software solution for brokers which transforms the commercial insurance sales process from end-to-end: enabling brokers to get multiple insurer quotes for their client in real time or ‘go to market’ in a smarter digital way.
What makes us an InsurTech:
Under the hood, Quotey consists of 4 components:
- Smart, digital application process: Enabling you to manage the information gathering needs of virtually any commercial client online.
- Multi-insurer quoting: Automatically bringing you multiple real-time quotes from our growing panel of insurers when your client’s circumstances qualify.
- Product comparison: Compare quotes at the click of a button and dig deep into the detail to ensure that your client’s individual needs are met.
- Digital ‘go to market’: If your client doesn’t fit our panel of digital insurers, Quotey provides intelligent recommendations and facilitates the process for you to send to market, track insurer responses, and include off-line quotes into your digital client presentation.
Throughout the process, the broker can choose what to share with their client at the click of a button.
Major features & technology used:
Quotey is a cloud based web application for brokers in a modern tech stack. Its processes are geared towards AI and include a number of predictive analytics components which can help brokers understand the quality of a particular insurer’s quote and value in a competitive marketplace at a glance.
- Taking the Pain out of Commercial Lines
Featuring Quotey – part of our Technology In Action series
Thursday, Oct. 13, 2022
Quotey was incubated and iterated inside one of Canada’s leading digital brokerages – in essence: “built by brokers for brokers”. Far from a tagline, this fact comes through very clearly in the feedback we receive from brokers who have seen and used Quotey. We understand what it is like in the commercial insurance trenches and the vast amount of complexity that brokers are expected to manage without the right tools. Our aim is to solve these problems: not only for brokers, but also for insurers and the end-customer.. For more information, visit quotey.io.
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