November 19, 2020
Bindable, the insurance technology leader for alternative distribution, today announced the launch of its Agent Wholesale Platform, a modern software solution that enables independent agents to launch their own virtual agencies and to seamlessly access and sell insurance products online, over the phone, or in-person.
The Agent Wholesale Platform is a white label insurance marketplace that allows agents and carriers to offer ancillary products such as pet, legal, and home warranty through a virtual agency without disrupting their current auto and home flow. Sites can be custom
branded and include a modified version of Policy Crusher®, Bindable’s proprietary SaaS platform and CRM. Use of the Agent Wholesale Platform will result in higher commissions and enhanced cross-selling abilities for agents, as well as better service for their customers. Cross-selling ancillary products is important for agents because it helps to prevent core auto and home customers from purchasing these products elsewhere and potentially switching over their auto and home insurance as well.
“Our focus has always been to continuously drive innovation in the insurtech industry. We’re proud to have created digital tools so that agents and their carrier partners can achieve more growth and better customer retention through product diversification,” says Bill Suneson, CEO and co-founder of Bindable. “With a virtual agency, they can do just that, and initiate more efficient transactions with consumers online or over the phone.”
COVID-19 has accelerated digitization, requiring agents to become more tech forward in their business practices. As the number of consumers completing transactions online versus in-person continues to climb, the expectation for digital access to insurance offerings has only increased. Research from Bindable shows that 93% of independent agents were in agreement that when it comes to purchasing insurance products, customer expectations are changing. Additionally, 76% reported that customer expectations around processes such as claims and payments being automated has increased, signaling a greater desire for digital transactions.
Bindable’s Agent Wholesale Platform is currently available in all 50 states.
For more information, please visit https://bindable.com/.
Bindable is the insurance technology leader for alternative distribution. Its proprietary platform brings together software, a digital wholesale marketplace, and a full suite of support services to offer flexible, market-ready solutions that connect insurance providers, trusted brands, and consumers. The company is headquartered in Boston, Massachusetts. To learn more about Bindable please visit http://www.bindable.com and connect on LinkedIn, Twitter, and Instagram.
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