Agency Nation’s Elevate “unconference,” set to take place March 24-26 in New Orleans, “brings together awesome people to make awesome things happen” for everyone in the independent insurance channel – from agents and brokers to insurance companies and vendors. Not only will the insurance industry get a behind-the-scenes look at the successful tactics of their peers, they will also learn what those outside the industry are doing to elevate the customer experience and more.
RPS is proud to be one of the sponsors of the Elevate conference, as we are passionate about enhancing our customer’s experience in part by changing the paradigm of the insurance process. For us it’s all about simplifying the insurance buying experience for both our retail partners and their insureds. Ryan Collier, Chief Digital Officer at RPS, will be speaking on this very topic at the conference during a breakout session. He and his team are at the forefront of our organization’s mission to revolutionize the wholesale insurance business by digitalizing all lines of commercial insurance.
With the RPS e-commerce platform, Ryan and his team have turned the traditional insurance process upside down putting the focus on the end user, the person writing the check. In a two-part Agency Nation podcast, “Let’s Make Insurance Simple” with Managing Editor Joey Giangola, Ryan discusses how complicated the process is for insureds to obtain coverage. There are the applications themselves that may, depending on the coverage line, include hundreds of questions. This takes hours of work on the part of the insured and a great deal of back and forth with the retail agent to get the app completed. Then it can take two weeks for the retailer to get a quote from the carrier and another 30 days to receive the policy [product]. RPS has been on a mission to change this, to create a frictionless process. Our Cyber product, for example, as Ryan explains, includes four simple questions that take seconds to complete and about two minutes to receive a quote and bind coverage. This makes it easy for the retail agent to sell and real easy for the insured to complete. It also allows RPS to achieve portfolio diversification for this product line and expand our book of business. You get small to midsize businesses to purchase Cyber insurance to address their exposure, which often don’t reflect the same adverse risk that Fortune 500 firms do while also writing these larger companies.
There are 13 products on the RPS e-commerce platform to date, simplifying an agent’s life and enhancing the customer experience. Plans are to have 100 products on the RPS platform to help the agents compete in today’s Insurtech world and provide instant gratification to customers who now have many online purchasing options through other channels. With a simplified process, robust products, strong protocols (top-tier carriers, responsive claims handling, etc.) and competitive pricing, RPS is removing the pain involved in insurance-purchasing and delivering value to both our retail partners and their insureds.
You can obtain more information about the RPS platform here. Hope to see you at the conference!