Many times, we do not realise a leaky bucket because we have the ability to constantly top it up with more water than what is leaking out.
Some do realise it, but can live with the knowledge… and honestly, there is no shame in that. Especially if it takes more effort to fix the leak than to top it up.
Whichever way you see it though, a leaky bucket is a problem; and every problem, especially a rampant one, calls for a solution.
Here at Surer, this is exactly what our co-founders saw – a leaky business bucket that many turn a blind eye to or pay huge (arguably, unwarranted) money to plaster over.
The entire vision of Surer is to empower the General Insurance intermediary with technology; to drive both better process management and higher volume of sales by automating administrative tasks and digitising traditional practices.
This Asia Adviser Network feature does a good explanation of such as well!
What this intrinsically does is to stop business leakage.
So, here’s some of the reasons we have heard that causes business leakage and why Surer could be the fix!
‘Wah this client ask so many things, want so many quotes. I only have one GI principal… too leceh. Forget it lah.’
While it is indeed too much of a hassle to expand the number of Principals just for a couple of deals, that does not mean that an intermediary should self condemn and not do the deal!
We hear a lot of Life Insurance focused agents sharing this with us.
However, they also share the want to help their clients, to the best of their abilities when it comes to General Insurance – as a service and to retain their client, if for nothing else.
Here, Surer seeks to enable intermediaries in similar situations to be able to work with other agents to expand their network of quote sourcing – essentially, leveraging a fellow professional for their resources and expertise.
Of course, we make it abundantly clear in our platform usage guidelines that due diligence is still required on the part of all agents to inform their clients of such and for the client to be left in doubt.
‘Too complicated lah. This GI is not my area of expertise. Forget it lah.’
We do agree that it is better to stay focused and specialise in certain segments, given how broad General Insurance can be.
However, an intermediary should not have to pass up on an opportunity just because it is outside of his/her scope of expertise.
Surer is all about advocating the power of the collective and process simplification.
Instead of giving up on a deal that is too complicated, our proposal creation process has in-built product forms that ask for ALL the information an Underwriter will need to give you a quote.
Basically, the forms act as a guide on the right questions to ask your clients for the coverage he needs.
After which, you can leverage the Surer network of agents to work with (similar to the point above) who might specialise in this segment.
What the intermediary can essentially do with Surer is to kick-start the process for their clients easily, instead of saying ‘forget it lah’.
‘This deal, how much only. Not worth the work. Forget it lah.’
It does make sense to weigh opportunity cost i.e. the amount of work one needs to put in versus the amount they can earn.
Which is why we find it so important to build a system that makes light work of previously tedious tasks, so that these supposed ‘small money’ is income that you can easily keep.
You will be surprised how said ‘small money’ could stack up to become BIG MONEY!
We want to ensure that you can do more by working less.
‘I don’t want easy money’, said nobody
No one has ever said no to this…
Knowingly, that is.
We have repeated this several times in the article.
If intermediaries can find an easy and streamlined way to work with each other, what can happen is the sharing of profits rather than no profits.
This is why one of the key features we have built is one that helps an intermediary get more referrals AND easily manage these referrals.
Once again, to protect the legitimacy of our solution, we are very strict about our platform usage guidelines and constantly manage this process to ensure due diligence is done by all intermediaries on Surer, to ensure the client (policy holder) is left in no doubt on this entire process.
Of course we are not saying that intermediaries are a stick in the mud and are resistant to change.
In fact, it has been really encouraging to speak to and hear from the vast majority who are looking to leverage technology to enhance their business.
However, we wanted to use this article to dish out some food for thought; we almost always instinctively see the value of improvements but sometimes, not so much that of fixing something.
What if you could do both at the same time?
If it means anything, we sincerely believe Surer can 🙃