1WordFlow is excited to announce the launch of Policy Power – the first end to end Digital Insurance Contract.
Every day, around the world, insurers create millions of individual policies for customers in much the same way they have for decades – a semi manual process that can take several days.
Policy Power completely transforms how insurance contacts are created, and enables Insurers to create a contract in just minutes, in four easy steps:
- Dynamically extracts variable data via API from the Policy system
- Auto-combines it with the standard Ts and Cs
- Applies jurisdiction-specific content and
- Electronically weaves these together into a Contract
Policy Power then performs 3 unique functions, It:
- Transforms each Contract into digital format (a website) in minutes
- Assigns each contract a secure URL, unique to the customer.
- Works at scale – 500 Contracts could be produced simultaneously
This transforms the Customer Experience. The customer simply logs into the Insurer’s Portal and instantly accesses their Policy which is presented as easy-to-navigate web pages.
And there are major benefits for the insurer in reducing costs and improving customer engagement.
1WordFlow CEO Bruce Wren commented “Our view is Policy Power is a game changer for the insurance industry. Customers expect an end to end digital experience – which simply has not been possible in purchasing insurance – until now. Policy Power delivers this experience for the customer – and helps insurers lower their costs at the same time.”
Find out more at https://vimeo.com/460365009
