1WordFlow launches Policy Power – The First Fully Digital Insurance Contract

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://1wordflow.info/digital-contracts/

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