SafeHomes – GENRIC brings insurance innovation to the broker market
GENRIC Insurance Company has launched SafeHomes, a homeowners insurance solution backed by technology that is singularly focused on enabling brokers to meet the evolving demands of their clients in a world increasingly reliant on the internet of things (IoT). GENRIC’s SafeHomes insurance solution is underpinned by a tech platform that makes onboarding of new customers seamless and digitised and adds tangible, monetised value to broker business processes. Customers get a seamless customer experience that delivers cost savings and ease of engagement with instant access to every facet of their insurance solution.
“Until now, most innovation in the insurance sector has been internally focused and in many instances ends up being innovation with little direct value to the customer. What customers are interested in is the service and cost benefits and lifestyle enhancements that Insuretch can provide.
That’s where GENRIC is delivering on its promise of simplifying insurance and enhancing lifestyles, with added cost savings through ‘SafeHomes’. The ‘SafeHomes’ insurance solution brings together product solutions with customer-centric technology while retaining the increasingly important advice component in a world where risk has become more interconnected and complex than ever before,” explains Cornel Schoeman, Chief Operating Officer of GENRIC. Customers want to engage with their brokers and insurance products through a seamless suite of multiple service channels.
They want quick and easy access to their product portfolio, policy documents, endorsements, claims and so on, and they also still demand a high level of personal service and advice from their broker. This contact diversity makes the user experience that much more challenging, especially at a time where customer satisfaction and its impact on customer loyalty is more crucial than ever.
“SafeHomes is designed to bring insurance, risk management, advice and tech together, empowering the insured party to take greater control of their risk mitigation measures, which has a material impact of the cost of their insurance. Through the SafeHomes online portal, policy holders get to actively manage not only their insurance portfolio, but all the related home technology services in their own time, from any connected device. SafeHomes is premised in delivering technology solutions that save customers money and provide a real sense of ownership of their outcomes by empowering them to manage and mitigate their risks better. For brokers, a specific broker version of the portal provides a bird’s eye view of every client, their portfolio and claims. Most importantly, the platform allows for seamless and fully digitised client onboarding, quoting and administration which makes for an outstanding customer experience, and takes a lead from prospect to client in a matter of minutes,” explains Schoeman.
How does it work?
The introduction of utility, security and emergency management tools, interfaced to a self-service portal is at the core of the SafeHomes promise. It means that technology gets deployed in the customer’s home in a manner that underpins and supports the underlying SafeHomes insurance policy, putting the power of risk management firmly in the customer’s hands. They get to enjoy the benefits of real risk mitigation and avoidance of loss and resultant damage, self-determination, and they experience real savings through greater efficiency and smarter utility management. The following form part of GENRIC’s SafeHomes solution:
Transforming the customer journey
“Developing a more streamlined and personalised insurance experience for customers is at the core of what GENRIC does. As conversion rates decline, competition for new customers stiffens and the pool of insured individuals gets smaller, we believe that leveraging transformative tech that matters to customers and adds value to the intermediated model of insurance delivery. Advice and personal service provided by brokers is now given a significant technological edge, with brokers able to connect their clients’ present challenges to future solutions, today,” concludes Cornel.