Agents and brokers, both in the insurance and financial fields, have managed to increase their revenue dramatically by utilizing a new Fintech technology that has recently been introduced to the Insurance Industry. The innovative online platform was developed by a globally known Israeli hi-tech public company called Gefen International A.I. (ASX:GFN).
In a nutshell, Gefen developed a unique platform named ‘Moments’ to connect brokers and agents directly to clients in a fast, easy and reliable manner. Subagent functionality has also recently been added to the platform. The Gefen platform provides brokers and agents with content generation, scheduled distribution, analytical insights, campaign calendars and notifications.
This functionality is driven in the background by specialized Artificial Intelligence (AI) and machine learning based on customer data and customer navigation. Brokers and agents who have been using this system claim they are now able to deploy and automate enterprise-grade technology with a full suite of operated-by-experts tools. This dedicated conduit allows brokers to grow their businesses and enhance rapport with their customers.
A major issue that plagues Insurtech is the myriad of compliance issues from multiple jurisdictions. Gefen has cracked the code for letting companies empower their brokers, agents, and consultants while still being able to apply quality control regarding compliance. In countries where the technology has been activated, the platform incorporates all jurisdictional compliance in the software.
Brokers and agents can now harness the power of AI-driven automation for continuously engaging with legacy, prospective and new customers without having to be concerned about compliance issues. Finally, brokers can also manage and control their online presence independently but in parallel with their partner insurance company.
Simply put, Gefen’s ‘Moments’ platform is a plug and play solution which seamlessly connects and generates new business for brokers and agents alike. The automation utilizes complex algorithms in the background, like a virtual representation of the broker. According to their website, broker/agents see a 50% increase in business opportunities.
Gefen’s model and AI technology is said to reduce costs and increase revenue for brokerage agents and insurance companies.
According to market analysts, the Gefen International AI (ASX:GFN) which is publicly traded on the Australian Stock Exchange is severely undervalued, and likely to explode as more insurance companies adapt to their platform.
Industry insiders claim that insurance companies who’ve yet to upgrade and deploy Gefen’s ‘Moments’ platform face higher operating costs and manpower expenses as agents manually spend endless hours researching the best deals on behalf of clients.
In laymen terms, the overall expense of insurance companies who have yet to adapt to Gefen’s platform are naturally passed down to the consumers expense, leading to higher retail insurance costs. As a result, industry experts advise both brokers and consumers to check with their insurance company if they are using the Gefen Technologies ‘Moments’ platform.
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