An omni-channel distribution and automated underwriting solution

RiskDX is designed to empower advisors and provide an improved customer experience, with a personalized path-to-purchase.

Advisor Sales is about personalized service, expert advice, and relationship building, suitable for complex needs and those who prefer guided decision-making.

RiskDX has evolved the traditional advisor experience to make it simpler for the advisor with the tools the need to integrate advice and meet compliance requirements.

Many customers value the personal guidance provided by an advisor and there is still truth in the old adage “insurance is sold not bought”.

Advisor sales are typically better:

  • For complex products with differentiating options, and

  • When personal advice is beneficial.

Advisor

D2C

Direct-to-Consumer Sales emphasizes convenience, speed, autonomy, and potentially lower costs, appealing to self-reliant consumers and for simpler product needs.

RiskDX provides a guided self-serve quote and application with help when needed. So customers feel that are in control of the process and comfortable with the process.

Direct-to-consumer is typically better:

  • For simple products with limited options, such as non-renewable term life, or if

  • Advisors are not available.

The downside is the cost of advertising can be expensive, so you need a strong brand or an original idea to reach consumers.

D2C via Advisor is the best of both worlds. Responsibility to find customers is with the advisor whichever way they feel appropriate - advertising, networking or a combination of both.

The advisor will typically provide a quote and handover to the customer to complete the application. But this is up to the advisor as they can customize the sales journey as they feel appropriate.

This hybrid approach avoids pitching advisors against direct sales and works best:

  • For easy to understand products, with some differentiating features, and

  • For a broader target market.

D2C via Advisor

Switch between direct-to-consumer and agent led sales at any point in the sales journey:

  • Self-serve online application lets the consumer feel they are in control due to our intuitive user experience and support when needed. A self-serve application is incredibly easy, with most applications being completed in under 10 minutes from the start of the application to policy issue.

  • Advisors can use RiskDX face-to-face, over the phone, or as referral to their personal website. Applications in progress can be viewed as they are completed to provide help if needed, and the Advisor Workbench tracks and automatically follows up on applications in progress.

Omni-channel

Immediate Decision Algorithm

Our advanced automated underwriting system streamlines the insurance application process, enabling individuals to complete an online form and receive an offer for competitively priced, fully-underwritten insurance coverage in just minutes.

There's no need for a medical examination, no paperwork, and no delays. Applicants can make an instant decision and purchase their policy on the spot. Our efficient, human-free underwriting process leads to immediate approvals in up to 85% of cases.

Personalized Process

RiskDX is a complete distribution process from needs analysis to policy delivery, can be personalized by insurer, agency and agent. Advisors get their own personal URL, with their details and images they select to reflect their personality.

Smart Path to Purchase

Insurance is sold not bought – even online. That’s why we use predictive algorithms learn and optimize the sales process to maximize sales.

Insurance offers are tailored to the individual customer using RiskDX’s Path-to-Purchase Engine to present the most appropriate screens and determine nudges for upsell and cross-sell.

Analytics

Analytics are central to underwriting and application performance.

With RiskDX the insurer owns their data and any algorithms derived from their data. RiskDX’s embedded analytics dashboards are available to all users, alternatively out API’s can be used to extract data to your own data mart or data warehouse.

Integrated architecture provides better performance and puts control in the hands on the business users. RiskDX includes:

  • Automated Underwriting Engine

  • Advisor Management Console

  • Underwriter Workbench

  • Analytics BI Dashboard

Integrated Architecture