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Month: February 2022

Creating simplicity in a complex market

Posted on by System

Creating simplicity in a complex market

By Lauren Bagley

Simple products and services stand out. It has become a necessity worth striving to achieve in a complex market and within busy mortgage firms across the UK.

 

Creating Simplicity

So how do you go about achieving simplicity in your business? Simplicity is all about finding the right balance of what is necessary and what is not.

In the past, many advisers preferred to structure their sales process across several face-to-face client appointments. The pandemic forced a move to online meetings, which resulted in much improved efficiencies for both advisers and customers alike with many firms choosing to continue this approach post lockdown. This even led to wider benefits such as being able to return mortgage recommendations within a few hours of the call because of the time savings generated.

This is a great illustration of how simplicity has been created on such a wide scale, despite it being forced on us by a global pandemic. And, importantly, it makes the advisory community stand out.

 

Hiding complexity to create simplicity

Once you cut through everything in your business that isn’t necessary, the next stage is to look at what is necessary but repetitive.

This is where good technology solutions come into play, effectively hiding the complexity of most repetitive actions (that’s what it’s really good at), so the users only see simplicity.

As an example, Uinsure knew that asking lots of questions to apply for insurance was complex, boring, arduous and sometimes ambiguous. So instead, we decided to shed all the complexity of traditional providers, by only asking the critical questions and sourced the rest of the data from other places. This was a meaningful innovation because it simplified the experience of accessing insurance and hid the complexity to the end user.

In a world full of complexity, it is simplicity that makes a product or a service stand out. It’s therefore crucial that we understand how to balance complexity with simplicity and can implement this understanding in our businesses.

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Does perfect technology exist?

Posted on by System

Does perfect technology exist?

By Lauren Bagley

Have you ever searched for the perfect market technology of today – a digital tool or service that would instantly solve a problem or create value in your business?

You won’t be alone in your search for this, but does it exist?

Instead, what we’re experiencing is technology that is always progressing. Living in a progressive state means that nothing is ever finished. To put it differently, everything is in a state of “becoming”. For example, Uinsure’s technology is in a continuous cycle of progression and always in flux – one new development could create five more ideas and innovations. More broadly it means you, me, and everyone else will always be “newbies” in this evolving technological world, no matter our experience.

The mortgage market is undergoing enormous change brought about by lots of new technologies, increased regulatory attention and incumbents that are slow or have failed to evolve. What this demonstrates is that a perfect solution of today, which stands still, is not going to be perfect for long.

So when you’re deciding on a new CRM platform, sourcing system or other market technology, my only advice is to not only choose it based on the problems it solves or the value it creates today but also, and perhaps more importantly, choosing the partner that can demonstrate the most agility, flexibility, and continued evolution.

Since technology never stops improving, you’ll always feel like a newcomer. It’s also likely you won’t get to spend enough time with any technology to truly master it in its current form, so just get involved, try it out and embrace change as it arrives, because perfect technology will never exist – it will just get better and better.

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Uinsure celebrates silver at B&I Awards

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Uinsure celebrates silver at the UK Business & Innovation Awards

Uinsure collected the Silver Award at the 2022 UK Business and Innovation Awards in recognition for its Adviser Platform.

The award is further recognition for a platform that collected the Technology Innovation of the Year at the recent Tech & Innovation Awards.

The new Adviser Platform itself was launched in early 2021 as a result of an in-depth research and development phase with the goal to remove the complexities associated with general insurance.

Getting a home insurance quote was typically a drawn out, complex process that asked home owners upwards of 50 questions, many of which are difficult or impossible to answer correctly, meaning the end customer would always carry a risk of their policy being invalidated.

As a result, Uinsure developed its own technology platform, a revolutionary experience that allows general insurance to be quoted in just three questions, taking less than 20 seconds, helping to negate the risk of invalid policies but also to add speed, simplicity and transparency to the home insurance process.

Advisers are now able to receive an insurance quote across home, buy to let and non-standard by inputting just their client’s name, date of birth and postcode.

This hugely simplified journey impressed judges and has helped to recognise the insurtech industry as one of the most progressive in amongst some highly impressive fields.

Martin Schulthiess, Uinsure’s Chief Commercial Officer, said: “The recognition we’re receiving for the new Adviser Platform is testament to the creativity and innovation our team has shown in bringing our technology successfully to market.

“We do not ever view any of our technologies as finished articles and instead will always be working both behind the scenes and closely with our expanding network of partners to continually develop and improve further.”

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Uinsure awarded Defaqto Five Star rating

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Uinsure awarded Defaqto Five Star rating for the ninth consecutive year

Uinsure has been awarded the highest possible 5* Defaqto rating for the ninth consecutive year.

Throughout our existence, we have always placed massive emphasis on the quality of our customers’ experiences along with making sure they have the most comprehensive cover available.

Our Home Insurance product has been given Defaqto’s highest possible rating since 2014, while our BTL / Landlord Insurance product has also been awarded 5 stars since 2015. 

The Defaqto 5* rating is an integral measure in order for us to make sure advisers and their clients both have the confidence of knowing, should the unfortunate happen and a claim is needed, they will be properly covered by a comprehensive policy.

To demonstrate value and quality of cover to your clients over price, use the Defaqto compare tool here.

The rating is judged by Defaqto, an independent body, which considers all of the key features and benefits on offer, as well as any optional add-ons or extras, before giving an overall rating.

The aim of the service is to ultimately give consumers an impartial and easy-to-understand assessment of an insurance product to help them weigh up benefits before purchasing.

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