Questions for Sureify
What Does It Do?
Lifetime is a cloud-based engagement platform for life insurers that helps them engage their customers, from the point-of-sale through the life of the policy. Lifetime first provides a digital channel that effortlessly turns applicants into policyholders with a simple app process, consisting of automated underwriting and status updating for manual cases, so that more people who start life applications finish them. Once in-force, Lifetime begins engaging customers with challenges, educational content, and rewards programs tied into health and finances. Thus valuable personal data gets exchanged for an engaging customer experience. Lifetime’s ecosystem is also connected to a network of data partners (Human API, LexisNexis, Carpe Data, Sentiance, Rx, MVR) so when insurers use Lifetime, they gain access to a rich data network. Lifetime analyzes this data and thereby optimizes the customer-insurer relationship; when a policy is going to lapse, Lifetime automatically pushes reminders to policyholders; when Lifetime recognizes someone is in a new stage of life (homebuyer, newlywed, new parent, etc) it pushes relevant products to them.
What makes your company or product great?
In the digital age, insurers do not have a reliable mechanism for maintaining a lifelong relationship with their customers. Lifetime solves this. The platform gives insurers the power to establish a digital relationship with their customers, leading to higher levels of engagement and policy persistence.
Who is your target market?
Life Insurance companies
What's the typical ROI for an implementation of your product?
Sureify’s implementations are still in early stages but the key areas of business Lifetime is predicted to improve are new sales, persistence (Life insurance jargon for “retention”), and up-selling.
What is your best success story?
In Sureify’s very first implementation of Lifetime, we were able to take our customer digital in 90 days. The insurer’s internal engagement KPIs were exceeded, as over the course of 6 months, 37% of policyholders used the Lifetime app daily, 60% logged in at least once per week, and 71% logged in at least once per month. Furthermore, this implementation was successful without integration to the insurer’s legacy system, a major concern about digitizing across the industry.