Singapore-based Insurtech Firm Surer Releases New and Improved Version of its Platform

Surer has released a new and improved version of its platform that further tackles the top pain points of insurers and insurance intermediaries, driving greater efficiency in their workflow with each other.

The release of this new version comes off the back of a year’s worth of research, survey and user research interviews where Surer also saw over 100% year-on-year increase in the Gross Written Premiums (GWP) transacted via its platform since its launch in September 2020.

In one of such surveys conducted in August 2021, over 61% of insurance intermediaries surveyed indicated that one of their top three pain points is that of difficulty in getting multiple quotes for clients due to multiple systems by insurers. The other two of their top three pain points were that of ‘too much administrative work’ and ‘difficulty obtaining quotes due to slow or non-replies’.

“Since the launch of the first version of Surer in September 2020, we have continued to iterate on our solution. This includes reviewing over 2,000 insurance proposal activity on our platform, surveying over 300 intermediaries and conducting close to 40 hours of user research interviews. In doing so, we understand the needs of the industry a lot better and made the decision to commit close to 4,500 hours worth of engineering and product design work to build a new and improved version of Surer. The release of this new version promises to solve even more pain points of insurers and intermediaries in the industry.” said Derren Teo, Co-founder of Surer.

Insurance intermediaries using this new and improved version of Surer can expect access to key features like their very own ‘Digital Personal Assistant’, ‘Proposal Co-creation’ feature that smoothens their KYC (know-your-customer) process and more products that comes with ‘Instant Quote’ functionalities.

On the other hand, insurers can look forward to showcasing and distributing their products to intermediaries on Surer without complex technical integrations. This is enabled by an in-house ‘Product Builder’ feature that allows Surer to onboard products with instant quotation functionality within hours, on behalf of these insurers.

“Surer has always prided itself as a digital insurance ecosystem. This ecosystem includes insurers as well. While we have worked on highly technical integrations with insurers including the likes of FWD Singapore we understand many insurers are also keen to also explore less complex, ‘no code, low code’, solutions to move fast, get greater use-case confidence, before committing even more resources for full

integration. Surer’s ‘Product Builder’ feature allows insurers to be able to do so and capture value fast, at low cost.” Derren added.

The new and improved version of Surer is now available for use to all licensed insurance intermediaries.