We started with the end customer and worked our way into the Insurance value chain from there. BrokerLift was founded on the essence of engagement, far before we used it as a product name.
In 2016 we wondered why more retail brokers were not selling insurance online and questioned why this remained a tool only Direct writers could afford. We often mused that shopping on a Direct writer’s website would be like walking into a pharmacy that sold 1bottle shampoo, while across the street the Broker Store stocked 100s of variants for every hair type – that’s right, we believe Brokers can keep you looking silky smooth!
Our initial launch was novel, we enabled Broker’s to take their superior value proposition online. We provided an eCommerce store that could be “embedded” (yes, before that was an Insurtech buzz word) into a Broker’s online presence. Over 50% of insurance purchased by customers on a Broker’s website was outside business hours – Sunday night Tenants Insurance purchase to get proof of coverage to the Landlord on Monday’s move-in!
Our Marketplace of “ready to deploy” products features many great specialty products – they lend themselves perfectly to attracting online customers who need a quick solution (think: event insurance, cyber, boats, etc.). For a savvy online marketer they are perfect “loss leaders” to get a new customer into the Brokerage.
In 2019 we leveraged our growing expertise in building online point of sale interfaces to begin supporting Broker’s with programs, custom products and delegated authority. That year also saw our platform in use for a national MGA Broker Portal.
Today BrokerLift transacts $100s of millions of premium across three countries B2B and B2C. The Engage platform can be added to a technology ecosystem to play a specific transaction role or act as your record of risk Policy system integrated to your finance system.
The next chapter in our story, as will be yours, is preparing for an AI powered future. With 10 years of transaction data, 150+ of product builds, API/microservice architecture we’re very bullish on AI supporting distribution innovation.
