Confianza’s technology platform was developed to meet a specific need in the industry: the need for better, more comprehensive data and analytics to help in all stages of the insurance life cycle.
Upon identifying that limited information and analytics leading to misclassification and missed opportunities, Confianza set out to develop an advanced technology platform to modernize the insurance industry – empowering MGAs, Brokers, Carriers & Vendors with comprehensive data and machine learning prescriptive scores to help at point of sale, policy maintenance, and policy renewal.
Confianza's Insurance services platform is hosted in the modern cloud environment as powered by Amazon Web Services and its state-of-the-art security features. Designed to deliver insurance candidate insight leveraging the industry respected data analytic strategies of the Confianza database, Confianza’s platform supports every aspect of well-known Web development convention, including the REST API specification, making integration with its API available to all customers independent of their current systems’ selection of programming language.
Insurance companies face multiple problems when it comes to data integration within the modern insurance industry, including:
- Limited Vendors supply data information
- Antiquated data collection systems, with many systems built 30 years ago and not pertinent in today’s market
- Current systems cannot differentiate “non-claims” from “not founds”
- Policy and claims data are not linked
- Carrier contributions are not vetted for accuracy (up to 30% material errors or omissions)
- Carriers and their agent know little about the consumer at the initial point of contact
- Currently there are only two vendors that supply information causing a duopoly
Better technology. Better data. Better analytics. Better decisions.
Confianza’s revolutionary technology, comprehensive quality data and immediate prescriptive scoring offers an improved customer experience and profitable growth at point of sale, policy maintenance and policy renewal, with benefits including:
EASE OF USE.
70% reduction in manual effort for agents and underwriters
INCREASED SALES CONVERSIONS.
3x lead to bind conversion ration/premium leakage
25% reduction in cost of acquisition, improved report ordering