Insurance policies go completely digital with Element and simplesurance integration

Source: Element

Berlin-based Insurtechs ELEMENT and Schutzklick Makler, a brand of simplesurance, are bringing fully-digitalized insurance policies to market.

For the first time brokers will be able to send their customers the desired policy immediately upon completion and without any exchange of paperwork. The basis for this is the ELEMENT API, a flexible interface that the cooperation partners have integrated within just six weeks.

"The future of the insurance market is digitization," says Richard Hector, sales director at ELEMENT. "The collaboration between simplesurance and ELEMENT is bringing this future a great deal closer." According to Richard Hector, the situation for brokers and clients has been rather unsatisfactory. The industry has been working with digital channels to manage customer profiles for years, however when it comes to issuing and sending policies, usually there is a break in digital channels and either the broker or customer mails contracts by post.

Thanks to the API, the effort is reduced to just a few clicks via a digital channel. Brokers can perform complex price inquiries in real time and find their customers the right insurance product within a matter of seconds. Afterwards, Schutzklick Makler sends the valid policy by e-mail and makes it available in the Schutzklick Makler app. "Our customers are used to simple, safe and fast solutions," says Sven Sch├Ânfeld, Managing Director of Schutzklick Makler. "The cooperation with ELEMENT raises this offer to an unprecedented level."

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