FullCircl marked a significant milestone, celebrating the first anniversary of its SmartBroker facility, a game-changer for British Insurance Brokers’ Association (BIBA) members.
Launched in August 2023, SmartBroker was launched for BIBA members and quickly became integral to brokers’ operations, especially after its seamless integration with the Acturis platform in October 2023, it explained.
The launch and subsequent integration were met with enthusiasm, with BIBA recognizing it as one of their most successful initiatives. The synergy between FullCircl, BIBA, and Acturis has harnessed the collective expertise and data analytics to fuel substantial growth opportunities within the Acturis ecosystem.
Reflecting on the past year reveals substantial advancements for the broker community in the UK. A total of 20 BIBA members now utilize the SmartBroker facility, most achieving engagement scores above 70%. The return on investment metrics are equally impressive, with new opportunities yielding an average return of 6.11 times the investment. Data quality enhancements and time savings have also seen exceptional returns of 43.9 and 4.9 times, respectively.
The SmartBroker system processes daily insights on 5.3m companies and delivers 3m email alerts annually, significantly reducing compliance costs by over £600k for brokers. Additionally, CPD-accredited webinars have reached peak satisfaction, scoring 99.64%.
The partnership with AVIVA, introducing the Club 100 facility, underscores FullCircl’s innovative approach. This trial, offering 6-month paid access, exceeded expectations with 110 brokers signing up, showcasing the platform’s ability to help brokers secure local business independently.
Over the past 12 months, FullCircl has democratized data access across the broker landscape, enhancing precision in prospecting, client retention, and compliance duties. The SmartBroker solution has refined customer targeting and supported brokers in offering tailored policies.
Automation has streamlined operations significantly, from form pre-population to enhancing data accuracy, which in turn has expedited quote delivery and reduced administrative burdens. Brokers benefit from improved onboarding processes as well, thanks to automated checks that enhance client interactions and compliance adherence.
Customer relationship management has been revolutionized through real-time data integration with Acturis, helping brokers maintain and grow client relationships effectively. This integration aids in life-cycle management and upselling opportunities, reinforcing brokers as trusted advisors.
Furthermore, enriched data has improved interactions with underwriters, ensuring detailed and accurate underwriting submissions, which benefits both brokers and clients by providing tailored policy outcomes.
As FullCircl continues to pave the way for future broker achievements, its commitment remains strong—ensuring brokers thrive with advanced tools and compliance solutions, ready to meet tomorrow’s challenges.
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