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EasySend’s enterprise-grade platform is built with the highest security and compliance standards, integrates with any internal system, and integrates third-party tools, apps, and services. This is following the conversation that CIOApplications had with EasySend’s CEO and co-founder, Tal Daskal, to understand how his company is reducing the friction associated with paperwork, and helping clients make customer data collection, processing, and product delivery enjoyable and straightforward.
What are the key challenges that CIOs face today in the InsurTech space, and how is EasySend effectively addressing these issues?
One of the central harsh realities CIOs face when modernizing their solutions is that insurance is a highly regulated industry that is heavily reliant on legacy systems. So, when looking at the InsurTech space, beyond selecting the right technologies from a wide spectrum of solutions, the two biggest issues CIOs face are integrations with internal systems and compliance.
We offer a simple integration through an API that is capable of connecting to any system. At the same time, EasySend’s no-code platform is built with the highest compliance and security standards.
Please shed light on EasySend’s enterprise-grade platform on the basis of its methodology, features, and benefits for the users.
The insurance industry is still heavily reliant on manual, paper-based customer-facing processes that must be digitized quickly. Traditional insurance companies now need to compete with agile, digital-first newcomers and InsurTech. Oftentimes, CIOs think, “How hard can it be? We’ll build it ourselves.” However, IT leaders often underestimate the complexity of the task at hand and don’t anticipate the issues that arise after the customer-facing digital journey has been deployed in production.
Today’s digital journeys are complex. When built with code, these journeys often take over a year to build, fail to address organizational bottlenecks, and remain extremely costly to maintain. When it comes to customer data collection that is required for core processes such as customer acquisition and onboarding, the process must be built many times with minor adjustments—making it a perfect candidate for no-code development.
EasySend is the only no-code solution in the market built specifically to address the issue of customer data collection in the financial services industry and insurance
Sadly, more often than not, only after developing a few processes in-house and wasting millions of dollars and months of delays, enterprises realize the pain of coded solutions and the value of no-code platforms.
Please cite a case study on how EasySend has enabled clients to overcome hurdles and attain desired outcomes.
Petplan, the industry’s leading pet insurance company with over 40 years of global experience, has struggled with bottlenecks caused by manual document processing. About 30 percent of claims submitted by Petplan policyholders require submission of supplemental medical records. Gathering these documents via e-mail and manually associating them with relevant accounts created significant delays in claims settlement. The process was lengthy, inefficient, and frustrating for the customers, as well as employees. By digitizing their claims solution with EasySend, Petplan slashed labor costs by 15 percent in 2 weeks. In addition, by eliminating inefficient manual processes associated with document collection, claim processing time was reduced by at least two business days.
Another example is Harel Insurance, which is the third-largest insurance group in Israel that is well known for its commitment to technological innovation. Harel’s team was looking to replace manual processes that required customers to print, sign and send documents back with a web-based eSignature product that would allow customers to sign documents remotely without having to download anything to their device.
With EasySend, Harel Insurance improved sales process conversions by 15 percent while reducing outbound calls to customers by 20 percent, resulting in significant OPEX savings.
What are the strategies employed by EasySend to thwart the market competition? Also, what are the distinct features of EasySend/differentiating factors that give it a competitive edge?
EasySend is the only no-code solution in the market built specifically to address the issue of customer data collection in the financial services industry and insurance. Our focus is on building optimized digital journeys that impact the bottom line, not simply digitizing existing manual solutions. EasySend is a comprehensive solution to all customer-facing challenges. It transforms the way insurers communicate with their customers from the ground up, empowering true digital transformation and agility in a traditionally slow-moving space.
With a simple to use, no-code builder, EasySend enables business users without advanced technical knowledge to quickly build complex digital customer journeys without having to resort to lengthy and expensive development projects that strain internal resources. Data visibility and optimization tools help business leaders continuously improve the ROI of digital channels and boost efficiency, customer satisfaction, and revenues.
What does the future hold for EasySend?
In the current environment, insurers are being forced to go from having no digital customer support solution to migrating everything online with never-seen-before urgency. No-code solutions such as EasySend are uniquely positioned to help financial enterprises achieve just that.
After achieving a 90 percent market share in the Israeli financial services market, EasySend is now actively expanding in the US and Europe. The roadmap includes adding advanced features such as auto-optimizations, more flexibility in terms of design, and expanding the range of pre-made templates to help clients achieve even faster time to market with digital customer journeys.