Surer launches first-of-its-kind Instant Quote Marketplace build specifically for intermediaries

We are pleased to announce that we have successfully launched a first-of-its-kind Instant Quote Marketplace, where all insurance intermediaries who are users of Surer can gain access to insurance quotations instantly. The launch of the Instant Quote Marketplace will see our users gain access to selected products offered by participating insurers.

There is a mismatch in demand and supply of General Insurance because of a tedious workflow faced by insurance intermediaries and insurance companies. Licensed General Insurance agents in Singapore are allowed to represent a maximum of three insurers. However, only 9.9% of these agents represent three insurers. Insurers have been looking to leverage technology to enhance their engagement with this sales force. Our Insurtech solution provides a collaborative platform to help intermediaries get information faster and insurers to distribute their products more efficiently; essentially matching the demand with the supply.

Surer helps intermediaries save 95% of their time on product quote sourcing and 70% of time spent dealing with administrative processes.

“Surer helps intermediaries save 95% of their time on product quote sourcing and 70% of time spent dealing with administrative processes. The digitalisation of their workflow leads to greater speed and efficiency. With more time, intermediaries can increase their focus on prospecting and advising clients, including the 70% of uninsured or underinsured SMEs in Singapore. The launch of our Instant Quote Marketplace allows intermediaries access to instant quotations and furthers our value-proposition to the entire insurance ecosystem, where intermediaries can be more efficient in quote sourcing whilst insurers can be more effective in product distribution and recruitment.” shared Derren Teo, Co-founder of Surer.

In leveraging technology, these ‘supercharged’ intermediaries can work with their clients and insurers without time delays, enabling them to scale their services to clients and ultimately do more business with their insurers.

“In leveraging technology, these ‘supercharged’ intermediaries can work with their clients and insurers without time delays, enabling them to scale their services to clients and ultimately do more business with their insurers. Such a digital solution has taken greater importance for intermediaries in Singapore, given the restrictions in social interactions under the current Phase 2 Heightened Alert situation we are in currently.” Derren added.

Such a digital solution has taken greater importance for intermediaries in Singapore, given the restrictions in social interactions under the current Phase 2 Heightened Alert situation we are in currently

The Instant Quote Marketplace is available to all intermediaries with a Surer account.