Having spent two years developing its online brokerage offering, Canadian company Surex Direct is now going after the direct writers of insurance.
In an age when insurance is just one of many industries feeling the sting from online comparison sites, pitching lower prices against the value add of a customized service, Surex has been watched carefully. But the company, which opened its doors in 2012, has always maintained that it is not out to eat the brokers' lunch.
Version 2.0 of the company's software, dubbed Brix, unveiled this week, claims to have taken the best of the direct market and the best of the brokerage market to create a product and service that appeals to all.
The online quote process enables consumers to preview bundled rates, purchase through e-signature and have instant access to proof of insurance documentation for the auto, home, business, life, travel, farm, ATV/motorcycle, trailer/RV, boat, condo and tenant insurance sectors.
Since its launch, Surex has claimed that over half its business comes from customers who would otherwise have used the direct channel and not a broker. In fact, the company says its setting a precedent for how technology can be used by brokers to do some of the grunt work of their business.
Significantly, the software pulls in comprehensive, full package quotes that can then be broken down, which goes against the model used by many comparison sites – that is to first quote the lowest available, but not necessarily the most suitable, rate.
The company said it's this outlook on transparent pricing that grants consumers the capacity to know exactly what their best policy price is, and what coverage is included for that price.
“We pride ourselves on being able to provide the best insurance rates, while ensuring the customer service and advice side of the business remains in the broker channel,” said Matthew Alston, COO & co-founder of Surex Direct “Our process empowers our customers. Our goal is to make all aspects of the insurance process as simple as possible for the people we work with and for.”
Headquartered in Magrath, Alta., Surex Direct claims to have has written over $35m in insurance premiums and provided policies for over 25,000 Canadians since 2012.
