Sproutt Launches SmartLife for Agents to Empower Agents with Predictive Life Insurance Sales Capabilities
New platform will enable the hundreds of thousands of licensed insurance producers in the US to offer life insurance products that are fully digital and bought within minutes
(New York, June 21, 2022) Sproutt, the life insurance company that uncovers the ‘hidden’ healthy aspects in everyone, today announced the launch of Sproutt SmartLife for Agents, enabling insurance producers in the US to offer life insurance products in the fastest and most convenient way. The new platform employs Sproutt’s proprietary predictive Smart Routing technology to enable modern insurance producers to provide the best possible product to the most customers – helping close the ‘needs gap’ of 41 million Americans needing but lacking life insurance.
COVID-19 not only led to a spike in life insurance demand, but also accelerated the already growing transition to digitalization. In a recent survey of independent insurance agents and brokers, 96 percent said their customers are looking for more digital tools than they were pre-pandemic. In fact, agents saw an 11 percent increase in customers making purchases fully online. Sproutt SmartLife for Agents is bridging this virtual gap, providing access to digital life insurance policies for both sellers and consumers alike.
“During the pandemic, brokers and agents approached us directly, requesting that we provide them access to our platform,” said Yoav Shaham, CEO & Co-Founder of Sproutt. “and by Leveraging data from thousands of policies to inform our artificial intelligence technology, we were able to build a one-of-a-kind predictive sales tool for agents – we call it Smart Routing.”
In the wake of the pandemic, 58% of insurance CIOs indicated that they had increased their funding of digital innovation through 2025. This move to the digital space created new data streams and led to more seamless, faster processes surrounding purchasing insurance for insurance producers and customers. Sproutt’s Smart Routing leverages these digital resources to empower agents to make data-driven decisions that best serve their customers’ needs. The ability to predict in real time the acceptance chances for a specific customer based on their unique attributes maximizes agents’ effectiveness while ensuring that each customer has access to the best insurance solution and optimal buying experience.
Predictive analytics, along with the use of big data and AI for rules-based underwriting, have modernized the risk assessment process for life insurance, leading to rapid policy issuance for consumers. As Sproutt’s Smart Routing technology matures, the company is able to introduce a new distribution paradigm: Sproutt SmartLife for Agents enables life insurance producers to provide for 95% of all consumers’ life insurance needs on one smart portal, wherever consumers prefer.
“We aim to provide our eIndependent Agents with holistic solutions to meet their customers’ life insurance needs.” said Marty Mendoza, Sr. Director of eIndependent at eFinancial. “With Sproutt SmartLife for Agents, we’ve enhanced our digital offering to make it even easier for independent agents to provide their customers fast, easy, and affordable life insurance options.”
Sproutt SmartLife for Agents creates new advantages for agents including:
- Rapid risk assessment: agents can utilize Sproutt’s proprietary Smart Routing to best match a customer’s risk profile to the most suitable product, instantly improving their placement rate while also enhancing the customer experience.
- Dynamic customer solutions: Sproutt SmartLife for Agents enables agents to fulfill 95% of all consumers’ insurance needs by leveraging technology and offering instant decisions through fully underwritten products.
- Increased market penetration: agents can sell their way with Sproutt SmartLife for Agents, including 100% digitally, in-person, over-the-phone, or on their mobile device. Sell 24/7 with our customer-direct capabilities.
- Save time and increase revenue: Sproutt SmartLife for Agents leverages technology to enable rapid policy acquisition, saving agents valuable time. A full end-to-end solution for agents.
To find out more about Sproutt SmartLife for Agents, please click here.
Sproutt is a new kind of life insurance company that uncovers and rewards the ‘hidden’ healthy behaviors in everyone. Using AI technology, Sproutt’s Quality of Life Index (QLI) assesses behaviors that reflect healthy living – movement, sleep, emotional health, nutrition, and overall lifestyle balance – to personalize life insurance policies for each customer. Sproutt sells its policies direct-to-consumers as well as through agents and brokers via its SmartLife for Agents. Backed by State of Mind Ventures, Moneta VC, FinTLV, Guardian Life, MS&AD Ventures, MoreTech Ventures, Harel Group, Menora Mivtachim, Raptor Group, and Falcon Edge Capital, Sproutt’s business operations are based in New York with an R&D center in Tel Aviv.
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