Have you identified any inefficiencies in your business’ software which delay brokers’ dealings with clients?
What features would you like to see incorporated into broking Insurtech software?
In this episode of the Insurance Broker Podcast, we’re very pleased to be speaking with Nick Jordan, Managing Director of Nuworks Ltd, an Insurtech business providing new digital solutions for the industry. In conversation with Boston Tullis’ Sarah Myerscough, Nick discusses the company’s new softw...
Have you identified any inefficiencies in your business’ software which delay brokers’ dealings with clients?
What features would you like to see incorporated into broking Insurtech software?
In this episode of the Insurance Broker Podcast, we’re very pleased to be speaking with Nick Jordan, Managing Director of Nuworks Ltd, an Insurtech business providing new digital solutions for the industry. In conversation with Boston Tullis’ Sarah Myerscough, Nick discusses the company’s new software, BrokerCentral, a bespoke platform which aims to streamline the broking experience and thereby facilitate more impactful broker-client interactions. He explains the origins of the software, its various features and how Nuworks hopes to develop it further in years to come.
Quote of the Episode
“Software is there to serve you, you're not there to serve the software. Most software in our industry seems to have this thing where if you want things to work in the way you want it to work, then you have to jump through a lot of hoops, you have to kind of really dig deep into the system, or you have to pay a lot of money to have that functionality provided. With BrokerCentral… we’ve got a really strong focus on customer experience and user interface design, to make it really easy, so that we don't have to give loads of training.”
Much of the software used in the broking sphere today was designed by software developers with little or no understanding of the needs and desires of brokers. As such, many of these platforms are difficult to navigate, with complex interfaces that require a considerable amount of training to master, and with various inefficient design features that ultimately slow down the user experience. The software your business uses must be more of a help than a hindrance to your brokers.
Key Takeaways
BrokerCentral has been built over the course of a decade, with a considerable amount of feedback from various guinea pig businesses to test its effectiveness. The platform ultimately aims to smoothen communication and the transmission of information between insurers and brokers. Thus, BrokerCentral enables you to work more efficiently, and to prioritise finding the best coverage for your customers.
Furthermore, we are now in the age of data. Thus, data accessibility and functionality are crucial to a streamlined insurance service. BrokerCentral locates and logs readily available client data on the behalf of brokers, saving them time by considerably reducing the need for manual data entry.
Nick notes that, unlike other Insurtech products already on the market, BrokerCentral will never be ‘finished’ in a traditional sense. It will always continue to be developed, incorporating feature requests, helping to further smoothen brokers’ journey with their clients. Nuworks seeks to constantly push for further innovation, and therefore the software is not a one-time product but a continually improving service.
He states that the three main benefits of using BrokerCentral are:
- It allows your team to do more in less time
- It provides a user experience that you can enjoy rather than endure
- It enables you to do more for your own customers, instead of being bogged down with manual data entry
If you’re in any doubt, check out the demo linked in the resources below! You can also have a chat with Nick who will be exhibiting BrokerCentral at Stand G31 at this year’s BIBA conference on 11th May!
Nuworks is also providing an offer for any prospective clients at the BIBA conference and listeners of this show! While the company would normally charge a £1000 onboarding fee for the BrokerCentral service to cover the cost of building documents, this will not be charged at all for listeners or BIBA attendees who get in touch.
Best Moments/Key Quotes
“The whole point of BrokerCentral is to is to make it easy for brokers to do their work more efficiently, so that they can free their time up to do the customer service side of things and focus their attention on the things that they're really good at, which is keeping customers engaged and finding really good coverage for them.”
“We basically only ever present a list of questions that are relevant to the insurance that you've selected, and the kind of risk that you've inputted into the system. From that point, if you go to a portal, because all that information is now stored, you can just press a button, and it will just go down each field. And if it knows the information, if it sees a match, it will just enter it for you.”
“’What would probably take a half an hour to an hour before for a more complex risk now takes less than five minutes.”
Resources
Nuworks: https://www.nuworks.com/
BrokerCentral by Nuworks: https://www.nuworks.com/brokercentral
About the Guest
Nick Jordan is the Managing Director of Nuworks, an Insurtech business seeking to identify and facilitate ways of working in the insurance industry. With 10 years’ experience in and around the industry, he is an expert in digital solutions for brokers and insurers.
Nick’s LinkedIn Profile: https://www.linkedin.com/in/nick-j-jordan/
About the Host
Sarah Myerscough is the Sales and Marketing Director of Boston Tullis Group. The founder of The Insurance Brokers Podcast, she brings a wealth of experience and a fresh perspective on communication in the insurance sector. Boston Tullis works with insurance professionals to build effective communication both internally and externally through podcasting, event reporting, videography, and internal communications facilitation.
Website: https://bostontullis.co.uk/
Evaluation Link: https://s.bostontullis.co.uk/s/podcastevaluation
