Policygenius to simplify term life insurance with Impact

Policygenius, a tech-enabled platform for insurance shopping, has partnered with Impact Partnership, to simplify and streamline term life insurance for Impact’s advisors and clients.

Policygenius Pro, which was announced earlier this year, is a turnkey partnerships platform that helps advisors accelerate and streamline life insurance sales. With this tool, Policygenius said advisors and agents can refer their clients to Policygenius to take them through the process, from finalising policy selection to placing coverage in-force.

Impact’s partner network consists of over 200 constituent firms and 2,000 advisors. Policygenius said the partnership will save them time and energy helping clients secure term life coverage, whilst maintaining a high standard of its customer experience.

To date, Policygenius said Policygenius Pro has helped partners cut placement times by half, on average, and reduced the average time an advisor spends on an application from 2.5 hours to 15-20 minutes.

Jennifer Fitzgerald, CEO and co-founder of Policygenius, said, “Impact is an ideal partner for our Policygenius Pro platform. They’re an innovative FMO that experiences the exact pain point that Policygenius Pro is designed to solve: helping financial advisors and independent agents provide essential term life coverage for their clients, without the complexities and time-consuming process.

“The speed with which Impact has implemented Policygenius Pro and driven adoption shows how committed they are to better serving their advisory network and end clients.”

The InsurTech raised $125m in funding in March this year, which it said it wull use to bolster the growth of its life, disability, home and auto insurance.

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