Teams up with Insurtech provider Easy2Life to accelerate end-to-end digital transformation of Brazilian insurers’ sales and distribution processes.
Leading global Insurtech solutions provider C2L BIZ and Easy2Life, the first startup to launch a fully digital sales journey for individual life insurance acquisition in Brazil, have forged an innovative partnership. This agreement enables the digital transformation of insurance sales and distribution processes in the country with the market’s most comprehensive solution: the SymbioSys Suite.
In a challenging economic scenario characterized by significant revenue generation pressures, the SymbioSys Suite enables insurance distributors with powerful functionalities to accelerate sales. These capabilities range right from lead and activity management to seamless electronic application submissions including field underwriting, which exponentially increase customer satisfaction.
Revenue outlook for the first year of this partnership is more than $0.5 Million. Estimated revenue will reach $4 million over the first five years. The typical set up price ranges from US$ 150k to US$ 400k depending on the SymbioSys microservices and scope. The associated timeline for implementation can range from 2 to 5 months.
“Insurers are often saddled with technical debt that leads to inefficiencies and siloed processes. Our focus is to get customers up to speed on the digital transformation front as quickly as possible,” says Vijay Chavan, the Co-founder and CEO of C2L BIZ.
The SymbioSys platform empowers Insurance distributors to seamlessly optimize customer acquisition journeys. It introduces an all-new focus on agility, distribution, and newer business generation opportunities. “Brazil is a dynamic and highly contested market due to high number of insurers. This makes it essential for insurers to accelerate insurance processes, especially in terms of attracting customers,” says the founder and CEO of Easy2Life, Carlos Alberto Trindade Filho. “In recent years, we had the privilege of closely monitoring SymbioSys software’s performance across the world. Leading global insurers have been able to reduce sales and distribution process turnarounds from days to hours using the SymbioSys solution,” adds the executive.
C2L BIZ’s customer portfolio features strong relationships with insurers across 12 countries. This client list includes implementations at 9 of the top 30 global insurance companies.
Insurers have been able to reduce new business acquisition costs (CAC) by 20% to 60% using C2L BIZ’s SymbioSys Suite. “Distributor productivity grows on average by 50% with use of the system,” observes Trindade.
In addition to acceleration of product launches and sales, insurers can utilize SymbioSys Suite to transform underwriting and claims management. It can also be used for optimization of campaign management and to offer more incentives to brokers.
Backed by its extensive knowledge of the Brazilian insurance market, Easy2Life is in discussions with more than ten insurers about the C2L BIZ solution — many of these discussions are at an advanced stage. The company expects to close three contracts in 2023, with its initial focus on the Southeast region. “At this early stage, we are looking not only at traditional insurers, but also at Insurtech businesses due to the exponential growth of this segment,” adds Vijay.
The C2L BIZ and Easy2Life partnership is an offshoot of eight months of extensive planning and negotiation. Trindade also points out that the C2L BIZ software has been adapted to fully comply with the General Law of Protection of Personal Data (LGPD).
Brazil and the rest of Latin America have seen advances when it comes to digital transformation of businesses – whether it is in back-office processes or improvement of after-sales services for customers. Despite these developments, the region “slightly lags behind the rest of the world” when it comes to digitalization of distribution processes, according to the CEO of Easy2Life.
“Our partnership with C2L BIZ brings end-to-end digital distribution transformation capabilities to insurers in Brazil. The country’s insurance industry is amid the next wave of digital transformation,” says Trindade. C2L BIZ and Easy2Life also plan to enter other Latin American markets like Argentina, Colombia, and Mexico.
About Easy2Life
Easy2Life is an Insurtech company founded in 2019, with its core focus on enhancement of the Brazilian Insurance Market’s sales and distribution capabilities. The company’s flagship product Easy2Life PRO is a SaaS application that caters to the digital transformation needs of Brazil’s Individual Life Insurance distributors. Easy2Life is led by Carlos Alberto Trindade Filho, an insurance industry veteran with over 30 years of experience. The entrepreneur is backed by an experienced digital team consisting of creative young professionals. This team is supported by reputed insurance industry veteran Ronald Kaufmann and Vanessa Kaufmann, who provides advisory services to Easy2Life. Learn more about Easy2Life at www.easy2life.com.br
About C2L BIZ
C2L BIZ Solutions is a leading Insurtech company with rich experience of over a decade in driving Insurance industry innovation. Its state-of-the-art product portfolio focuses on Digital Sales, Distribution Compensation Management, Underwriting, and Claims Management. Driven by the combination of domain expertise and focus on business outcomes, C2L BIZ has been able to transform the Sales and Distribution operations of over 40 Insurers across 12 countries. These success stories are powered by C2L BIZ’s highly configurable, low code, no code SymbioSys product suite. Insurance companies trust C2L BIZ to deliver technologically advanced solutions that improve competitiveness, customer experiences, and distributor management. Learn more about C2L BIZ at www.c2lbiz.com