An investment in unlocking potential for our partners

On December 8 of last year, iptiQ Americas announced our acquisition of AccuQuote. Most companies then move on to integrate and leverage their newly acquired business behind closed doors. But for us, this was part three of an investment strategy that unlocks further potential of our business model - and opens up new capabilities to our partners - so in that spirit, we want to give you a peek inside. You’ll see that several investments resulted in a new unit within iptiQ in the U.S. called Sales Solutions. It brings a spectrum of new distribution capabilities to our partners.

When iptiQ, Swiss Re's insurtech division, set out to simplify the process of buying insurance - with the clarity and transparency people need and deserve - we knew it wasn't only about the insurance products and the technology platform. It is also about marketing and sales approaches that work best to bring them to consumers. So, we set up a small agency laboratory, USA Family Protection, in which we could test and refine sales and marketing strategies that we will share with our distribution partners.

In April 2021, iptiQ completed a minority investment in Bindable, which provides a state-of-the-art SaaS platform for distribution of Property & Casualty insurance. Bindable's range of products, carriers and channels has given us the potential to add P&C products to our offering for distribution partners that are looking for a solution in this space.

With the addition of AccuQuote to the iptiQ family, we now can offer an end-to-end Life & Health solution - including sales, marketing and agency capabilities - to iptiQ's and Bindable's B2B clients interested in an L&H solution.

This means more flexibility to adapt our solution to the needs of distributors and carriers we work with, and greater options for end-consumers to cover all of their risks in a more streamlined fashion.

The power of this three-part investment strategy is that it adds up to much more than the sum of the different transactions and capabilities. In combination, they are “iptiQ Sales Solutions,” a new unit within iptiQ in the U.S. solely focused on bringing a spectrum of distribution capabilities to our existing and new partners, so we can support in whatever areas are needed—while leveraging the best of what our partners bring to the table.

The other day, I spoke with Andy Wiggins who sells iptiQ offerings, and this is how he described the impact of iptiQ Sales Solutions on his ability to meet consumers' needs:

"It's important to me that I can help my customers get the full range of protection they need. With iptiQ behind me, I now have more ways to do that."

That's exactly what we were going for in our investment strategy. We wanted to unlock the potential of our offerings to help more partners bring simpler, easier, more accessible insurance to the market and close the protection gap. If you want to learn more, I'd love to talk with you about it. Please get in touch.