Platform combines consumer-permissioned insurance verification technology with custom forms, document uploading, and data enrichment.
BEAVERTON, Ore., July 30, 2024 /PRNewswire-PRWeb/ -- Canopy Connect™, the leader in insurance verification technology, today announced a significant evolution of its solution for insurance agencies that addresses crucial gaps in the insurance quoting process. Canopy Connect Insurance Data Intake Platform brings together Canopy Connect's core consumer-permissioned insurance verification technology and complements it with forms, document upload, and data enrichment. Insurance agents can rely on a single platform to collect and verify insurance data.
"The intake step of the insurance quoting process is cobbled together, lacks consistency, and is operationally ill-defined," says Ray Huang, senior director of marketing at Canopy Connect. "With verified data coming in directly from the carrier, you know it's accurate, whereas a typical intake form or phone call is limited to a client's understanding—or misunderstanding—of their policy."
Many insurance agencies lack a standard intake process to properly advise their clients. They rely on antiquated intake forms, having their client fill out dozens of fields on their own, or they collect the information over the phone. The data is unverified and often incorrect.
Larger insurance agencies depend on rigid processes to get the information needed to advise and quote a new client. They know that a declarations page has most of the policy information. However, they often underestimate how much time it takes a client to find and send the right documents. Agencies will hire teams of people just to handle the process of gathering the data, then deal with double-entry to input that into their other systems. This takes massive amounts of valuable time and resources, and tends to still lead to frequent errors.
"1.9 million insurance policies have been shared via our consumer-permissioned infrastructure," says Tolga Tezel, founder and CEO at Canopy Connect. "Adding customizable forms, document uploads, and data enrichment options makes this a complete insurance data intake solution for our 3,000 insurance agency customers."
How the Insurance Data Intake Platform Works
Insurance agents can easily send a custom link to a prospective client to start sharing their personal or commercial insurance information. This can be manually sent, but more often is triggered via an automation following a quote request.
Clients simply select their insurance carrier and sign in with their carrier credentials to share their verified insurance information with their agent.
Prospects can now alternatively upload their declarations page and other documents. Canopy Connect's new DecSight™ accurately extracts the underlying information in a declarations page and structures it into usable data.
After the initial submission, prospects can now be presented with a customized form to verify or gather additional information that you wouldn't get from the carrier.
In seconds, insurance agents will have a comprehensive view of a prospect's insurance profile—including policy data, declaration pages, and other documents, contact information, drivers, vehicles, enriched property and building data, claims history, commercial loss runs, and more.
Agents can further enrich the profile with household information, driver's license numbers, and driving records.
Canopy Connect's insurance data intake platform connects with more than 300 insurance carriers and is integrated into the most popular comparative raters, agency management systems, and CRM systems.
"Canopy Connect has been an extremely helpful tool for our office, making it so easy for my clients to share their insurance information," says Alex Meincken, partner at Clear Choice Insurance. "Adding these additional options to collect the information I need addresses any of my prospects' previous objections to using it and really completes my intake process."
Learn more about Canopy Connect's insurance data intake platform at: https://www.usecanopy.com/insurance-data-intake
About Canopy Connect, Inc.
Canopy Connect is the leader in insurance verification technology, giving businesses the ability to retrieve verified insurance information directly from insurance carriers in seconds and deliver data directly into other systems via API. Through its consumer consent-driven data sharing technology and secure cloud infrastructure, Canopy Connect's solutions allow insurance agencies, carriers, lenders, auto dealers, insurance innovators, and other businesses to deliver delightful, intelligent, and frictionless insurance services. Learn more at https://www.usecanopy.com
Media Contact
Ray Huang, Canopy Connect, Inc., 1 415-669-4646, [email protected], https://www.usecanopy.com
SOURCE Canopy Connect, Inc.
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