A major financial institution was challenged with high-touch manual and paper-based sales, fulfillment, and servicing for financial products, requiring bespoke relationships with insurance carriers. Additionally, there were also significant operational, regulatory, and compliance requirements for each transaction as it relies on telephone and in-person interviews which take weeks and results in a disjointed customer experience.
After partnering with Unqork, the company was able to develop a direct to-consumer, digital marketplace and end-to-end fulfillment platform for advisors and clients across financial products (e.g., life, annuities, retirement). The solution included automated compliance, suitability, policy delivery, and operational processes, to deliver a unified advisor and customer experience across a wide breadth of products.
• Speed to market in ~4 months from ideation to production with 80% less resources than traditional development
• Accelerated fulfillment time by 65%+ from weeks to 1–2 days and significantly reduced unit cost
• Opened doors to new demographics and markets resulting in increased revenue and improved client retention