This week’s article explores the effect of technology on schemes and how it affects them. With a solid understanding of such systems, you’ll be a schemes tech-whizz (if not already!) before you know it!

In today’s digital society most consumers expect to be able to buy online. Delivering online schemes has always been challenging with traditional software houses notoriously slow and expensive. Thankfully, in recent times, there’s been an explosion of web-based platforms offering online solutions at a fraction of the price.

But not all systems are made equal: functionality, flexibility, usability, scalability, stability, support, cost and even security all differ from one platform to the next. We always advise looking at a number of different options to make sure you find the system that works best for your business – both now and in the future – managed by a team you can trust. Switching platforms is time-consuming and potentially costly so it’s important to choose one that will grow with your business.

Once you’ve selected your platform there’s plenty to think about:

  • Planning – Don’t underestimate the time and complexity of online. Leave plenty of time to spec your product, design your site, build the system and complete your marketing before you launch.
  • Skills – The online market is distinctly different to the offline market. Consumers have different buying behaviour and more challenging expectations. If you don’t already have the skills, hire them in. Here, digital experience is more important than insurance experience.
  • Product and journey optimisation – Don’t assume you can take a product and simply replicate it online. The online consumer experience is fundamental in the decision to buy and optimising it may require changes to the product design as well as the order and format of underwriting questions.
  • Testing - Inadequate testing leads to problems later and can damage the trust between broker and insurer. Website errors also put off customers who are unlikely to come back if your site is down. It’s important to choose a partner that is flexible and quick to implement changes.

In conclusion, make sure you find a reliable and responsive software provider that can support your business and thoroughly test the system before launching it.

For more advice about getting your scheme online, including how to optimise your product, email us –