’Our software is to help brokers work more efficiently,’ says founder
Insurance software provider Agiliux has told Insurance Times that it will be launching in the UK market.
The Singapore-based firm was founded in 2020 during the pandemic and focuses on commercial lines.
The insurtech’s software offers end to end digitalisation of brokers’ internal processes.
Speaking at the Biba Conference, Mohandeep Singh, founder of Agiliux, said it wanted to launch in the UK as there was a “broker driven” market that had “big potential”.
“Asian markets are not as mature as the UK, especially for commercial lines,” he said.
”But a lot of brokers are as digitally savvy as insurtechs are. We are different to other insurtechs – most sell policies, we don’t, we do pure technology.”
Digitisation
Singh added that digitisation was key for brokers as “they run the show” when it comes to insurance.
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“The broker runs the whole show,” he said.
”He must collect the risk details, talk to different insurers, get quotations and compare – there’s a lot of manual work.
”Our software is to help brokers work more efficiently.”
However, he felt that many brokers were not sold on using the cloud.
Insurance Times’ Digital Adoption report 2023, in association with Applied Systems, revealed that only 45% of brokers had invested in IT cloud infrastructure – a marginal rise from the 41% in 2022.
Singh said he was hopeful that this number would increase this year.
Interested in all things insurance technology and insurtech.
Writer of the monthly TechTalk section of the magazine and backchat. When not writing can be found doing yoga, at some kind of dance workshop, singing, globetrotting, or baking – not in any specific order.View full Profile
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