The LOE Loophole: How Friction-Free Access Helps Solve this New Business Roadblock
More often than not, digital sales experiences are built only for the “happy path,” the simplest, most linear application flow. However, when an application requires additional information or involves multiple users, communication breaks down, mistakes creep in, and processing time skyrockets. This delay can stretch a traditional, fully underwritten application from a two-week process to six weeks or more. A hidden growth opportunity lies in simplifying and streamlining these complex, non-linear application experiences.
Eliminating Friction in Complex Cases
In new business, application ease and decision speed are paramount. However, when complex cases require additional details, agents are often tasked with preparing a Letter of Explanation (LOE). LOEs create yet another hurdle in their path to closing a sale. Worse yet, even when carriers offer a digitized LOE experience, unnecessary friction remains. Whether it’s requiring agents to access a portal from their computers, remember their login credentials, or upload the completed LOE, each extra step adds time and effort to the process.
The Power of Friction-Free Access
Sureify’s friction-free access helps carriers eliminate the most common LOE hurdles. Instead of making agents come to a portal, we meet them where they are. The LOE request is delivered directly to the agent’s preferred communication channel. Then, with a single click, they are brought into a secure digital experience to complete the submission. By reducing the number of required action steps, carriers can offer a smoother new-business flow, enabling agents to respond faster and speeding up underwriting decisions.
The “System of Nothing” Approach
Simplifying the LOE experience is just one example of how Sureify is applying the “system of nothing” approach to building digital experiences. We live in a world where delivering an omnichannel experience is rapidly becoming the bare minimum. Instead of struggling to get policyholders and agents to come to existing portals or systems, the “system of nothing” delivers the experience exactly where they are.
Check out friction-free access in action. Watch Sureify’s “Stop Being Difficult, Meet Them Where They Are” letter of explanation demo.