A Digital Assistant Built for Insurance Advisors by Insurance Advisors

Finaeo, a platform built from the ground-up for insurance advisors by insurance advisors, officially beta launched today. Finaeo’s mission is to help advisors spend more time with their clients, focus that time on the right actions, and develop winning processes based on best practices by combining an intuitive mobile-first design with a powerful intelligence engine that learns over time. Finaeo is building an AI-enabled digital assistant and sales coach to help advisors build stronger client relationships.


“We believe the future of insurance advisors is the hybrid ‘bionic’ advisor: blending robo-advice, AI capabilities, and the necessary human touch. Insurance advisors are here to stay, but they will need to evolve to stay relevant,” said Aly Dhalla, Co-Founder & CEO of Finaeo. “Advisors are in an arms-race to become bionic. Up against them are robo-advisors, democratised product access, and generational mindset shift. Unfortunately, advisors have been ignored by tech companies. This keeps them underperforming, mired in back-office administration, and struggling to build the authentic relationships they need to keep clients happy.”


When looking at the insurance market, there are roughly 1M advisors working independently or for SMBs. This is the segment Finaeo is targeting, using primarily a bottoms-up approach. By automating back-office administration, generating data-driven best practices, and creating a client-advisor interface Finaeo gives advisors’ their time back and allows them to do what they do best: building relationships.


“It’s not yesterday. It’s not yesterday’s audience,” noted Howard Kettner, 30-year industry veteran, Benefit’s Genius, Founder and former CEO of GroupHealth Benefit Solutions. “Everything about prospecting, selling, servicing, renewals and referrals has evolved. And, that’s why using the tools that worked a decade ago – or even a year ago is no longer efficient or effective. I hear a lot of advisors comment about how our industry is becoming commoditized – and about how challenging it is to differentiate. It doesn’t need to be that way. The journey to creating a unique and memorable client experience literally starts with just a few keystrokes – and that is the magic of what Finaeo is providing. It’s simple. It’s easy. And, it works!”


How it works:
1.) Finaeo organises the advisor’s book of business, acting as both a digital assistant that keeps them prepared and on task, and as a sales coach that nudges them towards best practices. The goal? Save advisors time that they can better spend on building strong client relationships. On both mobile and the cloud, Finaeo is always at the advisor’s fingertips.


2.) Created as a vertical solution for insurance advisors, Finaeo keeps track of both product and client information, informing advisors of important upsell and cross-sell opportunities. Does a client own a term insurance product with a great conversion opportunity? Finaeo will let you know.


3.) Finaeo tracks the most important data insurance advisors need to run their business. From target loss ratios to a number of meetings it takes to turn a prospect into a client, Finaeo ensures that advisors are armed with data. Plus, Finaeo’s big data approach means that Finaeo can uncover trends and provide actionable insights.


Finaeo was co-founded by former insurance advisors in the group benefits space. As such, the tool is being built by people with deep vertical expertise and networks.


About Finaeo
Finaeo Inc. is a Canadian insurtech platform built for insurance advisors, particularly with a focus towards group benefits and individual/voluntary insurance. Finaeo helps advisors in these verticals automate their back-office administration by providing a digital assistant powered by a custom-built CRM engine. This combination uniquely leverages data to nudge them towards best practices, keeping them organized, prepared, and ready to sell, enabling them to focus on what matters most: Building Strong Client Relationships. Finaeo was co-founded by former insurance advisors in the group benefits space.