CALGARY, AB, JANUARY 18, 2023/insPRESS/ – Trufla is excited to announce that their industry-groundbreaking tool, Broker X-Ray, is officially out of beta, and available Canada-wide.
The beta trial results were better than expected, as the AI tool’s performance exceeded all expectations. Using deep learning neural networks, Broker X-Ray can scan a brokerage’s entire book of business and rank customers who are likely to cancel if they shop around at renewal. The tool’s performance in predicting cancellation was rated at over 90% accuracy.
The data gathered during the beta period showed that brokerages who used the tool to its maximum potential saw an approximate two percent lift in retention. Broker X-Ray also reduced one FTE time spent on renewal processes by 93%.
“Using AI and automation to help brokerages increase their profitability is essential as we head further into the recession and the ever-hardening market. A 1% increase in retention increases a brokerage’s equity and profitability by up to 20%, compounded annually, ” says Sherif Gemayel, CEO of Trufla.
Broker X-Ray’s Key Features:
- Categorization of cancellation risk levels (high, medium or low)
- View percent increase on renewals
- View which market will give customers a better rate
- Send automated pre-templated email messages to customers about their upcoming renewals
- Exports data
“Broker X-ray is just one powerful plug-in available to brokers in the even more powerful data insights and automation platform, truMobile,” says Gemayel. “
With truMobile, brokers can essentially optimize and automate customer service transactions, send templated and automated email marketing campaigns, send renewal or new business messages, and view crucial data and insights into their book of business that brokers never seen before.
“If brokers want to compete with the Amazons and direct writers of the world, they need truMobile to do the heavy lifting, so they can focus on growth and profitability. AI and automation are here to stay and in many cases is the future,” Gemayel added.
To learn more about Broker X-Ray, or to book a demo, visit https://www.trufla.com/broker-x-ray/.
About Trufla Technology
Born out of insurance, Trufla amalgamates real-life insurance experience with technology to create tools that enhance the distribution channel. With over 200 clients spanning the globe, Trufla’s aim is to be the technology that powers distributors to better compete and grow in an ever-evolving digital landscape. Trufla’s suite of products includes a data-driven customer self-service platform, sales and customer management, web and digital marketing, and AI powered data insights. With over 100 employees specializing in insurance, web development, AI, app development, and UI/UX, Trufla is quickly becoming one of the leading insurtech providers in Canada and the 2022 winner of Insurance Business Canada’s Best InsurTech Provider. For more information visit https://www.trufla.com/
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Director, Communications and Marketing