Sproutt, the life insurance company that uncovers the ‘hidden’ healthy aspects in everyone, today announced the launch of Sproutt SmartLife for Agents, enabling insurance producers in the US to offer life insurance products in the fastest and most convenient way. The new platform employs Sproutt’s propritary predictive Smart Routing technology to enable modern insurance producers to provide the best possible product to the most customers – helping close the ‘needs gap’ of 41 million Americans needing but lacking life insurance.
COVID-19 has not only caused a surge in life insurance, but it also helped accelerate the already rapid transition to digitalization. In a recent survey of independent insurance agents and brokers, 96 percent said their customers are looking for more digital tools than they were pre-pandemic. In fact, agents saw an 11 percent increase in customers making purchases fully online. Sproutt SmartLife for Agents bridges this gap by providing digital life insurance policies for consumers and sellers alike.
“During the pandemic, brokers and agents approached us directly, requesting that we provide them access to our platform,” said Yoav Shaham, CEO & Co-Founder of Sproutt. “and by Leveraging data from thousands of policies to inform our artificial intelligence technology, we were able to build a one-of-a-kind predictive sales tool for agents – we call it Smart Routing.”
In the wake of the pandemic, 58% of insurance CIOs indicated that they had increased their funding of digital innovation through 2025. This move to digital technology created new data streams, which led to seamless and faster purchasing of insurance for both customers and insurance producers. Sproutt’s Smart Routing leverages these digital resources to empower agents to make data-driven decisions that best serve their customers’ needs. The ability to predict in real-time the acceptance chances for a specific customer based on their unique attributes maximizes agents’ effectiveness while ensuring that each customer has access to the best insurance solution and optimal buying experience.
The use of predictive analytics and big data for rules-based Underwriting has modernized the risk assessment process in life insurance. This has led to faster policy issuance. As Sproutt’s Smart Routing technology matures, the company is able to introduce a new distribution paradigm: Sproutt SmartLife for Agents enables life insurance producers to provide for 95% of all consumers’ life insurance needs on one smart portal, wherever consumers prefer.
“We aim to provide our eIndependent Agents with holistic solutions to meet their customers’ life insurance needs.” Marty Mendoza is the Senior Director of eIndependent at eFinancial. “With Sproutt SmartLife for Agents, we’ve enhanced our digital offering to make it even easier for independent agents to provide their customers fast, easy, and affordable life insurance options.”
Sproutt SmartLife for Agents creates new advantages for agents including:
- Rapid risk assessment: agents can utilize Sproutt’s proprietary Smart Routing to best match a customer’s risk profile to the most suitable product, instantly improving their placement rate while also enhancing the customer experience.
- Dynamic customer solutions: Sproutt SmartLife for Agents enables agents to fulfill 95% of all consumers’ insurance needs by leveraging technology and offering instant decisions through fully underwritten products.
- Increased market penetration: Agents have the ability to sell their way using Sproutt SmartLife For Agents. This includes selling 100% digitally over-the-phone or on-the-go with their mobile device. Our customer-direct capabilities allow you to sell 24/7.
- Sproutt SmartLife for Agents saves time and increases revenue. It uses technology to speed up policy acquisition, which in turn saves agents valuable time. An all-inclusive solution for agents.