Agiliux - Empowering Insurance Intermediaries for a Digital Future
The insurance industry has been undergoing a significant transformation, fueled by the integration of modern technologies and innovative processes. While larger companies have been at the forefront of this digital shift, smaller players face challenges in keeping up, and the rise of disruptive Insurtech startups poses a threat to traditional insurers. However, one startup is on a mission to revolutionize the insurance intermediary space and empower traditional players to stay competitive amidst the changing landscape. Meet Agiliux, a pioneering company offering tailored software for insurance brokers, agencies, and banks.
Agiliux’s journey began as an offshoot of their earlier
startup, Second CRM. Having collaborated with a prominent Insurtech company
across Southeast Asian countries, the founders gained invaluable insights into
the transformative potential of technology in the insurance industry. Drawing
from this experience, Agiliux was officially launched in May 2020, with a
vision to empower intermediaries and reshape the insurance landscape.
The startup has spent the last three years in intensive
product development and collaboration with their initial customers. They have
successfully validated their products in multiple markets, serving 14 paying
customers across Malaysia, Singapore, the Philippines, Thailand, and the UAE.
Additionally, Agiliux is currently in talks with over 30 potential customers
from ten countries across Southeast Asia and the Middle East.
Agiliux offers four innovative products tailored to different
segments of the insurance industry:
1. Agiliux Retail: This versatile platform empowers
insurance companies, brokers, and banks to streamline their retail channels,
including direct sales through websites or mobile apps, chatbots, agency
portals, POS apps, and embedded insurance partnerships. Agiliux Retail also
provides an all-in-one customer support solution, equipped with a self-service
portal or app for policy status checks, claims submissions, and policy
renewals, supported by an omnichannel helpdesk system for efficient customer
support across channels.
2. Agiliux Commercial: Designed for both Direct Insurance
Brokers and Reinsurance Brokers, this comprehensive automation solution offers
end-to-end automation, from risk coverage requests to generating quotes, debit
notes, payment management, and integrated accounting. Additionally, Agiliux
Commercial provides efficient regulatory reporting capabilities and more,
empowering brokers to streamline their operations and improve efficiency.
3. Agiliux CRM: Providing a comprehensive automation
solution for internal sales or external agents, Agiliux CRM enables insurers,
brokers, banks, and independent agencies to streamline their operations,
generate accurate quotes, and track policy and claims information. This helps
them focus on delivering top-notch service and support to their clients.
4. Agiliux Chat: Revolutionizing the insurance
experience, Agiliux Chat allows customers to buy policies and submit claims
through an intelligent chat interface. Integrated with Agiliux Commercial and
Agiliux Retail, this creates a unified ecosystem offering personalized
recommendations and streamlining the entire insurance process.
With their sights set on becoming a game-changer in the
industry, Agiliux targets Insurance Brokers in Malaysia, Singapore, the
Philippines, Thailand, the UAE, and the UK. Their current focus is to empower
these brokers with their solutions, but they plan to expand to include Banks
(Bancassurance), small insurance companies, and independent agencies in the
future. Eventually, they might also consider non-insurance players like car
dealers and travel agencies who sell insurance.
The market potential for Agiliux is promising, with the
Global Digital Insurance Platform Market projected to reach $278.51 Billion by
2030, growing at a CAGR of 11.3% (2021-2030), as per Allied Market Research.
Within their target countries, they estimate a market size of approximately
US$200 million per year, with around 3000 brokers spending an average of US$60k
per year on digital solutions.
Behind Agiliux’s remarkable journey is a dedicated team of 20
members based in Malaysia and India, with plans to expand to 30 by the end of
2023 and further scale to 50 by 2024. The startup’s founders, Deep and Sarab,
bring a wealth of experience and expertise to the table. Deep, with a
background in Engineering and an MBA, and Sarab, with a strong foundation in
Science and an MBA, have been committed to B2B or Enterprise SAAS solutions,
particularly in Southeast Asia. Their previous ventures, Second CRM Cloud
Office Automation and Agiliux Cloud Insurance, have laid the foundation for
Agiliux’s growth trajectory.
In conclusion, Agiliux is on a mission to empower insurance intermediaries through their tailored software solutions, ensuring they remain relevant and competitive in the rapidly evolving insurance industry. With a focus on driving innovation and enhancing customer experiences, Agiliux is poised to play a pivotal role in reshaping the future of insurance intermediaries.
Whether you are managing an agency or being a broker yourself and are curious about digitally transforming your operations, feel free to contact us at +44 2039894470 (United Kingdom), +603 8687 4433 (Malaysia) or +65 6304 8022 (Singapore). and drop us an email at sales@softsolvers.com.
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