360F, top three InsurTech of the Year at the 5th Asia Trusted Life Agents & Advisers Awards, has entered the Middle East with a pipeline of projects and an anchor client, Zurich Insurance.
360F is a financial technology company that offers banks and insurers solutions and implementation services to enable digital multi-channel distribution models and automated financial advice for insurance and investment.
It has partnered with Zurich Insurance to launch a direct-to-customer engagement application, 360-NeedsProfiler, in the Middle East. Zurich's YourLife and YourCare digital insurance offering incorporate 360-NeedsProfiler, which is a highly interactive engagement tool based on actuarial rigour to help leads discover and prioritise their financial needs and risks.
"Retail consumers acknowledge that they need financial advice, but they don't trust financial planners easily," said Michael Gerber, CEO of 360F. " And the 20-30s especially are demanding and independent. They expect holistic, personalised, and unbiased advice. That's where we come in. We help make financial foresight accessible, and at the same time, deliver trust and improve grounds for engagement.”
360F's flagship solution, 360-ProVestment, does the computer-intensive work of stochastic simulation and optimisation to automate insurance and investment product recommendations, while making it easy for the layman to test alternatives and self-evaluate. The software also factors local regulations and makes hyper-personalised product recommendations based on the rules of each insurance company or bank that is deploying it, so that non-compliant products are filtered out.
Clarie Kwa, 360F's Chief Market Officer said, "With computing-intensive simulation and optimisation techniques on the back of Behavioral Science, we bring customer centricity to a new level. Because the solution offers product recommendations that are self-evidently apt, we help instil trust in the financial adviser, yet we also want clients to be able to check that for themselves."
Anthony McGonagle, Zurich Insurance's head of digital transformation, said,"360F's technological expertise, entrepreneurial spirit and divergent thinking is helping us to achieve our ambition to disrupt legacy insurance rational and behaviour."
The benefits 360F brings banks and insurance companies include helping to reduce the sales cycle, increase case sizes and minimise compliance risk.
The Asia Trusted Life Agents & Advisers Awards is organised by Asia Advisers Network and Asia Insurance Review, together with co-organiser LIMRA ad Strategic Partner AIA.
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