Product description
Layr is an AI-powered insurance platform providing faster access for small businesses buying liability insurance. We have created a new commercial insurance distribution model that allows businesses to quickly get the insurance they need. The process is completely online, all while paying for it monthly on a credit card.
Layr distributes its technology through insurance agencies and brokerages enabling them to have a highly profitable and scalable SME division. The technology allows their insureds (SMEs) to utilizes Layr’s proprietary AI and Machine Learning to automatically estimate the cost and recommend the coverage the insured needs by comparing them to thousands of similar customers with similar risks.
Layr core system (Base Layr) enables insurance agencies and brokerages to digitizes their SME division overnight by providing them with three core features:
- Modern and efficient AMS system where all the brokerages’ data is accessible to usable
- Insured (SME) management software providing the customer the ability to manage most of the transactional items of their policies online 24/7.
- Digital insurance capture (quote/bind) which allows the brokerage to become a digital broker overnight and without having to write a singe line of code.
Finally, Base Layr provides insurance agencies and brokerages the “base layr” of technology that will allow them to integrate with other insurtech’s APIs so that they can deliver their unique client (SME) experience
How does Layr simplify the process of buying insurance?
Our platform is different because:
- We give the confidence for the SME customer to make the decision on their own (if they choose) – through showing customers what thousands of other companies like them have purchased.
- We have simplified the whole process of insurance including quoting, bind and servicing (claims, renewals)
- Layr’s technology can also simplify program and affinity programmes. If a particular insurer has backed a programme for a broker, Layr's technology can be leveraged to digitize the quote, bind, and servicing
Key questions to ask yourself when looking to simplify the process of buying insurance
- Have you taken the fear out of the insurance purchase?
- Have you made it easy for broker?
- Do brokers retain their identity and client contacts?
- Have you made it as easy as possible to transact?
- Have you built “trust” into the process?
- Can you include behavioural prompts like: “people like you have done x”?
- Does the process clearly save money?
You can find out more about Layr by visiting our website, learn more about Base Layr, and reading our blog.
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