Wellthie: A One Stop Shop for Insurance

D. Orlando Keise, CTO, WellthieD. Orlando Keise, CTO
Insurance carriers are increasingly seeking InsurTech startup partners to digitize processes and deliver value at a fraction of time, and cost of the industry standard; while also minimizing error rates, improving customer success, and effectively leveraging data analytics. In fact, 63 percent of carriers prioritize the use of customer data for needs-based selling and 66 percent prioritize enablement of salesforce with new tools. Thanks to the all-around expertise of the team at New York-based insurance technology firm Wellthie, managing insurance distribution is easier than ever. “We have transformed the way brokers find a plan that is best aligned with a prospect’s needs, by allowing them to quickly filter the various attributes and characteristics on screen in a single session,” states D. Orlando Keise, CTO, Wellthie. Lending credence to Keise’s words is the company’s state-of-the-art e-commerce platform that ensures insurance carriers, brokers, and policy seekers are on the same page by facilitating seamless transactions.

Wellthie’s cloud-based marketplace platform is built to simplify insurance sales by means of a personalized digital storefront. Built using Wellthie’s proprietary rules-driven technology, the storefront accelerates the pace of transactions between brokers and carriers, as well as insurance buyers. The regulations of different states have been built into the platform, which allows insurance carriers (and brokers) to cater to their customers in a frictionless manner. “Wellthie shrinks the entire sales cycle period for brokers from 50 days to under a week,” says Keise, adding that brokers can close the sale in a single call.

Wellthie shrinks the entire sales cycle period for brokers from 50 days to under a week

Wellthie directly partners with insurance carriers to help them manage their selling process in the fastest, and simplest way possible. The highly customizable enterprise solutions of Wellthie account for the different distribution models and organizational structures of carriers. Wellthie’s close relationships with incumbents allow the storefront to be extremely accurate in the quoting process and makes adjustments for the many rating nuances across the nation. “A lot of our intellectual property has gone into ensuring data accuracy, which is one of our key strengths,” remarks Keise. Moreover, functioning of the storefront is governed by the data ingested from multiple sources and allows insurance carriers to access and analyze the transactional information. Data, as a service approach of Wellthie, provides an unprecedented level of insight, both, about the activity of the distribution channel and insurance buyers.

Wellthie’s ability to multiply market opportunities has fostered long-term relationships, as numerous insurance companies have entered into a partnership with the company. From a technical standpoint, the partnerships imply a direct and end-to-end integration with the client ecosystem to allow brokers to carry on with the customer sales cycles, effortlessly. Keise mentions that Aflac, Humana, and Oscar Insurance are among the many big names that Wellthie is currently engaged with. The company continues to build deeper integrations with its partners so that carriers and brokers seamlessly complete an entire sales cycle, allowing employees and employers to perform sub-steps required for enrollment. “ We aim to be a one-stop shop for the distribution channel of carriers, which can significantly accelerate quoting, plan selection, and enrollment processes, while also helping users to seamlessly manage customers and workflow- all under one platform. You can think of us as Zillow of insurance” concludes Keise.