Canadian Insurtech Innovation Streamlines Processes for Insurance Brokers Across Canada
In a strategic move to enhance and establish key partnerships in the Canadian insurance technology sector, QuickFacts, an innovative insurance technology company based in Halifax, has announced an expanded collaboration with My Mutual Insurance, a financial services provider from Saskatchewan.
The partnership significantly improves insurance broker efficiency and enhances the underwriting process by providing partnered brokerages with quick, easy access to key underwriting details via the QuickFacts platform. This eliminates the need for brokers to manually sift through PDFs or chase updates, enabling them to quote accurately and reduce rework, ultimately saving time and costs.
Key impacts of the partnership include faster access to up-to-date underwriting information, a reduction in underwriting calls by up to 50%, increased broker confidence in guiding policyholders through insurance decisions, and support for brokers to serve clients more effectively by simplifying comparison of carrier information and speeding up onboarding processes.
The QuickFacts software platform consolidates insurance carrier data into a searchable AI- and blockchain-powered database. This technology-driven approach streamlines workflows, reduces administrative burden, and improves service quality in insurance brokerage and underwriting.
Paul Hill and Neil Mitchell participated in the funding round for QuickFacts, which secured capital through an oversubscribed $2 million funding round led by Sandpiper Ventures in 2024. Since its inception in 2020 by Jeff and Christy Barsalou, QuickFacts has established partnerships with over 45 insurance carriers across Canada. In 2022, QuickFacts joined Volta's Growth Residency.
Ken Sedgewick, QuickFacts' Manager of Strategic Partnerships, states that this partnership can save time and costs for brokers by allowing them to work faster and smarter without sacrificing accuracy or service. He adds that the quick access to information can help brokers quote accurately and avoid rework.
This partnership is expected to bring benefits to brokerages across Canada by streamlining the insurance quote process. With QuickFacts, brokers can access key underwriting details through QuickFacts' platform, QuickFacts, which Christy Barsalou, the CEO of QuickFacts, functions as the CEO of. Jeff Barsalou serves as the Chief Revenue Officer at QuickFacts.
[1] QuickFacts Press Release, "QuickFacts and My Mutual Insurance Partnership", [date], [URL] [2] QuickFacts Press Release, "QuickFacts Joins Volta's Growth Residency", [date], [URL] [3] QuickFacts Press Release, "QuickFacts Secures $2 Million in Funding", [date], [URL]
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