Australian insurtech CoTé launches agency management solution in the US

Australian insurtech CoTé launches agency management solution in the US | Insurance Business Australia

Australian insurtech CoTé launches agency management solution in the US

Australian technology company CoTé Software and Solutions (CoTé) entered the US market last month by launching a new agency management solution for businesses.

Called AGENCYMATE, the omni-channel platform allows users to seamlessly deliver a premium insurance service with personalised customer engagement.

It was developed as a pre-packaged application to empower small, medium, and large-scale insurance agencies to manage their business efficiently while complying with state regulations. It also allows agents to prioritise selling policies and support customers instantly from anywhere.

“We see this launch as such an incredible opportunity,” said Rudi Steyn, chief technology officer of CoTé. “To be able to launch such an innovative and truly exceptional product into such a fast-paced and growing market is exciting, and to be able to do that while helping agencies streamline processes and improve customer service is just a win-win.”

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In a recent analysis of the US market, CoTé found that current agency management systems were not solving the market problems many insurance agents face because system developers approach agents from an insurance perspective rather than a business one.

As a result, the company developed AGENCYMATE to address the “clear gap in the market” by achieving operational efficiencies by utilising emerging technologies such as automation, artificial intelligence, and machine learning to ensure streamlined processes and quality customer experience.

The product release has been particularly well-timed for CoTé, with the US insurance industry reaching $185.6 billion in 2021 due to sustained economic growth, better interest rates, and greater investment income.

Even though AGENCYMATE has been in the US market for a month, CoTé reported that the product engagement exceeded its expectations, with brand alignments such as a partnership with Standard Premium Finance helping to boost take-up.