
ZUM
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To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information on Premium features
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Subject to reasonable use.
Survey Summary
The Survey Summary provides a download of the vendor profile, solution profile and the VendorMatch Discovery survey vendor responses used to power the directory. All responses are provided by the vendor online.
Note that this report is a high level summary of the vendor's credentials and a solution's capabilities designed to assist with solution short-listing. The RFX report is the more comprehensive Request For Information report designed to support evaluation and selection, this will only show where the vendor has completed the "RFX" RFI.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information on Premium features or contact us to discuss a subscription.
RFX Report
The RFX report is an XLS download of the Vendors response to the “RFX” Request for Information for this solution.
The RFX is a centralized golden copy of a RFI authored by our analysts based on their expertise in running real-life system evaluation and selection projects and completed by the vendor online.
Note to protect vendor that only Financial Institutions and recognized Advisor can subscribe to this feature.
In each instance the first time the link is used the user requests permission to access the RFX report and it is the vendor who is required to authorizes access. You will be alerted when the vendor has reviewed your request and granted permission.
HOW TO SUBSCRIBE
You can activate this feature with a VendorMatch Premium subscription. Please click here for more information on Premium features or contact us to discuss a subscription.
To learn more about subscribing to our service options, please contact us here
This feature is upgradeable
For End Users
You can activate this feature and other links for ALL VENDORS with a VendorMatch Premium subscription. Additionally you can gain access to an increased depth of data, summary reports, RFX reports (detailed completed RFIs - available to financial institutions only) and comparison grids. Please click here for more information on Premium features.
For Vendors
Vendors can activate their links and gain access to analytics by upgrading to VendorMatch PRO. Please click here for more information
Speak with an analyst
Financial institutions and their advisors can subscribe to our Analyst Access* service. Effectively phone or (email) a friend you can have on tap advice and support provided by our analysts on this vendor, solution or solution category.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information on Premium features
or contact us to discuss a subscription.
Subject to reasonable use.
Survey Summary
The Survey Summary provides a download of the vendor profile, solution profile and the VendorMatch Discovery survey vendor responses used to power the directory. All responses are provided by the vendor online.
Note that this report is a high level summary of the vendor's credentials and a solution's capabilities designed to assist with solution short-listing. The RFX report is the more comprehensive Request For Information report designed to support evaluation and selection, this will only show where the vendor has completed the "RFX" RFI.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information on Premium features or contact us to discuss a subscription.
RFX Report
The RFX report is an XLS download of the Vendors response to the “RFX” Request for Information for this solution.
The RFX is a centralized golden copy of a RFI authored by our analysts based on their expertise in running real-life system evaluation and selection projects and completed by the vendor online.
Note to protect vendor that only Financial Institutions and recognized Advisor can subscribe to this feature.
In each instance the first time the link is used the user requests permission to access the RFX report and it is the vendor who is required to authorizes access. You will be alerted when the vendor has reviewed your request and granted permission.
HOW TO SUBSCRIBE
You can activate this feature with a VendorMatch Premium subscription. Please click here for more information on Premium features or contact us to discuss a subscription.
To learn more about subscribing to our service options, please contact us here
This feature is upgradeable
For End Users
You can activate this feature and other links for ALL VENDORS with a VendorMatch Premium subscription. Additionally you can gain access to an increased depth of data, summary reports, RFX reports (detailed completed RFIs - available to financial institutions only) and comparison grids. Please click here for more information on Premium features.
For Vendors
Vendors can activate their links and gain access to analytics by upgrading to VendorMatch PRO. Please click here for more information
Speak with an analyst
Financial institutions and their advisors can subscribe to our Analyst Access* service. Effectively phone or (email) a friend you can have on tap advice and support provided by our analysts on this vendor, solution or solution category.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information on Premium features
or contact us to discuss a subscription.
Subject to reasonable use.
Survey Summary
The Survey Summary provides a download of the vendor profile, solution profile and the VendorMatch Discovery survey vendor responses used to power the directory. All responses are provided by the vendor online.
Note that this report is a high level summary of the vendor's credentials and a solution's capabilities designed to assist with solution short-listing. The RFX report is the more comprehensive Request For Information report designed to support evaluation and selection, this will only show where the vendor has completed the "RFX" RFI.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information on Premium features or contact us to discuss a subscription.
RFX Report
The RFX report is an XLS download of the Vendors response to the “RFX” Request for Information for this solution.
The RFX is a centralized golden copy of a RFI authored by our analysts based on their expertise in running real-life system evaluation and selection projects and completed by the vendor online.
Note to protect vendor that only Financial Institutions and recognized Advisor can subscribe to this feature.
In each instance the first time the link is used the user requests permission to access the RFX report and it is the vendor who is required to authorizes access. You will be alerted when the vendor has reviewed your request and granted permission.
HOW TO SUBSCRIBE
You can activate this feature with a VendorMatch Premium subscription. Please click here for more information on Premium features or contact us to discuss a subscription.
To learn more about subscribing to our service options, please contact us here
Overview
The different stakeholders of the industry continue to exchange information in an old-fashioned manner. The means used are physical documents, Excel sheets, PDFs, emails and phone calls; unstructured information. This generates great operational and commercial inefficiencies, high selling and admin expenses, inability to penetrate new segments and a poor user experience.
To tackle this, Hello ZUM developed a white label multi-line and multi-carrier SaaS portal for insurance distribution channels (e.g. brokers, agents, banks, retailers, insurance companies, etc.), that allows the insurance value chain to be integrated digitally from end to end.
With our SaaS, distribution channels are able to manage all sales (quoting, issuing, placement) and post-sales (policy servicing, collections, endorsements, renewals) processes digitally, integrated directly to insurance companies operating / legacy systems via proprietary APIs and Web Services
ZUM allows distribution channels to establish digital B2C, B2B and B2B2C relationships with customers, by enabling digital capabilities to customers directly (be it individuals or companies) or to their sponsors.
Key Features
The platform was designed from the consumer’s perspective, with two main functionalities in mind: consultations (quotation, coverage, account status, etc.) and transactions (purchase, payment, use, modification and renewal). This way, stakeholders have simultaneous access to updated information necessary for the fulfillment of their respective needs and roles.
Even though ZUM has been structured to support multiple lines of business, currently we are live with Auto insurance products. However, 80% of components used to develop this line of business are reusable across all others: Life, Health, P&C, PA, Worker’s Comp.
ZUM’s modules, for any of the lines of business, consist of:
- Quoting: generate and manage multi-carrier quotes, issue policies in real time after client’s online approval directly into insurer’s systems, and send them to the client immediately (less than 3 minutes)
- Policy management: manage active policies and whole portfolio, see all policy-related information directly from insurer’s systems. Renew massively and automatically
- Tasks management: automatically generated follow-up tasks and reminders (for inspections, GPS installations, health exams, etc.
- Collections: Check status of collections individually or by group. See and sort coupons by status, period, amount due, date due, etc. Review details of financing and collections per coupon directly from carrier’s system
- Reporting & BI: All information in the insurance companies the distribution channel works with can be viewed in ZUM in real time through the reports functionality, in an aggregated way. Status of sales, collections, quoting, etc., by executive, by period, product, and more.
ZUM as a portal can enable consultations and transactions not only to the distribution channel’s employees (like call center reps, sales reps, sales supervisors, etc.) to serve their clients, but also enables e-commerce capabilities for their clients to self-serve via a B2C, B2B or even a B2B2C relationship (e.g. In an affinity business model, a distribution channel client-employee buying a policy through their company’s intranet enabled by the distribution channel through ZUM)
ZUM can also connect to any other system the distribution channel may have (to create value for the entire company by, for example, feeding data to CRM tools, Analytics tools, accounting systems, etc.), or to any other stakeholder, allowing data to travel seamlessly throughout the industry.
Key Benefits
Our technology digitizes up to 66% of the tasks/processes of an insurance distribution channel, of which currently almost 100% are manual.
ZUM: Main Benefits
- 25% savings in operating expenses for both the distributor and the insurance company
- Quoting and policy issuing automation allows for a sevenfold increase in commercial productivity
- Ability to penetrate and serve new markets (e.g. SMEs, individuals, or any segment with high-transactionality or lower income), due to a wider digital reach and acquisition cost reductions
- Superior customer experience
For our auto product, we have obtained the following results:
- Quoting: 60-min offline to 5-min real time
- Issuing: 4 weeks paper policy issuing to 3-min digital policy issuing
- Sales Reprocesses: 70% reprocessing to 3% reprocessing
- Reconciliation of data: from up to 1-month manual to less than 1 day automatic
- Churn: 15% to 5%
- Renewals reprocessing: 40% to 1%
- Analytics & CRM: Limited use due to lack of data --> Full data + transactionality