PolicyAdvisor.com is an innovative insurance marketplace that allows consumers to digitally access life insurance, critical illness insurance, and mortgage protection products from 16 of the largest insurance carriers in Canada. We use modern technology, intuitive design, and real-world advisory capabilities to make it simple, straightforward and stress-free for consumers to buy life insurance and related insurance products.
We have built easy-to-use online tools and a unique digital magazine to educate, engage, and empower the consumer to purchase insurance products. The company supplements its technology-first approach with expert advice from experienced licensed brokers working behind the scenes, who clients can request to speak to online, on the phone, or through video.
What makes us an InsurTech:
PolicyAdvisor’s online approach ensures Canadians can shop for insurance, compare plans, and get quotes within seconds, wherever they have access to their computer, phone, or tablet. We have seamless access to 16 of the largest Canadian insurance company’s products and quoting information. Our digital solution combines a tech-first, algorithmic approach to parsing Canada’s wide-spectrum of complex insurance product information, with an independent and transparent approach to insurance advice and policy selection. This combination of technology innovation and real-world curation ensures that we achieve our mission: making insurance more accessible, faster, and cheaper for Canadians.
Major features & technology used:
PolicyAdvisor’s proprietary algorithms allow us to scan hundreds of insurance products and their respective rates and present the best insurance carrier and product options to site visitors. We also overlay our analytics capabilities to optimize the insurance application process for the user. Our insurance checkup tool utilizes our proprietary algorithm to identify insurance gaps and recommend customized solutions for users based on their unique personal needs. We have built an omni-channel, device-independent experience for our end-user which ensures they are able to access their quotes anywhere, anytime. With our interactive features such as AI-powered chatbots and additional always-on insurance tools, consumers can receive free, unbiased advice 24 hours a day.
PolicyAdvisor is transforming the way Canadians purchase financial protection. We are poised to disrupt a massive global industry by making insurance purchases simpler, transparent, and more human. With life insurance ownership at a multi-decade low and nearly 40 percent of Canadians lacking any life insurance coverage at all, it’s clear that the old insurance model isn’t working. That’s why we’re building the tools to help more Canadians get coverage in a quick, intuitive manner. We’re a group of passionate insurance experts, developers, designers and marketers, who share the goal of creating a better insurance-buying experience for Canadians. Our multi-discipline expertise makes us uniquely capable to challenge the status quo and bring forth innovation to the Canadian insurance industry at large. For more information, please visit www.policyadvisor.com.
CATEGORY: Insurance Practitioner
MATURITY STATUS: Startup (<3 years)
PRODUCT OR SERVICE: Digital life insurance brokerage