Agiliux offer two core products tailored to different segments of the insurance industry:
1. Agiliux Retail is a versatile platform that empowers insurance companies, brokers, and banks (bancassurance) to streamline their retail channels, which includes direct sale through website or mobile app, chatbot, agency portal, POS app, and embedded insurance partnerships. With Agiliux Retail, organizations can manage all their retail channels from a single streamline platform. Agiliux Retail also provides an all-in-one Customer Support solution, complete with a self-service portal or app that enables customers to check their policy status, submit claims, and renew policies, supported by an omnichannel helpdesk system to provide efficient support across channels.
2. Agiliux Commercial is a comprehensive automation solution designed to meet the needs of both Direct Insurance Brokers and Reinsurance Brokers. Our platform offers end-to-end automation, from the initial risk coverage request from the customer to the generation of required quotes, debit notes, payment management, and integrated accounting. Additionally, our platform offers efficient regulatory reporting capabilities and much more, providing brokers with the tools they need to streamline their operations and improve their efficiency.
Startup Description
The insurance industry is undergoing a major transformation, driven by the adoption of modern technologies and innovative processes. While larger companies are making significant strides in this digital shift, smaller companies are facing challenges in keeping up and fear falling behind. Moreover, the industry is witnessing the rise of disruptive Insurtech startups that offer cutting-edge digital solutions, posing a threat to the traditional players.
Despite the rapid growth of Insurtech’s, it currently represents less than 1% of the insurance market, in 2021. Market research suggests that even in the next 10 years, its market share is unlikely to exceed 3%. This underscores the importance of empowering traditional players further if we aim to transform the insurance industry.
This is where Agiliux steps in. Our mission is to revolutionise insurance intermediaries by offering tailored software solutions to traditional players such as insurance brokers, agencies, and banks. Our solutions enhance distribution efficiency, elevate the customer experience, and enable these players to stay competitive in the rapidly changing landscape of the insurance industry.
Over the past three years, we have made remarkable strides in product development, collaborating with our initial customers, and validated our product & business in multiple markets. We are currently serving 14 paying customers across five countries, and are in talks with over 30 potential customers across ten countries.
Product Screenshots
Business Model
As a SAAS business, we have two revenue streams, setup or professional services and the subscription fee. Customers usually pay one-time setup fee based upon what they need or any customisations, integrations required. The ongoing subscription fee could be a percentage of the transaction fee or based upon number of users.
Customers
based in
Southeast Asia, Europe, Middle East & North Africa
Business
Modal Type
SaaS
Type of
Sales
B2B, B2B2C
Competitors
Few large legacy players (Simson & Ebix in India and Acturis in UK), mostly with outdated technology and some new startups (Sibro in India and Insly in Europe), which are still not matured enough.
Teams
Sarabjeet Kaur
Founder & COO
Sonny Cheah
Advisor & CPO
Tell us a bit about how founding team knows
each other.
We are a married couple and have been working together for last 18 years. We earlier did Second CRM, which is one of the very first SAAS startups in Southeast Asia, where we offer CRM application to small businesses. It was bootstrapped. The current startup, we want to do in an accelerated way, raising external investment and working with mentors and advisors and from the very beginning, we are setting up a global business.
Why did you decide to start this
company?
Most of the new Insuretechs are not really helping the existing players, but there are millions of insurance players who need help with digitalisation and that is what Agiliux is doing.
Are all the founders full-time on this
project?
Yes
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