Homelyfe to Aventus: the evolution
Peter Goodman, CEO
It has been clear for a while now that insurance is an industry ripe for disruption; on the verge of a seismic shift in approach. As a serial tech entrepreneur, this realisation filled me with immense excitement. In 2014, I first realised the full scale of the opportunity for digital transformation in insurance.
As a customer of a leading retail bank, my biggest frustration (in 2014 and still today) is when I try to purchase home insurance with them. Logged securely into my banking app, I click on “Get Home Insurance Quote” and am then asked to enter my name. My bank is asking me, their customer, whilst logged into their app, for my name. This is followed by a series of unnecessary questions they already know about me, and finished with “What type of banking relationship do you already have?” I’m your customer.
In the mobile-first age, customers simply shouldn’t be asked details already held by their insurance provider, especially when logged into their app.
Simplifying insurance for consumers
So in 2015 I co-founded Homelyfe, a digital insurance provider aiming to simplify insurance and meet the expectations of consumers in the digital age. Our free app allows customers to get an insurance quote in seconds, by asking zero unnecessary questions and dynamically pre-populating answers.
This data-driven approach is now the norm for other industries I’ve previously worked in, such as CRM and marketing. Yet the insurance industry is so reliant on legacy, antiquated systems, that this technology is truly transformational. Our consumer direct offering was so well received, that we realised we could fuel the digital transformation of the insurance industry, by partnering with businesses who can leverage our tech to innovate at scale.
Find out more about Homelyfe Insurance
This is where the Aventus platform was born. We began our pivot into B2B by offering a whitelabel solution of the Homelyfe product and services. Again, we quickly realised that our technology was so powerful and transformational, we are now launching Aventus; a cloud based, data-driven digital insurance platform.
Aventus offers our partner businesses the flexibility and agility to digitally innovate, which is scarce in the insurance industry. The platform is policy-agnostic, meaning that our partners can add any scheme to their insurance offering in weeks, rather than months. Our modular approach means that we can offer a bespoke end to end solution, enabling our partners to innovate faster and smarter.
Driving digital innovation
Our offering has therefore evolved from a pure consumer direct approach to a B2B play.
This evolution in some ways mirrors the development of CRM pioneer Salesforce.com, a company I know well and have huge respect for, as they acquired my previous venture (Brighter Option, at one point Facebook’s largest Marketing Partner globally).
Salesforce.com has reinvented the CRM industry with their pioneering use of cloud computing, by building a vibrant ecosystem of partners to leverage their Plaform Services and innovate across companies and industries. Echoing this approach, our vision is to transform the way insurance is delivered with the Aventus platform, by empowering our partners to drive digital innovation at scale and connect to their customers in new ways.