Justin Sylvester was working as a broker on an especially rough renewal when a thought came to him—
“Surely other brokers are having this problem, right?”
Frustrated by the inefficiencies and limitations of traditional methods, Justin embarked on a journey to create a solution that would transform the way insurance data is presented. He and fellow co-founder Aaron Snyder formed PerfectQuote in 2017 to revolutionize the quoting experience.
A frustrating renewal process
During his tenure as a broker, Justin encountered a particularly challenging client—a large animal clinic in Houston, Texas. With multiple locations and hundreds of employees, their annual renewal process was a demanding ordeal.
Justin would travel to Houston for pre-renewal meetings, offering insights into market trends and alternative options to prepare them for the renewal. However, despite their size, the client insisted on going to the market every year, seeking new quotes from various carriers.
The renewal process required significant manual effort in collecting quotes from different carriers. The data was then compiled, printed, reviewed, and adjusted repeatedly, consuming valuable time and resources. Unfortunately, despite the team’s diligent work, errors would occasionally slip through, undermining their credibility with the client.
The frustrations peaked when Justin presented the final renewal to the client. To his dismay, the CEO pointed out errors in the calculations, rendering the entire presentation unreliable. The trust had been eroded, and Justin was faced with the daunting task of correcting the mistakes. The back-and-forth drives between Houston and Austin to rectify the errors added to the mounting frustration.
Justin had already spent 18 hours on the road and 6 hours in client meetings—not to mention the 12+ hours the team spent building and rebuilding error-filled spreadsheets. All told, this one renewal took 90 hours. There had to be a better way.
Watch Justin’s full story on The P’s and Q’s Podcast by PerfectQuote.
A better way to quote
The client’s dissatisfaction forced Justin to realize that there had to be a better way to analyze and present carrier quotes to clients. He envisioned a solution that would eliminate the need for manual calculations and provide real-time access to carrier information.
Driven by his frustration and the desire for a more efficient sales process, Justin and Aaron founded PerfectQuote. Their vision was to empower brokers to present all of the available carrier quoting information without the burdensome back-office tasks that often led to errors and delays.
The team at PerfectQuote brainstormed ways to input vast amounts of underwritten data into the system accurately. Recognizing the limitations of manual data entry, they developed optical character recognition (OCR)-powered software tailored specifically to group benefits. This revolutionary technology allowed brokers to scan proposals from carriers and extract the necessary information digitally, eliminating the need for manual input.
Revolutionizing the broker sales cycle
PerfectQuote quickly evolved from a tool for data presentation into a comprehensive solution for insurance brokers. The combination of dynamic data visualization and OCR capabilities streamlined the sales cycle, saving time and resources for brokers and clients alike. The quoting platform empowered brokers to make data-driven recommendations efficiently and facilitated faster decision-making, improving the overall customer experience.
Justin’s frustration with the inefficiencies of traditional insurance sales processes led him to create PerfectQuote—a game-changing platform that transformed the way insurance data is presented and revolutionized the purchasing experience.
With the development of dynamic data visualization and OCR technology, PerfectQuote empowered brokers to streamline the sales cycle and make informed recommendations to clients. By addressing the pain points of manual processes, PerfectQuote emerged as a driving force in the insurance industry, paving the way for a more efficient and customer-centric approach to insurance sales.
