Searching for insurance can be a difficult task. There are so many types of insurance coverage, not to mention the long list of companies that offer different options. Which one is the right one for you? Then comes trying to understand all of the terminology used in the policies and quotes—are they even speaking English?
If you have ever wished there was a simpler way, meet Policygenius. This one-stop insurance website has simplified insurance shopping for everyone, no matter what type of insurance you need. And their informative articles make understanding all of the industry terminology simple. You will not only find the coverage you need, but you will understand what you’re buying, too!
RewardExpert recently had the pleasure of speaking with Jennifer Fitzgerald, CEO and co-founder of Policygenius, to learn a little bit more about the company.
Simplifying the Process
Founded in 2014, Policygenius had two main goals in mind: create a platform where consumers could get all of their insurance needs covered and simplify the process so that the everyday customer could understand what they were buying.
“Our mission is to help consumers get the insurance they need—and feel good about it,” said Fitzgerald. “Similar to what Kayak did for travel or what Amazon did for e-commerce, Policygenius is doing for insurance.”
“If you’ve ever read an insurance article, you’ve probably stumbled across 500 words of industry jargon, ultimately leading you down a rabbit hole of other insurance articles trying to explain the same thing you just read,” said Fitzgerald.
“We don’t think insurance should be this confusing, so we set about making it easier, creating friendly and easy-to-understand articles to help answer consumers’ questions and also to help them learn about all aspects of personal finance and financial protection.”
Innovative Insurance Navigators
If shopping for all of your insurance needs in one convenient spot sounds too good to be true, rest assured that Policygenius us the real deal.
“Policygenius creates ease in the insurance shopping experience,” explained Fitzgerald. “Our website makes shopping for insurance straightforward and simple, with instant feedback and information, through our innovative insurance navigators. In minutes, a shopper can get a detailed insurance estimate from multiple companies without the sales push or communication overload normally associated with this process.”
“Best of all, it’s easy to complete and easy to understand. This approach resonates with consumers and gives Policygenius a wider user base than most insurance companies.”
“Understanding there isn’t a one-size-fits-all solution, we frequently conduct customer research to gather insights on how to make the insurance shopping process easier,” continued Fitzgerald. “For example, we found many couples apply for life insurance individually, but want to include their spouses in the application process—after all, they want to make sure their spouses build their financial safety net, too. We took these insights and created the industry’s first spousal flow. This allows a spouse to start the application process independently from their partner without having to enter the same information twice.”
Helping the Underinsured Get Coverage They Need
Today there are over 60 percent of American households that are underinsured in important areas like life and disability. By simplifying the process of obtaining the right levels of insurance that people need, Policygenius is helping to bridge that gap.
“We take several approaches to making the insurance shopping experiences easy. From our easy-to-understand content to our innovative shopping engine, our ethos is always top of mind: Easy to understand, easy to use, easy to buy,” said Fitzgerald.
“At the end of the day, insurance is something most people need. If we can make the process simple and easy, we hope this will drive people to take action to close their financial gaps.”
Making Insurance Fun
Policygenius has a truly unique way of reaching their clients, by creating content that is fun and easy to understand. From rap lyrics to fun how-to videos, the content on the site speaks to a new generation of insurance buyers. “Policygenius started out in Brooklyn and we wanted to pay homage to native Brooklyn rappers,” explained Fitzgerald.
“We’re also a rather young staff compared to the average insurance agent—they’re 59-years-old, by the way. Coming in as new players in a saturated industry, we were facing a David and Goliath scenario. We knew if we were to compete with the giant insurance companies and their million dollar marketing budgets, we were going to have to beat them with an overlooked strategy: Content.”
“Most insurance content is jargon-filled and doesn’t answer the consumers’ questions. We didn’t want to do that. We understand the industry, so we want to share that knowledge to help people with their journey.”
“Let’s say someone is at the beginning of their life insurance journey; they’re likely trying to grasp the different terms, which we can explain. Then, once they’ve got the basics, they’re going to have more questions, which we strive to write articles that answer all of these. We’re there for our customers even after they’ve bought insurance, educating them on other aspects of personal finance in our magazine.”
Get an Insurance Check-Up
Policygenius makes it easy to find out if you are covered for all of life’s unexpected events with an easy-to-use feature called Insurance Check-Up. This gives consumers a 360-degree view of their current financial situation and helps them plan for the future.
“Similar to our other insurance navigators, our Insurance Check-up takes into account any debts, family and college planning, their current financial situation and the types of insurance they currently have. After the simple Q&A, the consumer receives a list of their insurance needs—and even what insurance they don’t need, giving full transparency into the process,” said Fitzgerald.
To get your insurance check-up or to learn more about how Policygenius works, visit their website at www.policygenius.com today.