Aventus, a global top 100 insurtech, that connects insurers, brokers and MGAs to a broader technology ecosystem, has launched an Aggregator API that integrates with all the leading comparison websites through one core platform. The Aggregator API significantly increases sales and reduces the time and software cost for insurers of integrating individually with each comparison website.
The Aggregator API enables insurance providers to supercharge sales by distributing through multiple price comparison websites as part of the core Aventus platform offering. Aventus currently has integrations with four of the largest price comparison websites including MoneySuperMarket and Quotezone.co.uk, with further integrations to follow.
In trials so far with one motor insurer, quotes have gone from 9,000 a week to a staggering 63,000 since it launched with the Aventus Aggregator API, with a 43% conversion rate from full quote to purchase. Given the increased distribution opportunity, Aventus also enables automated workflows for upselling and cross-selling additional insurance products to existing customers, making this integration even more significant.
Peter Goodman, CEO & Founder of Aventus, explains: “We are excited by the growth in sales that our clients have achieved off the back of these integrations. Price comparison websites are a popular and significant way of distributing insurance products. They can help brokers and insurers win new business fast, so it’s not surprising they want to be on their panels. But the time and cost associated with integrating with multiple comparison sites, the launch and ongoing cost, is prohibitive for most SMEs. Our new Aggregator API takes all that burden away, providing an affordable and fast way to feature on multiple leading comparison sites, all through the same platform.”
The Head of General Insurance at one of the price comparison websites that has now integrated with the platform, said: “Congratulations to the team at Aventus. They hit a fast and ambitious deadline to get the integration live pre-Christmas. This was the most seamless implementation I have witnessed in my five years here. I look forward to seeing what our partnership will bring.”
Recently recognised by Fintech Global as a Top 100 Insurtech for its innovative use of technology to generate cost savings and efficiency improvements across the insurance value chain, Aventus solves the inherent legacy issues facing the industry. Its customer-centric insurtech platform enables insurers, brokers and MGAs to build and distribute insurance products via APIs through any distribution channel then cross sell and upsell in an automated way second and third policies into the same customer base. Aventus has gathered significant momentum since its launch last year, with both retail and wholesale insurance customers now in the UK, US and Australia.