The Inspire Insurtech Interview’ series are desgined to inspire fellow insurtechs. We want to share who they are, what they do, what we can expect from them in the future.
This month we are talking to Bruce Wren from 1WordFlow. Enjoy!
Tell us 1WordFlow’s brief pitch.
We digitise and transform analogue PDF insurance documents into web documents. This makes any section of any text – PDS, Policy, Contract – a click away.
They work on any device in any language with no downloads. Digital documents strip 70% costs out of the information supply chain.
So how did 1WordFlow begin?
With a background in web, the founders discovered that most websites were cluttered with downloadable analogue documents – the same format we’d been using for 28 years.
Just like Netflix and Spotify, we set out to remove packaging from the content. We deliver a web-based view of the document with one-click access to the key information. No more scrolling through lengthy documents and no more unwanted downloads.
How has 1WordFlow evolved since its inception?
We started with the digitisation of word and Pdf documents. Now we integrate into SharePoint and O365 to provide a seamless digital publishing process.
Customers don’t go to a website to download a document, they go to a website, that ‘”IS” the document.
What is your team currently working on for 2020, or what have you accomplished recently?
We have just completed the building of the World’s first end-to-end Digital Insurance Contract for a major US Insurer.
An Insurance Contract that used to take four days to build now takes 5 minutes. We believe this will revolutionise the industry.
How does 1WordFlow give back?
We are a green technology. No paper.
We output in 100 languages instantly and provide 26% of Australians who don’t speak English at home, with the ability to make informed insurance decisions.
We output all content in WCAG 2 accessible format that assists 17% of Australians with a disability make informed decisions.
We have an internship program which provides the first step on the ladder for those interested in Technology
We are offering our digital software free of charge to organisations fighting COVID-19.
What is 1WordFlow’s biggest challenge in today’s markets?
Our biggest challenge is to show conservative insurers (who have managed their knowledge the same way for a quarter of a century) that their manual processes and analogue PDF documentation are not only customer hostile but highly inefficient and costly.
Anything else that you would like to say that we have not asked?
We believe that Australia could be a powerhouse of innovation in Insurance.
We would like to see incumbent insurers truly collaborate and government get behind what could be a massive export industry.
