We recently had the pleasure of interviewing Khoo Kok Peng, Founder of the Singapore-based Svalinn Risk Solutions Pte Ltd.
Who is Svalinn Insurance Agency?
Svalinn is the name of a legendary shield that stands before the sun in Norse mythology. And we are its shield bearers. The role of a shield bearer in medieval times was to protect his lord in battle, using his shield to deflect blows and arrows.
I believe that the same role today is carried on by men and women who make insurance their craft, who serve and put the interests of their clients above their own.
I formed Svalinn in 2015 as an insurance agency focusing on Financial Lines, serving mainly startups and SMEs. Many of my current clients gave me a chance at the start, but I had to work really hard to earn their trust and to make Svalinn one of the top Financial Lines specialists in Singapore.
How did you improve efficiency in 2 weeks?
We were growing so fast that we simply outgrew our existing CRM system. The old system was unable to track policies bound/renewed/not issued or generate timely reports on outstanding premiums not collected.
I got frustrated with the increasing frequency of missing policy documents and the delay in collection of premium payments. I tried out different software, but was disappointed as most of them didn’t fully understand the business workings of an insurance brokerage. Until I found Insly online.
The video tutorials were very useful, so I decided to try out their system.
Märtin from Insly was very helpful in answering all my queries and I was able to setup Insly for my agency within a few weeks.
How has Insly helped your business?
One word, speed.
We don’t have to log into multiple systems to find out information about our client’s policy, whether the invoice has been issued or if the premium has been collected – everything is available on Insly.
Insly has streamlined our entire process from quotation, binding cover, collecting payment and claims handling. We can see real time information now on all our renewals, new sales, quotations and claims.
In summary, Insly has made my agency more efficient, agile and better positioned to take advantage of opportunities in the new economy.
In photo: Khoo Kok Peng, Founder of the Singapore-based Svalinn Risk Solutions Pte Ltd