The Plexus Groupe reimagines how to serve their SMB books better through insurtech powered by Layr
The Plexus Groupe is a progressive, innovative, and nationally recognized commercial insurance brokerage working in all 50 states, with a broker network operating in 130 countries worldwide. For the past 30+ years, Plexus has dedicated itself to delivering straightforward and honest insurance advice with an unmatched client-centric focus.
“Partnering with Layr allowed us to solve the small business insurance problem. Historically, small business was one of the least profitable parts of Plexus, so we were trying to figure out an efficient and innovative way to handle these important, yet smaller clients.”
– Gerald Fawcett, SVP at Plexus
REIMAGINING THE SMB BROKER
Today, small and emerging businesses face ever-growing risks and financial pressures, and Plexus continues to be at the forefront of innovative, tailored insurance solutions to meet those evolving needs. As the insurance industry faces record-setting acquisitions and private equity investment, customers often choose between giant agencies with accessible but generic services or smaller brokerages without industry-leading resources. But Plexus wants to give their customers the best of both worlds.
At Plexus, one way of providing their customers with an innovative and tailored insurance experience is by reimagining the broker’s role in an SMB relationship. Traditionally, brokers have been forced upstream towards larger accounts to expand margins within the company, resulting in SMB clients being underserviced and sold policies that don’t fit their actual needs. These misaligned interests result in brokers wanting the freedom to sell more extensive policies while clients search for an experience tailored to suit their needs. So, how could the broker-client relationship be reformed to be beneficial to both the brokers and clients?
THE BEST OF BOTH WORLDS
A technology solution that prioritizes both the broker and client is the exact solution Layr built. Layr’s technology narrows the gap between the agencies and the smaller brokerages that need access to innovative resources. Through their partnership with Layr, Plexus can now provide their SMB and emerging clients the attention they deserve while still allowing their team to venture upstream for higher margins.
Whether acquiring 10 or 1,000+ accounts, Layr’s easy-to-use online platform allows Plexus to onboard and manage their new accounts in a 100% self-service environment. So whenever a client needs to renew policies, generate COIs, or make a claim, they can do it entirely online without any necessary face-time with the broker. Instead of spending valuable time and resources on account maintenance, brokerages like Plexus can now build more personal relationships with their clients and further expand their business.
“Layr has helped service over 150 clients and 1.3 million in premium throughout its relationship with Plexus, and this is hopefully just the beginning.” – Gerald Fawcett
The next step on the horizon for Layr is to rework our current tech to be a tool for an in-house brokerage team. Instead of handing over SMB books for Layr’s team to manage, a brokerage can now service their books in-house using our intuitive portal. For Plexus, this means that should they ever want to bring their SMB books in-house, they can do so while continuing to use our technology to serve their clients while maintaining 100% of their profits.
Whether a brokerage is looking to venture into the SMB insurance game, create more capacity within their current team, or provide their team with tools allowing them to serve their clients better, Layr has the answer. Reach out to our Partnerships team today to hear more about what partnering with Layr can do for your business.
“Layr and Plexus’s partnership is only continuing to grow, as we service more clients, Layr is allowing us to free up our team internally with larger business. The initial goal was to create that capacity within the team to handle more complex business in-house. Layr has definitely helped us achieve that capacity!” – Gerald Fawcett
The Plexus Groupe is a nationally recognized commercial insurance brokerage and consulting firm driving the next chapter in the Insurance industry with innovation, passion, and excellence.
SVP, Property & Casualty Practice Leader
Plexus is dedicated to delivering a wide range of expert independent insurance advice and superior service across specialty industries such as real estate, private equity, power generation, manufacturing, transportation & logistics, aerospace, cannabis, entertainment, and more. They pride themselves on being at the forefront of innovation with insurance programs tailored to your specific needs when you need them most.
What They Offer:
Employee Benefits, Property & Casualty, Retirement Solutions, Personal Insurance, Technology Services