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"Summed AI is an AI assistant that digs up Medicare policy details for you 90% faster, so you can enroll your clients faster and with fewer compliance dings."
TLDR: Summed AI helps Medicare sales agents sell policies faster while avoiding compliance dings. Their users save an average of 20 minutes per enrollment call and some have increased their average compliance scores from 35% to over 90%.
- “I couldn’t believe it. I got 92% [compliance score] on my second-ever Medicare sale!” - Agent who did not have access to Summed AI on his first sale
- “They’re getting through an extra sale per day because of you guys” - A team manager
- “I know that when I come to Summed AI, I’m going for gold” - Agent
View their demo
Founded by Tyler Rich, Kevin Bao & Sherril Wang
The three of them met at Assurance IQ (insurtech agency), where they built sales platforms that facilitated over $1B in insurance sales commissions. After the company’s dissolution in Q1’24, they decided to take forth their learnings to build Summed AI.
- Tyler Rich (CEO): Data scientist who built insurance product recommendation systems
- Kevin Bao (CTO): Engineering leader in charge of platform and product teams
- Sherril Wang (CPO): Product manager with a deep understanding of agent, enrollee, and industry problems
Problem
Selling Medicare policies is a complex and time-consuming process. Agents often spend 90 minutes or more per sale, navigating multiple 10 to 200-page documents filled with intricate insurance plan details.
Under time pressure, agents might recommend suboptimal plans, leading to adverse medical and financial outcomes for clients.
These missteps can result in chargebacks, lengthy compliance audits, or even the loss of an agent’s or brokerage’s license.
Solution
• Best-in-Market Data: They assemble comprehensive datasets and generate benefit details from policy documents on demand.
• AI Assistance: Their AI helps agents perform complex plan-benefit analyses tailored to each client’s needs.
• Compliance Support: They walk agents step-by-step through a compliant enrollment.
While they are starting with Medicare, they will eventually apply the same approach to the broader consumer insurance industry.
Learn More
🌐 Visit summed.ai to learn more.
💪 Book a demo here.
🤝 Do you know any Medicare brokerages or carriers (like Humana, UnitedHealthcare, etc.)? Introduce them here!
👣 Follow Summed AI on LinkedIn.
