Grow your loan book with automated retention

broker insights webinar September 2022

In our action-packed September 2022 Broker Insights webinar, Sherlok founder Adam Grocke explained how the platform will deliver a better experience for AFG brokers.

Our fourth instalment of the Broker Insights Webinar 2022 series took place in September with a packed agenda. Our expert panel and AFG staff shared the spotlight to inform, educate and inspire our brokers about the topics that are front of mind for our industry.

How Sherlok can help AFG brokers unlock the power of automation

We recently shared the exciting announcement that AFG has a new preferred partner, broker-fintech Sherlok. In our Broker Insights webinar, we invited company founder and CEO, Adam Grocke to talk about the platform’s features and the exciting prospect of automating client retention.

Adam explains that Sherlok has been integrated with AFG’s technology stack and helps our brokers to onboard, transfer data, and start repricing customers.

“Sherlok integrates with Flex. We then use artificial intelligence to predict client churn for brokers. This is important as it means we’ll always be able to predict the possibility of clients leaving based on all the data points that we have available. It is quite a complex algorithm and machine learning engine which is very intuitive for brokers.”

Automation vs. manual retention

In the session, we were joined by Tracy Kearey, Managing Director of Mortgage Advice Bureau in Queensland.

Mortgage Advice Bureau has onboarded the Sherlok platform, and we were able to hear Tracy’s experiences using the tool firsthand. As she explains, there are significant advantages that come from automating retention, as opposed to conducting this process manually which comes with its challenges.

“In the past, I paid a full-time admin staff member to do my retention manually, and there were some issues with this because every bank has its own system and way of doing things,” she said.

“Some you’ve got to have a document signed, and with others, it’s just a tick and flick. With so many different systems out there it’s difficult to try and get your head around.”

“What I like about the Sherlok system is that everything is automated, however, it all comes from me. The client doesn’t see anything about Sherlok, they just think it’s Tracy Kearey from Mortgage Advice Bureau looking after the client (which I am).”

Holding on to existing clients should be our big priority

Tracy emphasised the importance of automating client retention, and how it has helped her stay front-of-mind with her clients, and even pick up some new ones along the way.

“Every week we get an alert of how many clients we will be sending emails to because we can get them a better rate. We approve that and Sherlok does the rest. The client comes back and then the rate gets automatically put on to their loan.”

“I’ve also seen a few experiences where people have been looking to refinance and the bank hasn’t really done much to help them, so I’ve been able to pick up a couple of these people looking to refinance, which is great. Either way – I’m retaining the client.”

“If you think about it, if we lose a client then it is not only a cost to our business, but it is a cost to the client if they go away and refinance elsewhere.”

“I’m a very big advocate of this tool and have been since day one. Banks do retention of customers really well, so there’s every reason that retaining clients should be our number one priority.”

What else did I miss in the webinar?

In addition to Adam and Tracy’s insightful look at retention, our September edition of Broker Insights featured an array of speakers providing their insights and perspectives on updates and commentary from the industry, including: 

  • Peter White, Managing Director of FBAA gave us the latest from the association; 
  • Will Swayne and Craig Vaughan from BrokerEngine talked all about the new features of the platform; 
  • Award-winning AFG Partnership Manager Haley Bellamy shared how she’s helping some of our fastest-growing broker businesses supercharge their customer numbers. 

If you’re an AFG broker, remember that you can catch up on this impressive array of guest speakers, including our client retention discussion, by watching the full recording in Learn.


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Register for the webinar today

Anyone not signed up to watch the webinar can join in and listen! Over 900 leading brokers nationally have registered for their dose of relevant industry content and updates in 60 action-packed minutes.

Each webinar is devoted to tackling a different topical issue with the help of industry leaders, brokers, and AFG staff.

Register for Broker Insights here.

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