An Adaptable All-Purpose Insurance Core System
A 2024 ICTA nomination
Toronto, ON (Feb. 2, 2024) – B4E Insurtech provides modular, no-code user-friendly insurance infrastructure solutions for Reinsurers, Insurers, and Intermediaries, driving innovation, development and deployment of simple, affordable, digitally accessible inclusive insurance products for the mass-market segments.
Our application use case depends upon the nature of the business of our client.
- Reinsurer: Our platform allows reinsurers to develop, deploy and offer simple rule-based insurance products along with supporting digital infrastructure to Cedents independently, without any dependance or cost impact.
- Insurers: Our platform allows insurers to deploy and offer simple rule-based insurance products along with supporting digital infrastructure to intermediaries independently, without any dependance or cost impact.
- Intermediaries: Our platform allows intermediaries such as banks, brokers etc., to source and deploy various simple rule-based insurance products from multiple insurance companies and deploy the same on a single digital platform seamlessly, and start selling within under 30 minutes, without any dependance or cost impact.
Value proposition
- Swift Speed-to-Market: Our partners can now go from product deployment to sales within under 30 minutes, reducing the speed-to-market from anything between 3 to 6 months to within minutes.
- Zero Upfront Cost: Traditional product deployment costs can start from USD 100,000 and can go higher depending upon the complexity of the product. In our case this cost has been removed altogether.
- No-Code Simplicity: Traditionally, insurance companies are required to provide the product specs to their system vendor so that the new product/s can be deployed on the core system. In our case, we have removed this dependency by allowing our users to independently use an intuitive, no-code interface, while our embedded workflows take care of the business at the backend.
- Infinite Product Variants: Traditionally insurance systems are designed for one line of Insurance products, whereas our system is designed to cater to all types of rule-based life, general or health insurance products.
- Plug-n-Play Integration: We offer seamless integration with existing systems, ensuring smooth implementation without disruption.
- Complementary to Legacy Systems: Our system allows our partners to leverage the core functionalities of their legacy system while accessing the enhanced functionality of our platform independently.
- Catalyst for Innovation: Since we do not bill our clients any upfront cost or for product deployment, our platform creates the most cost-effective and conducive environment for product innovation across the industry.
- Commercial Model Built on Partnership: We foster strong collaborations with our clients, fostering a true partnership rather than a conventional vendor relationship, whereby we get paid when our partners start selling new products using our platform.
B4E Insurtech revolutionizes the insurance landscape as a nimble Insurance Infrastructure-as-a-Service provider.
About B4E InsurTech
B4E Insurtech is an Insurance Technology company that empowers the industry supply chain to create meaningful and affordable insurance products for the mass-market client segment. Our focus is on minimizing technology costs while simplifying processes, driving efficiencies, and expanding geographical reach.
To learn more about our mission and services, please visit www.b4einsurtech.com.
Source: B4E InsurTech
Tags: core systems, InsurTech, InsurTech Spotlight