{"id":21352,"date":"2024-02-02T21:08:16","date_gmt":"2024-02-02T21:08:16","guid":{"rendered":"https:\/\/www.insurance-canada.ca\/?p=79862"},"modified":"2024-02-02T21:08:16","modified_gmt":"2024-02-02T21:08:16","slug":"an-adaptable-all-purpose-insurance-core-system","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2024\/02\/02\/an-adaptable-all-purpose-insurance-core-system\/","title":{"rendered":"An Adaptable All-Purpose Insurance Core System"},"content":{"rendered":"<h3>A <a href=\"https:\/\/www.insurance-canada.ca\/insurance-canada-tech-award\/2024-icta-nominees\/\">2024 ICTA nomination<\/a><\/h3>\n<p>Toronto, ON (Feb. 2, 2024) \u2013 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.<\/p>\n<p>Our application use case depends upon the nature of the business of our client.<\/p>\n<ul class=\"redList\">\n<li><b>Reinsurer<\/b>: 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.<\/li>\n<li><b>Insurers<\/b>: 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.<\/li>\n<li><b>Intermediaries<\/b>: 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.<\/li>\n<\/ul>\n<h4>Value proposition<\/h4>\n<ul class=\"redList\">\n<li>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.<\/li>\n<li>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.<\/li>\n<li>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.<\/li>\n<li>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.<\/li>\n<li>Plug-n-Play Integration: We offer seamless integration with existing systems, ensuring smooth implementation without disruption.<\/li>\n<li>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.<\/li>\n<li>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.<\/li>\n<li>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.<\/li>\n<\/ul>\n<p>B4E Insurtech revolutionizes the insurance landscape as a nimble Insurance Infrastructure-as-a-Service provider.<\/p>\n<h4 class=\"smallhead\"><b>About B4E InsurTech<\/b><\/h4>\n<p>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.<\/p>\n<p>To learn more about our mission and services, please visit <a href=\"https:\/\/www.b4einsurtech.com\/\">www.b4einsurtech.com<\/a>.<\/p>\n<p class=\"referencetext\"><em>Source: B4E InsurTech<\/em><\/p>\n<p>Tags: <a href=\"https:\/\/www.insurance-canada.ca\/tag\/core-systems\/\" rel=\"tag\">core systems<\/a>, <a href=\"https:\/\/www.insurance-canada.ca\/tag\/insurtech\/\" rel=\"tag\">InsurTech<\/a>, <a href=\"https:\/\/www.insurance-canada.ca\/tag\/insurtech-spotlight\/\" rel=\"tag\">InsurTech Spotlight<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A 2024 ICTA nomination Toronto, ON (Feb. 2, 2024) \u2013 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&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/21352"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=21352"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/21352\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=21352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=21352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=21352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}