KASKO, an InsurTech offering the world’s fastest and most flexible distribution platform for insurers, has partnered with German digital insurer Neodigital on item insurance. The entire project from product build to going live only took six weeks.
The product that KASKO helps bring to market is a webflow that sells mobile phone insurance. Using the myNeo online portal, end users can manage all relevant data in one place, making it easy to process adjustments. They can select different modules depending on what type of coverage they desire. The product is structured in such a way that it is simple to add more items to the cover, such as laptop insurance.
Given that Neodigital is an InsurTech just like KASKO, this was an opportunity to underline the flexibility and modularity of KASKO’s platform. The bind-process was done completely by the insurer. KASKO offered its mobile-first and white-labelled front-end to Neodigital’s existing API.
The partnership involved adding several new features to KASKO’s front end. One of them was creating documents within the webflow, allowing end users to download a dynamically prefilled PDF document after entering all the necessary information, without the need to leave the flow or download the document from an email.
Secondly, KASKO built a back-end integration that allows to directly push all policies sold to Neodigital, following an earlier implementation of an advanced portal for its users. After a successful purchase, the user is able to log in to myNeo and see all the relevant information and documents concerning their purchased policy.
Nikolaus Suehr, CEO and Co-Founder of KASKO commented: “We’re delighted to co-power Neodigital’s latest item insurance. Working alongside such a fast and agile InsurTech was a different experience since Neodigital is experienced in digital products and webflows and any handshakes, both technical and cultural, were very clear. It corroborates our conviction that whilst incumbent insurers lack the IT capacity to move quickly due to legacy IT, InsurTechs can, and do, move very quickly, but their roadmap is much longer and they have less patience to see results.”
Stephen Voss, Co-Founder and Chief Sales Officer at Neodigital added: “We’ve been interested in working with KASKO for almost two years and when the opportunity came to build an item insurance product with them, we were thrilled to partner up. We were impressed by the great communication and speed of delivery that KASKO provided matching our talent and project efficiency. We also appreciated finding a partner who understands exactly what we need and helps us use our existing platform. Our team and KASKO are currently talking about further projects to prepare the webflow for our agents, as well as adding more items.”
This InsurTech collaboration proves that offering help with setting up digital products is not only relevant to corporates, who often lack IT capacity and knowledge, but can also be attractive to InsurTechs who might have better tech capabilities than incumbents, but also longer wishlist and less patience.
For more information, visit www.kasko.io.