Genasys has been revealed as the technology partner fuelling the ground-breaking life insurance proposition recently launched by insurtech, Bequest. The Life sector is still very much a `sold on fear’ type of product and is ready to be transformed into something more flexible, lifestyle orientated and innovative.
Bequest is a life and end-of-life estate management provider for the digital generation, bringing together a person’s life administration, family planning, wealth management and end-of life planning together on one platform enabling customers to manage their needs online 24/7/365.
Its recently launched Life 2.0 insurance proposition has been designed to allow individuals and families to cover just what they need in minutes, with no need for a medical check-up, and allow policyholders to make changes as they need as their personal requirements alter through the course of their lives.
Commenting on the partnership Genasys chief growth officer, Andre Symes says: “This has been a hugely exciting project for our team. It was a challenging build as the customer journey involves a complex and robust rating process, assessing an intricate range of questions to deliver tailored joint or single cover. At the same time, we also had to embed our widget into Bequest’s existing customer portal to facilitate cross-selling of their new life cover.
“However, we thrive on working with young businesses that are looking to push the boundaries of what is possible and take a completely different approach to the more traditional insurance covers. Life insurance has not seen as much innovation as other areas and what James and his team have set out to do is revolutionary and we’re delighted to be able to give them the tech support they need.”
Founder and CEO of Bequest, James Buckley-Thorp, comments: “Having Genasys as one of our technical partners has allowed us to build a modern, digital solution for what is usually an outdated and clunky product.”
Established over twenty years ago, the Genasys Software as a Service proposition provides a world-leading, comprehensive and dynamic insurance management system that can be applied to any insurance business, regardless of currency, language or destination.
Headquartered in London and with operations in Johannesburg and Cape Town, Genasys serves clients in 16 countries around the world and currently manages gross written premium of over £1 billion.