CAAREA are saying they can manage the entire MGA and Insurtech value chain: actuary, underwriter, data scientist, automotive engineer, lawyer, business developer. It’s a bold statement, so let’s get the highlights from the press release.
CAAREA are working with the technical support of three of the world’s largest reinsurers – Scor, SwissRe and Munich Re. That’s a good start we think. In concrete terms, the company insures more than 1 million vehicles, worth some 500 million euros in premiums, plus protects the vehicle.
In real time and based on new trends and behaviors of motorists, CAAREA‘s platform will allow automotive professionals to design and refine their white label offers according to the evolution of their strategic needs and their economic growth. Each offer will be built and modulated according to several specific parameters, in particular the profiles of the vehicles. This opens the door for customising policies for fleet, used, or electric etc.
Nice to have that flexibility of course, but there’s more; the various protections offered by the affinity insurance in the CAAREA range; the technical, legal and tax specificities of each country can be factored in. Finally the payment methods for the customer, plus commission to various stakeholders can be added too.
Once the offers have been built, they are deployed within the manufacturer’s distribution networks via the API portals. The CAAREA platform then becomes a tool for analyzing the profitability and performance of the partners’ affinity strategy, says CAAREA.
GLOBAL APPROACH
The platform can operate in all countries of the world, says CAAREA, with the support of 3 of the top 5 global reinsurers behind your white label product.
In a global automotive market reshaped by the crisis and transformed by the revolution of uses, manufacturers, above all, must provide innovative solutions and services for the benefit of their customers’ mobility.
“Thanks to its platform, CAAREA disrupts the automotive affinity insurance market. Each player in the ecosystem can have a real capacity to design, build and deploy its strategy and affinity products on its own account. All in real time. This solution, technically supported by three of the five largest reinsurers in the world, responds to strong expectations. It allows automotive players to regain control of their insurance strategy, to benefit from a new lever to increase their sales and generate additional income. Enough to change the strategy and opportunities of insurers, financiers and manufacturers!“, explains Bruno Labuzan, founder and CEO of CAAREA.
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