Jun 25, 2021
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Ongoing

Digital Insurance Marketplace with Recommender Engine

$75,000+
4-6 months
United States
10+
view project
Service categories
Service type
Custom Software Development
Web Development
Domain focus
Banking & Financial Services
Solution type
Business Software
SaaS
Frameworks
.NET

Challenge

The definite feature of this marketplace is automation of information exchange and key business processes such as customer acquisition, underwriting and claims management. Featuring a recommender engine that is assessing client’s information and suggesting the best fitting insurance plan.

Solution

The client is a Swiss based consulting company with more than 20 years of experience in the insurance industry. They decided to launch a new digital SaaS insurance marketplace that will fully automate the insurance business processes for insurance companies and brokers and provide fully digital experience for the end clients allowing them to select and buy an insurance policy online from multiple insurance companies and automatically recommend them the best fitting insurance plan. The client has selected Itexus because of our specialization in the Insurance domain and experience with building recommender systems in the financial domain.

Results

We have delivered the MVP of digital insurance marketplace which allows to avoid inefficient process of gathering information via paper forms, to manage claims effectively, to automate the process of customer’s assessment and to generate the most suitable insurance offers for their clients. This MVP version of the system has been already launched to the Swiss market and is currently in beta-testing mode. The client is launching its marketing activities and planning the future versions of the product that will include a task management system and workflow automation for consultants, payments, claim management, personalized news feed for the clients and other features.