An Adaptable All-Purpose Insurance Core System

A 2024 ICTA nomination

Toronto, ON (Feb. 2, 2024) – 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.

Our application use case depends upon the nature of the business of our client.

• Reinsurer: 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.
• Insurers: 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.
• Intermediaries: 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.

Value proposition

• 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.
• 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.
• 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.
• 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.
• Plug-n-Play Integration: We offer seamless integration with existing systems, ensuring smooth implementation without disruption.
• 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.
• 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.
• 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.

B4E Insurtech revolutionizes the insurance landscape as a nimble Insurance Infrastructure-as-a-Service provider.

About B4E InsurTech

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.

• Learn more about B4E in the InsurTech Spotlight.

To learn more about our mission and services, please visit www.b4einsurtech.com.

Source: B4E InsurTech