DIGINSURTECHSOLUTIONEnabling insurers and banks to leap forward and innovate at record speed using the powerful technology in DIG solutions, integrated to legacy where and when needed.
www.digitalinsurance.io Leap forward and innovate at record speed
Leap forward and innovate at record speed 2
Customer is KingThe anytime, anyplace, anywhere experience
Leap Forward with Confidence
Insurers, banks and brokers around the globe face similar challenges
when it comes to innovation. Technology is changing at lightning speed as
the customer experience undergoes a revolution. External demands are
changing the way business is conducted but running on very complex IT
architectures with a wide-range of legacy systems means that building new
propositions takes up a lot of time and resources.
The diverse issues faced in today’s markets are broad and far-reaching and
we at the Digital Insurance Group (DIG) know we can improve people’s lives by
giving them access to the right insurance faster, simpler, and safer. By using
the power of technology, DIG enables insurers and banks to leap forward
and innovate at record speed, integrating with legacy systems where and
when needed.
Welcome to the challenging new world of digital insurance!
Three drivers of innovative excellence:
Deep Data IntelligenceThe insights gained from analysis and learning
Open Digital Ecosystems The new collaborative technology enabling sharing and integration
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Caught in a maze - the need to collaborate
Insurers are boldly walking into a perfect digitized storm. But to survive and
prosper, firms must evaluate how best to achieve their long-term goals while
also actioning the perennial needs of growing revenue and lowering costs.
Insurers are caught in a maze. However, collaboration is the key. Only by
taking advantage of the work of insurtechs, not fighting it, can incumbent
players rise to the challenge. Insurtech solutions can help to accelerate
traditional players into a digital world while minimizing the impact of legacy
systems that would normally inhibit branching out and opening up to third
parties.
While traditional players used to be content with the yearly renewals of their
established customer base, insurtechs continuously develop or reinvent
themselves. Cooperating with insurtechs accelerates the launch of digital
end-to-end offerings from years into months. Only by combining modern
insurtech technology, underwriting, pricing and claims expertise with an
incumbent’s dominant position can the maze be successfully navigated.
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Customer is king
Customers now expect smart, easy to use, one-click, mobile-based
personalized services; anytime, anyplace, anywhere. Whether deciding
to buy a new policy or switch insurers, more customers are doing their
research online than ever before.
Insurance, like other market sectors, needs to be built on better customer
insights including tools that show the extent to which customers are
insured and the ability to offer personalized and contextual products
and services that give piece of mind. All this is to increase customer
understanding of their exposure and provide the tools that give them the
control of their own financial situation.
With the right technology, a digital model can be built where increasing
sales can be achieved at a stable cost level. While disruptors have the
technology to grow already in place, they still lack volume as starting from
scratch and getting to substantial numbers takes time. This is where the
traditional players can leverage their market dominance as they have the
volume but need to find a way to serve at lower cost.
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Open digital ecosystems
As with other financial sectors, insurance is experiencing the need to open-
up service offerings to a broader digital world. Application programming
interfaces (APIs) are not new but are only now beginning to make inroads
into insurance markets. By opening-up to new ways of collaborating with
customers and third-party data sources, APIs empower insurers to embed
their products seamlessly into customers’ life journeys.
Technology and emerging data sources are changing the economy in
fundamental ways but adapting to this brave new digital world demands
flexibility and adaptability. Unfortunately, many established insurers
are hampered by complex legacy infrastructure that is unbending and
unresponsive. Digitalization is changing the role of insurance, from pure
risk protection towards predicting and preventing risks.
Ecosystems are all about customer centricity; using data and solving
customer problems through an end-to-end and seamless customer
journey. Financial services now need to be available and integrated into
wider ecosystems, so they can be available whenever and wherever they
are needed – easily integrated into other products and services offered by
third parties such as travel sites, social media, auto purchasing, etc.
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Deep data intelligence
The future is all about seamless and digital delivery powered by analytics,
adding new features that go beyond what can be imagined today. Artificially
intelligent systems capable of deep data analysis and machine learning
will have a radical impact on the whole value chain enabling mutually
beneficial insights, predictive behavior and a deeper understanding of
customer needs.
On the distribution side, using unsupervised machine learning and
predictive algorithms can help build profiles that can identify and suggest
well-targeted offers that match customer lifestyles. On the customer
engagement side, AI-enabled bots can take over the activities of customer
support staff and insurance agents. This can be seen in the move for
electronic car manufacturers beginning to offer group insurance services.
The wider banking industry has shown the way forward with initiatives
like the EU’s second Payment Services Directive (PSD2) and other open
banking regulation that require institutions to share customer data. A
similar approach regarding insurance products will further increase the
competitive pressure on insurers and will ultimately benefit the consumer
with more transparency and better services.
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The DIG Response
DIG offers realistic solutions that grow business for existing and new clients
as the industry moves toward new business models that not only offer new
opportunities for revenue growth, but also allow them to add real value to
clients. The DIG experience enables building bridges between business and
IT that drive a new insurer-customer relationship and experience to new
levels of reciprocity.
The DIG insurance solution is the next generation technology for insurers,
banks and brokers. DIG’s client driven quote/buy and self-service portals
combine data from existing legacy systems and third parties with an
innovative insurtech solution that grows the client base at lower costs. With
the DIG API-based platform and shared front-end framework, DIG enables
insurers to build new digital propositions for web and mobile, all built on top
of existing legacy systems at record speed.
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The DIG insurance solution is currently in production across the globe in
Europe, Central and South America, and East Asia.
DIG in the field
Digital life insurance - Latin America
Connected car insurance - Benelux
Customer engagement App - Italy
Cross-sell tool - UK
Wellbeing ecosystem in life - Americas
Digital broker – Europe and Latin America
DIG created a greenfield state-of-the-art online life insurance to quickly
respond to the needs of the emerging digital generations. The service gives
a seamless client journey with personalized pricing and flexible product
offerings from multiple insurers. The powerful client portal encouraged
strong engagement with customers and generated many cross-sell
opportunities. The service is set to expand across the region.
Implementation time: 6 months
We built the “insurer of the future” for an established global player. DIG
developed an auto insurance sales funnel solution using third-party
services in order to minimize customer obligation and input to just three
simple questions. Using social media integration through APIs and dynamic,
personalized pricing that monitors competitor pricing in real time, the app
proved the viability of taking a wider, more holistic view on product offerings.
In order to increase cross-sell and loyalty, a top-5 Italian direct player
used DIG to develop a visually-rich native mobile app. Integrated with the
established legacy systems through DIG API middle layer core, the service
includes a risk meter based on geolocation and smart push notifications to
increase interaction and prevention services.
Implementation time: 6 months
A major UK insurance company needed to generate more cross-sell
opportunities that were not possible with their established service level. DIG’s
insurance solution enabled them to quickly create targeted and personalized
offers that could be accepted with just one click, with agents stepping in
proactively when necessary to advise and close deals. DIG combined data
from legacy systems with analytical tools including robo-advice and a rules-
based data pipeline to improve cross-sell closure by over fifty percent.
Implementation time: 3 weeks
Launching a new life insurance product with an easy and personalised
customer journey, a pricing model and through API’s adding a wellbeing tool
to boost customer engagement and collect data on behaviour. Ready to add
new services.
We built mobile broking solutions where our client offered their customers
the overview of the policies they have, the option to upload other policies.
Enabling targeted offers, self-service and adding services like a risk meter or
gap analysis of coverage.
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The DIG solution integrates seamlessly into the
existing IT infrastructure and connects to multiple
databases and legacy systems to build new, data-
driven platforms that offer a fully customized,
mobile-first insurance experiences to customers.
The DIG insurance solution is fully containerized
and can be deployed on premises to resolve any
compliance or security issues or deployed as a fully
cloud-based service.
The DIG Insurtech Solutions
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Established playerscan enhance their existing service pro-position with minimal disruption.
New entrantscan build out a new service efficiently in a short time-to-market.
With the DIG insurance solution:
The DIG insurance solution is split
into two elements:
the shared DIG front-end suite
of library components and
the DIG middle-layer of core
services.
API & normalized data & business logic suite
Quote& Buy
Customer Portals / Apps
Productdbasesor API‘s
PolicyAdminSystems
Claimsdbases
Legacy Partner Systems
Third PartyAPI‘s
Module Quote & BuyModule Agent Portal
Module Customer Portal WebModule Customer Mobile App
AgentPortal
FRONT END SUITE
API LayerData normalizationInsurance Policy
Pricing tables & discount modelsProduct tablesInstant acceptance rules
API & MIDDLEWARE SUITE
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The DIG solution integrates seamlessly into the existing IT infrastructure
and connects to multiple databases and legacy systems to build new,
data-driven platforms that offer a fully customized, mobile-first insurance
experiences to customers.
The DIG insurance solution is fully containerized and can be deployed on
premises to resolve any compliance or security issues or deployed as a fully
cloud-based service.
The core application manages all API connections and business logic, as well
as other ancillary services such as PDF and email creation.
• Extensive API layer to connect and normalize any third-party
service or data source
• Third-party consumer data enrichment: contextual behaviors,
PSD2, IoT, deep visual data analytics, etc.
• Easily integrate into existing legacy systems and front ends
• Implement B2B2C white label services through full API integration
• Choose exclusively or broker for all bancassurance models
• Launch new, customized or standardized products quickly
The DIG middle-layer core
API & normalized data & business logic suite
Quote& Buy
Customer Portals / Apps
Productdbasesor API‘s
PolicyAdminSystems
Claimsdbases
Legacy Partner Systems
Third PartyAPI‘s
Module Quote & BuyModule Agent Portal
Module Customer Portal WebModule Customer Mobile App
AgentPortal
FRONT END SUITE
API LayerData normalizationInsurance Policy
Pricing tables & discount modelsProduct tablesInstant acceptance rules
API & MIDDLEWARE SUITE
The internal resource builder enables the speedy incorporation of
multiple external systems and services, adjusted and extended
by conditional internal data. Integrating with existing legacy systems is effortless using flexible connectors, normalization
and caching technology.
The API layer enables access to ecosystems like telematics, wellbeing
partners and IoT. Increasing engagement with clients and getting additional
data to personalise the experience.
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The DIG front-end suite
The transactional tools service covers fraud and risk scores, quotation,
personalized pricing, buying and customized products. Based on individual
customer profiles, DIG calculates a recommendation for the most suitable
policy cover including add-ons where applicable.
Product pricing is dynamically based on customer input. The shared front-
end framework allows for new services to be launched quickly for web or
mobile (iOS or Android).
API & normalized data & business logic suite
Quote& Buy
Customer Portals / Apps
Productdbasesor API‘s
PolicyAdminSystems
Claimsdbases
Legacy Partner Systems
Third PartyAPI‘s
Module Quote & BuyModule Agent Portal
Module Customer Portal WebModule Customer Mobile App
AgentPortal
FRONT END SUITE
API LayerData normalizationInsurance Policy
Pricing tables & discount modelsProduct tablesInstant acceptance rules
API & MIDDLEWARE SUITE
Quote and buy tools
• New products live in record speed
• Easy and attractive online transactions
• Start new business models
• DIG is fully integrated with credit score providers for identity
confirmation and fraud checks
• Extended and customizable questionnaires for higher value policies
• API interfaces to external data source for additional client data Full
integration with payment provider for easy payment initiation and
tracking
• Ability to download and send policy documentation on payments
The DIG insurance solution offers a complete and simple-to-use digital transaction tool. DIG operates in a customer-friendly
manner with a responsive chat-style tool for mobile and web to
make it easy to buy and manage insurance coverage for all markets.
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Customer portal and wallets
• Easy access and self service
• Wellbeing ecosystems
• Telematics, IoT and prevention
• Overview of policies and coverage (running and expired)
• See all chosen add-ons, invoices, payments and beneficiaries
• View and edit policy information
• Change payment method, frequency and beneficiaries
• First notification of loss
• Add existing policies
• OCR technology to upload documents
• Risk assessment tools
• Telematics
• Wellbeing systems
• Prevention services
• Flexible omni-channel support tools
• Push notifications
• Supervised robo-advice service
The responsive mobile and web application enables policy holders to
manage their portfolios of insurance products at their convenience. With a
comprehensive overview of all products held along with the full transaction
history, the portal promotes self-service for maintaining customers’ personal
information and beneficiary lists.
Policy Management
Sales and Onboarding
Ecosystem support
Customer support
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Agent portal
• Support the client on all journeys
• Make personalized offers based on client data
• Overview of all policies, customers and opportunities
• Functionality to view and manage customer details
• User and role management
• Profile overview of the agent
• Bilingual user interface
• Reporting options
• Flexible omni-channel ERP and CRM tools
A full-functionality desktop web application allows agents to manage and
support clients with deep insight into all policies, customers and potential
opportunities. Agents can review their client base and step in to clarify and
assist customers through the process with personal and timely interaction,
including identifying new sales and service opportunities.
The simplified sales funnel is implemented through a chat-style sales process.
This process is easy and greatly simplified in order to return increased
conversion that enables clients to easily buy online from one or many insurer
portfolios.
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How we work
Across all our engagements, we work Agile and use the Scrum framework
where we focus on continuously delivering value to our customers and
their user base. We deliver working software from the first release onwards
because we believe that no matter how good the design is on paper, you will
not get it right until you have the real deal.
By delivering fast and often we launch projects that succeed, add value to
the business and drive a compelling experience with all users.
In every project we have proven that we deliver on time, on budget and
exceed expectations for our customers.
A multidisciplinary, cross-functional Scrum team is dedicated to each
engagement. In addition, a project manager, product owner and scrum
master will also be assigned to the team.
ProductBacklog
1 ScrumTeam
SprintPlanning
SprintBacklog
SprintRetro-
spective
SprintReview
Increment
Daily Scrum
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The Digital Insurance Group
The mission of DIG is to positively impact the lives of millions of people by giving them access to the right insurance and peace
of mind – in a truly digital way. DIG enables insurers to build new propositions from scratch or on top of their existing systems,
with a unique short time-to-market by leveraging over ten years of insurtech experience and the use of DIG’s existing library of
extendable components.
DIG has experience with insurers, brokers and bancassurance players in multiple global markets. DIG currently works with many
key global players, all built on initial digital experience gained in the most mature European markets. DIG aims to work closely
with our clients’ project teams in order to validate the solution choices based on project experience from around the world to
make the solution the best in class.
Ingo WeberCEO Digital Insurance Group