How can companies use Sure to launch insurance products?

Sure is a tech platform providing companies with the necessary APIs to launch insurance products quickly and efficiently. It recently raised $100M at a $550M valuation. It offers an array of services and functions that help companies launch and maintain insurance products and monitor risk.

This article will discuss how companies can use Sure to launch insurance products.

What is Sure?

Sure is the leading globally-recognized SaaS platform for launching and managing digital insurance products. Using the Sure platform, insurance companies can easily launch innovative products that their customers love, removing the complexity of introducing a new insurance product quickly, without disrupting existing systems.

Sure removes the need for companies to build complex technology systems from scratch whenever they want to launch a new product or service. Instead, sure enables companies to create and configure their end-to-end digital product in minutes with its simple user interface, configurable setup, and powerful back office capabilities.

Using Sure reduces time-to-market and enables companies to offer competitively priced products that meet customer needs and compliance requirements. Sure helps companies accelerate profitability with comprehensive product lifecycle management tools such as pricing optimization analytics and automated marketing campaigns that help reach target markets more efficiently. In addition, insurers can tap into Sure’s ecosystem of partners including banks and technology providers to secure platforms with access to payment gateways, analytics tools, customer care services and more.

Sure makes it easier than ever for insurers to create digital systems quickly and scale up their operations cost effectively as needed – making it perfectly suited for today’s digital business environment.

What does Sure offer?

Sure is an innovative, modern insurance technology platform designed to simplify launching and managing global insurance products. By leveraging Sure’s sophisticated platform, insurers gain access to market opportunities in faster, more secure and cost-effective ways than ever before possible.

Sure offers comprehensive end-to-end functionality to assist companies in launching, managing and evaluating their insurance products from conception through issuance. Sure features powerful API solutions to help ensure the highest level of security and resiliency during transmission. With Sure, companies enjoy integrated solutions from product creation to distribution – providing a single view of all their customer data, ensuring data integrity on a secure cloud platform.

Furthermore, Sure streamlines operational efficiency by automating manual processes with intelligent automation solutions easily integrated into existing system environments. In addition, Sure’s flexible architecture enables companies to develop new capabilities at an accelerated rate. At the same time, its advanced analytics tools provide insights into customer behaviour across various channels – helping businesses better understand their customers’ needs and design more relevant products in response.

In summary, Sure provides comprehensive services enabling insurers worldwide to achieve the greatest success when launching insurtech initiatives and modernising existing systems through streamlined operational efficiency, advanced analytics and unparalleled security measures.

Benefits of Sure

Sure has raised $100M at a $550M valuation to provide companies a platform to launch insurance products with its ‘flexible’ APIs. This is a great opportunity for companies to leverage the Sure platform, allowing them to rapidly expand their operations and explore new business opportunities.

This article will look at the key benefits of using Sure.

Flexible APIs

Sure provides a suite of APIs that enables companies to quickly and efficiently launch insurance products. Their flexible, secure platform can efficiently manage hundreds of thousands of customers from one place, while automatically managing customer data and claims. This helps to reduce the cost and complexity of launching an insurance product.

By taking advantage of Sure’s secure APIs, companies can increase their customizability by personalising their services according to their user’s needs. Sure allows companies to offer protection plans tailored to each customer’s needs to maximise the value they bring customers. By leveraging their API technology, Sure can help companies manage customer data and quickly efficiently launch new solutions—without needing expensive staff or costly training sessions.

In addition, these flexible APIs provide powerful insights into customer trends and behaviour patterns so that product owners have the proper understanding necessary for entering new markets or rolling out additional services. With this insight, businesses can quickly adapt existing strategies or create new strategies for thriving through changing conditions. Furthermore, this can also lead to increased savings for businesses since functions such as updating plans and managing customers can now be automated with the help of these APIs. Therefore, by leveraging Sure’s flexible APIs, businesses can significantly reduce costs related to launching insurance products while increasing user customization capabilities.

Access to Insurers

Sure provides customers access to insurers specialising in insurance products tailored to their needs. Through Sure’s platform, companies can work directly with the insurers to develop policies specific to the company’s operations and goals. Sure also helps guide companies through the complicated process of setting up, managing and scaling their insurance policy. This includes providing customer support, compliance tools and more.

Additionally, Sure offers direct integration with other industry-leading companies such as Allianz, AIG and American Family Insurance and APIs for companies that need access to various insurers. Direct integration allows customers access to unique products outside their offerings and an ever-evolving suite of products tailored for their business. With Sure, companies can drastically reduce the time it takes to launch or update policies, enabling them to focus on what matters most—growing their business without worrying about complicated insurance processes or paperwork.

Automated Underwriting

Sure offers automated underwriting, which is the process of evaluating an insurance risk for acceptance or rejection. By leveraging Sure’s data-driven technology, insurers can leverage the power of machine learning to get more accurate and complete customer insights. Sure’s intelligent models make accurate and reliable real-time decisions, allowing companies to launch commercial lines and specialty products without lengthy manual underwriting processes.

The automated underwriting capabilities provided by Sure allow you to accept customer applications faster and reduce costs by eliminating costly paperwork. It also allows you to gain insights into customer behaviour that can help you develop more targeted products and pricing strategies. Automation reduces variations in customer profiling while increasing accuracy and consistency across your organisation’s portfolio. Establishing anonymized databases of existing customers helps streamline application submissions, enabling companies to learn from customer experience to better serve them in the future.

With automated underwriting, companies can develop effective risk assessment systems that remain compliant with changing regulations across different markets globally.

Sure raises $100M at a $550M valuation to help companies launch insurance products with its ‘flexible’ APIs

Sure has recently raised $100M at a $550M valuation and offers innovative tools to help companies launch insurance products easily and quickly.

By using their ‘flexible’ APIs, companies can leverage their technology and create custom, lightweight insurance products that can be launched to the public.

This article will discuss how companies can use Sure to create and launch their insurance products.

Streamline Processes

Using Sure can help companies streamline their insurance product launch process. Sure provides a sophisticated platform for all the different processes of launching an insurance product. The platform allows companies to manage and report on internal and external resources. It also enables them to accurately outline their data sources, object mapping, user access management and reference data services.

The Sureplatform’s workflow drives from a product design phase through to underwriting and policy issuance; incorporating price quoting, rules engines, data access and policy issuance so there is no need for ramp up time or lengthy add-ons with each iteration of a product launch.

It is also important to note that Sure considers the data sources necessary for an accurate risk assessment by providing real-time access to external datasets. This eliminates manual processing tasks associated with aggressive quotes by allowing customers faster access to information via APIs with standardised integrations drawn from multiple external partners as needed. As a result users will find they can deliver accurate pricing across all channels in minutes rather than hours or days when using Sure’s platform.

Reduce Risk

Using Sure to launch insurance products can be a great way for companies to reduce their risk. With Sure’s end-to-end suite of services, you can use technology to streamline the launch process from developing a product strategy and regulatory filing expertise, to managing your pricing and distribution. As a result, it enables companies to move faster, reduce dependencies on external resources and build out an in-house team that specialises in product development.

Sure draws from a vast knowledge base of prebuilt products and the underwriting expertise needed for more complex customer needs. This helps companies keep up with ever-evolving insurance regulation laws and market trends. Companies can also leverage Sure’s integration with leading third party data sets to understand customer needs and better set pricing strategies.

Sure allows organisations to test their product before officially launching – using AI models that indicate how well each will do in the marketplace while accounting for customer needs such as interactivity, response rates & policy acquisitions. With detailed reports surveying customer feedback, usage insights & much more data organisations look for when launching an insurance solution – it gives firms the competitive edge they need going into market quickly & efficiently while reducing their risk of failure both in terms of time & capital involved in developing or acquiring a product or platform.

Increase Efficiency

Using Sure, companies can dramatically increase efficiency when launching new insurance products. The platform allows them to track and manage all components of a product launch, such as market research, risk modelling and pricing, product design and compliance management. Sure’s advanced analytics also give companies insight into their regulated market opportunities, allowing them to decide how to price their products and what new products or services might be most profitable.

The platform provides an easy-to-use interface that automates processes like document version control, asset tracking and providing comprehensive product portfolio reviews. It also simplifies customer onboarding with a seamless portal that assists with collecting data from prospects while enforcing regulatory requirements like KYC (know your customer) procedures. In addition, sure integrates with existing systems throughout the insurance process; these include external databases such as reinsurance pools or third party service providers used for functions such as claims processing. This eliminates the need for in-house development teams — instead companies can deploy teams of functional experts across marketing, sales operations, pricing & underwriting — driving speed-to-market innovation without taking on extra engineering overhead costs.

Case Studies

Sure has been helping to revolutionise the insurance industry by providing companies with the tools and resources to launch their insurance products. In addition, companies can access a range of customizable insurance products and services through its innovative APIs.

In this section, we will look at some case studies to examine how companies have used Sure to launch their insurance products.

Case study 1

Case study 1 shows how a large global insurer used Sure to launch new insurance products quickly. This organisation used Sure’s platform to develop custom business products that customers quickly adopted. By developing custom product offerings, this insurer was able to enter target markets promptly and become competitive with similar products already available on the market.

The insurer experienced success in launching and managing its products within two weeks by leveraging the Sure platform, which enabled them to manage product development and setup quickly. In addition, the comprehensive customizable product design process helped the insurer rapidly create new products that fit the needs of their particular target customer base. This allowed them to deploy new micro-insurances with minimal effort while ensuring quality coverage standards were met.

The ability to manage individual upsell campaigns allowed this large insurer to reach more potential customers while expanding their presence in various markets, increasing overall profits and reducing their operating costs. The exclusive features provided by Sure also increased their presence on multiple channels including web and mobile, boosting distribution numbers significantly across key geographic regions within the first quarter alone. Overall benefits of using the Sure platform included visibility into customer data insights that helped inform better decisions about product development and targeting opportunities for further growth.

Case study 2

This case study focuses on how Munich Re, one of the world’s leading insurance and reinsurance companies, leveraged Sure to launch a new product. Munich Re wanted to enter the new and growing market for digital travel insurance and needed a partner with an enterprise-grade technology platform that could launch quickly and efficiently.

Sure provided Munich Re a deep understanding of what their customers needed through its research capabilities, enabling Munich Re to rapidly develop products tailored to their specific needs. Sure also facilitated integration with other external partners and Munich Re’s existing infrastructure, allowing them to go to market quickly.

By leveraging Sure’s platform and research capabilities, Munich Re was able to successfully launch their product within days- significantly faster than traditional methods. This allowed them to capture the market opportunity quickly and gain a competitive edge. Additionally, Sure’s analytics enabled them to track customer usage over time, giving them valuable insight into customer behaviours and preferences. This enabled them to refine their product offering before it went into full production in some 34 European countries within six months of launching the initial product offering.

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