CASE STUDY

Cloud-native InsurTech platform for policy issuance, claim management, and advanced referrer management

Client :

Undisclosed

Client & Project Background Information

One of Germany's largest insurance providers sought to launch a new insurance product line to extend product warranties at the point of sale (POS). This solution allows consumers to insure physical goods, such as refrigerators or furniture, directly at the time of purchase. The goal was to deliver a core backend system that facilitates white-label portals for retail chains, enabling them to offer insurance products under their own branding. This system adds significant value and generates new revenue streams for retail chains, and offers peace of mind to customers through easy and automated insurance processes.

"This project perfectly illustrates how our team excels when the challenges are toughest. From the outset, we knew a scalable, white-label InsurTech platform would invite real innovation—especially in automation. By pairing deep technical expertise with a truly agile mindset, we delivered a solution that propels our client forward and positions them to navigate the coming decade with confidence."

Henning Thole

Co-Founder & CEO, VT Netzwelt

The Challenge

Developing this system required addressing several complex challenges with innovative solutions:

  • White-Label Flexibility: We implemented a modular and scalable architecture that enables rapid customization and deployment of white-label portals tailored to the unique branding and requirements of various retail partners.
  • Seamless Integration and Automation: Real-time data transfer from POS systems to the insurance backend was established, automating the mapping of core purchase details such as product type and price. This not only eliminated manual errors but also streamlined the user experience.
  • Comprehensive Functionality: Designed a centralized system that simplifies the entire insurance lifecycle, including policy purchase, management, claims filing, and document generation, all within a user-friendly interface.
  • Scalability and Performance: Built a robust, scalable system capable of supporting millions of users, multiple retail chains, and high-volume operations while maintaining reliability and availability.
  • User-Centric Design: Leveraged ReactJS to develop intuitive and visually appealing front-end interfaces, offering seamless navigation for both retail staff and end users.
  • End-to-End Process Automation: Automated the entire insurance policy lifecycle, from purchase to claims processing, reducing overhead and ensuring adherence to industry standards.

Our Contribution

We developed the insurance system from scratch, addressing all aspects of the project with a focus on scalability, user experience, and automation. Key contributions included:

  • Core Backend Development: Created a robust backend system using Node.js, designed to handle large volumes of data and support multiple retail chains with unique configurations.
  • White-Label Portals: Delivered a modularized system enabling retail chains to offer insurance products under their own branding seamlessly.
  • Seamless Integration with POS: Implemented a system for automatically transferring purchase details (e.g., product type, price, and purchase date) from the POS into the insurance system, simplifying the insurance purchase process.
  • User-Friendly Policy Management: Developed intuitive front-end interfaces for insurance takers to view available products, manage their policies, and file claims effortlessly.
  • Claims Process Automation: Built a streamlined claims management system for users to log in, access digital policies, and file claims directly through the platform.
  • Document Generation: Integrated automated policy document generation (PDAG) to provide digital insurance documents instantly.

Achievements

The system has been a resounding success, with significant accomplishments including:

  • Wide Adoption: Rolled out to over five globally renowned retail chains, providing each with a unique white-label solution.
  • Industry Recognition: Praised and awarded by numerous industry magazines for its innovative design and impact on the insurance sector.
  • Enhanced Revenue Streams: Created new revenue opportunities for both the insurance provider and retail chains through seamless integration of warranty extensions at POS.
  • Improved User Experience: The automated and user-friendly system has been well-received by both retail staff and customers, driving high satisfaction rates.
  • Global Scalability: The system’s modular and scalable design positions it for continued growth and adoption in new markets.

Conclusion

This project exemplifies our expertise in developing scalable, flexible, and user-centric solutions for complex business challenges. By delivering a robust and modularized insurance system, we have empowered our client to enhance their offerings, streamline operations, and solidify their position as an industry leader. This success story underscores our commitment to innovation, quality, and customer satisfaction in delivering transformative solutions.