insillion Platform

For two decades we have been providing Insurance Tech Products and Solutions to Carriers, which translates to an abundance of Best practices, Do’s & Don’ts of applying Technology to Business problems. In the year 2017, we launched a program to disrupt ourselves initiating a Global market research, visiting North America, GCC, India and SEA regions.

We conducted several interviews with Business users, Underwriters, IT & Ops teams at multiple Carriers, Reinsurers, MGAs, Broking Firms, Agencies, Aggregators  and Affinity partners. This brought us closer to ground realities of the ecosystem and offered a clear picture of what the market needed for the future. The outcome was creating a new age digital platform that enables insurance product innovation that can scale to zillions of transactions - named Insillion.

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Omni-Channel experience for Traditional and Emerging Channels

 

Insillion’s Cloud-native and API first approach empowers a carrier to build strong Affinity Ecosystems connecting to Insurtechs and new age digital partners.

 

It transforms Carriers to launch next generation products and innovate for various distribution channels.

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Co-existence vs Replacement

The new platform co-exists with existing legacy IT core assets and at the same time provides a modern insurtech experience. 

While Core systems continue to do what they are best at - a “System of Records”, Insillion does what it is best at : “System of Intelligence” + “System of Engagement”.

No Code! Insillion’s dialect is XLS
 

Imagine Underwriter’s Product Rater spreadsheets directly being ingested into the Digital world - we just make that a reality. 
 

Excel Spreadsheet is a powerful tool with little learning curve for maintaining an Insurance Product and Insillion natively understands Insurance Product Excels. That means it recognizes Proposals, Quotes, Referrals, Rules, Endorsements, etc.
 

It is an NCDP (No-Code Development Platform) that automatically codifies the Premium computation logic, Rate tables, Underwriting rules, and Forms into Microservices and Front ends Portals.
 

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Why Should You Choose Insillion?

Insillion can help automate the insurance services such as underwriting processes, sales channel configuration, and more. It can provide various functions where a customer can get a quote, make a payment against an insurance policy, configure the data to customize the policy to cover a wide range of sales activities that may face different risks during transit, and more. It can allow insurance agencies to go paperless and produce accurate results.

What is off-the-shelf ?

Experience tells us that: “Product aspects (rating, forms, rules, masters, configurations) are best created and managed by Functional users; and Non-functional aspects (ACL, Security, APIs, Notifications, integration, Scalability) are best managed by IT users”. While Insillion platform empowers both worlds to work within their realm, it glues their outcomes in a manner elastic enough to provide flexibility without compromising on Quality and Compliance.
 

Each private cloud single-tenant instance of Insillion platform comes with the below:

  • For Functional aspects

    • No-code Excel-based development of Insurance Products

    • Ready Workflow templates for various Channel users/scenarios

    • 12+ ready modules for insurance processes - rate, quote, bind, issue, etc.

    • Configurator for managing product variations by Channel/users

    • Underwriting workbench for reviewing referrals, managing assignment rules, referral rules

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  • For Operational aspects

    • An industry-standard User Management layer with granular ACL, with support for various Auth types

    • API first approach - every action in the platform performed ONLY via its 300+ APIs 

      • Secure API ONLY prevents developers from accidentally exposing data

    • Interfaces

      • IT Console for controlling, monitoring, and troubleshooting

      • Dynamic Sales Portal for Agents/Sales teams

      • Ops interface for managing transactional flow and servicing

      • API interfaces for Brokers / Digital partners

    • For IT Power Users

      • Ability to create custom user interfaces via configuration

      • Ability to create custom transactional reports via configuration

      • Ability to extend Server functionality via Plugins for power users

The Advantages Of Insillion

  1. Meet your customer’s needs promptly:

Insillion allows you to customize your policies according to your customer's needs and provides a wide range of coverages for enterprises of all sizes. Insillion provides transparency, a great user experience, and ease of access to your customers. It helps you connect with them at the right time when your products are most relevant to their needs. 

   2. Target a younger audience using Insillion:

Using our software, you can target a younger audience who are highly interested in investing in insurance policies. The digital natives are searching for digital insurers they can trust, with whom they can securely and conveniently transfer payments and stay in business with in the future.

   3. Switch your operations to a digital platform:

Insillion’s key features provide you with ready-made templates for workflow and allow you to roll out new products and effectively market them through social media. You can retain existing legacy core systems and integrate them with more modern API systems which is more cost-effective than updating the programming on the old core systems.      

   4. Get a robust ecosystem and improve your sales growth:

The API approach offers an agile ecosystem ready for distribution and management. This will benefit your customers and your businesses alike. It will quickly create new revenue streams by encouraging your customers to buy a suit of interconnected products. It also helps you to be better prepared for economic changes or any kind of global crisis. With a robust ecosystem, your company could quickly adapt to these changes. 

 


By partnering with GoDB Tech’s digital platform you can kick-start your digital transformation now!