Helvengo: Full-Service-Insurance-Platform to create products at lightspeed
Brokers are often still limited to offering standard products of partner insurance companies to their customers. However, the requirements of customers are not always adequately reflected in the existing product landscape, especially in the commercial lines sector, putting pressure on insurers to innovate on insurance product development.
As a result, sales partners are undertaking complex and lengthy IT and product development projects together with risk carriers. Oftentimes, there is not enough people on the platform and product development side, putting the success of the project at risk. Furthermore, it is difficult for brokers (or even non-insurance partners) to set up a company structure to run their own insurance products.
Helvengo offers 360 insurance solutions with which SMEs can benefit from an end-to-end digital process including an AI-based risk analysis and automated quote calculations. Its platform enables customisation and effective and easy realisation of innovative insurance products. It empowers risk carriers to quickly create insurance products for the future.
Helvengo can help risk carriers with insurance product development and pricing with its team of underwriters and connecting operations- and claims professionals. Unlike other software providers, the company runs a full-service approach: an insurance platform PLUS. Helvengo acts as a one-stop shop, connecting distribution partners that have knowledge about specific target groups with forward-thinking risk carriers who are eager to serve these target groups with innovative insurance products.
Hence, its MGA-as-a-Service platform enables offering fast time-to-market with products that better serve the risk carrier’s customers with full transparency and control.
How it works
Matching distribution partners’ needs with the right risk carrier on one platform is Helvengo’s starting point. An already existing pan-European Master MGA framework keeps regulatory challenges to a minimum. Lack of resources and/or expertise at the risk carrier can be mitigated through internal Helvengo experts or the use of an already integrated partner network. This way, Helvengo not only offers an optimized MGA software solution for different use cases, but also supports product-, underwriting-, and process expertise.
Why did we choose Helvengo for ITC DIA Europe 2023?
Helvengo closes the discrepancy between the distribution side’s need for flexibility and the risk carrier’s legacy system in an efficient way. Secondly, Helvengo supports innovation and pilot projects around data-driven product innovation in a collaborative approach with the carrier using its API-ready, greenfield MGA platform.
Helvengo’s cloud-based platform not only provides all necessary processes for new business and policy administration, but it also offerrs different front-ends for its user groups in a unique, MGA setup with n:n relationships.
Helvengo is already live in Switzerland with two projects, and more will follow in Germany and Switzerland.
At ITC DIA Europe 2023, Felix Huemer, Co-Founder & CEO, and Benedikt Andreas, Co-Founder & COO, will take the stage to show the interaction of Sales partner onboarding and product configuration, third-party data integration, and risk carrier onboarding on the Helvengo platform.
Who is Helvengo?
Helvengo was founded in 2020 by Felix Huemer, Co-Founder & CEO, Benedikt Andreas, Co-Founder & COO, and Vedran Pranjic, Co-Founder, CSO & CMO. Felix formerly worked as Director of International Expansion at wefox Group & MD wefox Austria and as a Management Consultant at EY and Detecon. Benedikt formerly worked as Director of Transformation at wefox Group & COO of wefox Switzerland and has experience in Consulting at Google and Porsche.
Helvengo is headquartered in Zurich, Switzerland and has offices in Munich, Germany, and Porto, Portugal. Helvengo’s key investors are TX Ventures, Postfinance, PlugAndPlay, Anamcara Capital, Seed X Liechtenstein, Hypoport and Mountain Partners and has currently raised 4.9 Mio USD.
“Helvengo’s insurance platform has the potential to realise a seamless risk transfer with products that consider risks to be predictive rather than historically assessed.”Felix Huemer, Co-Founder & CEO