How to build a full digital insurance brand, in 10 months, from scratch

How to build a full digital insurance brand, in 10 months, from scratch

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on 1 Oct, 2021

This summer, DIA organized a webinar with Ana Zovko, Chief Digital Officer at Croatia osiguranje, the oldest and biggest insurance company in Croatia, centered around the adoption of telematics technology in the insurance industry. Our guest host was the CEO and founder of Amodo, Marijan Mumdziev. Amodo enables insurance carriers and brokers to create usage-based products build on insurance telematics – to analyze data, create engagement and communication strategies, and market new products within the platform. Ana Zovko emphasized their responsibility as a market leader to drive innovation on the insurance market. Together with Amodo, they enhanced the first one hundred percent digital insurance brand in Croatia, LAQO, with LaqoPrevent program. Ana and Marijan actually met in 2019, at DIA Munich, although both Amodo and Croatia osiguranje are Croatian companies. Their joint mission was to encourage responsible driving behavior, maintain good drivers and ultimately preventing accidents on the roads: this is how LaqoPrevent started.

LAQO, a full digital insurance brand made by Croatia osiguranje, was built in 10 months, from scratch. Around 2019, many startups were rising in Europe along with many industries that adapted those changes. The insurance industry in Croatia is extremely traditional with very little steps of digitalization and it was falling behind. Next to that, clients were asking for a new concept. “I can purchase shoes online, I can purchase goods online, I can do whatever I want online. Why can’t I buy policy online as well?” Finally, young people are involved in accidents, with speeding and cell phone use. The intersection of these three trends gave an opportunity to give something back to society.

Digital, Easy and Effective.
Buying the policy and using the LaqoPrevent program is made as easy as possible. 60% of sales are coming directly from online. For people who are not familiar with buying online, they introduced a small “chat” center, educating people how to buy a policy online. It’s a simple process to buy a policy, as customers only fill in the data they know on top of their head, no policy numbers and other difficult things. Once you buy the policy, you can download the app. The LaqoPrevent program is part of this app. So, in this app you cannot only review your policy, your greencard etcetera, you can use the LaqoPrevent program directly. But how do you market such a program? Ana: “It was important for us to give this technology for free, because together we want to prevent accidents. We did not want the technology linked to the policy price. It’s an expensive technology and we gave it away for free to our clients. Also, branding was done separately for this program.”

At LAQO, they got rid of all the paperwork, replaced branch offices with web and mobile application and they have created a product that respects the time and habits of modern users. They launched a platform, LaqoPrevent which encourages good driving behavior with games and challenges in which the best drivers and those who managed to improve their driving behavior can win prizes. On the other hand, for instance speeding and using a cellphone while driving reduces users rating. Save and responsible driving should be fun, and with advanced technologies and gamification responsible driving is made more enjoy">

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