Digital Insurance Agenda

IMburse: leveraging payment technology to maximize customer engagement & business efficiency

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Sep 16, 2019

Imburse, the promising startup from Switzerland simplifies the integration of payment technology into complex/legacy IT systems. Their platform is globally active, and their core markets are Europe and the UK. They are expanding to the US in 2020. Their solution is innovative because it solves major issues insurers have by removing the need to map processes in core IT systems.

They target multi-national organizations, multi-entity organizations as well as companies with legacy IT systems. By removing the need to map processes into core IT systems, a single connection to Imburse unlocks all payment technologies (collect and pay out) in all markets. Changing payment technologies or providers can be done in minutes at zero cost.

For their target clients they significantly reduce costs (95%), increase process efficiencies, modernize systems and help them better engage customers. Being able to freely choose payment technology is a freedom insurers need.

Imburse is the winner of the Finance-IT Innovation award 2019 in the Ecosystems Category, allocated by the Business Engineering Institute. At the moment they serve 4 insurers, three Tier 1 and 1 global reinsurer.

As easy as a few clicks, zero integration work
Imburse has no direct competition because traditionally the payment industry focusses on collection technologies only, not payout. They bring together collection and payout into one platform, for all markets and transaction sizes. They also focus only on simplifying the integration to insurer IT systems, which is different to payment gateways in the market that try to bring together payment technologies (but collection only).

So, actually they solve their client problems with one platform, addressing all payment needs in one place. Imburse is vertically agnostic, being able to scale into other verticals with zero customization.

Without Imburse insurers manage multiple integrations with the various payment technologies out there. With Imburse they have a single integration and single reporting file, no matter what changes happen in the payment industry.

How it works

It is a very user-friendly, secure and quick way to leverage payments to build better customer journeys and products. No integrations with payment technologies needed ever again for insurers. Full flexibility forever.

Why we selected Imburse for DIA Munich
At DIA Munich Oliver Werneyer, Co-founder and CEO will show a live demo of the platform, focusing on showing how easily reward programs and claim payout capabilities can be set up on the platform. This way insurers can get a feeling how simple it is to build new products and partnerships via Imburse (as easy as a few clicks, zero integration work).

At DIA Amsterdam they presented an intro to the tech. Now they are live with many clients, have many use-cases and the technology has evolved a lot. They have a new functionality and more variety to show.

Check out their live demo here:

Who is Imburse?
Imburse was founded in February 2018 in Switzerland by the 4 founders: Carl Strempel, David Scott Turner, Mark Jerome and Oliver Werneyer. They are active in 5 core markets Switzerland, Germany, UK, Portugal and Spain and are expanding rapidly throughout Europe: with the Netherlands and Belgium going live imminently.

Imburse raised about € 1 million in funds, busy closing their second round of funding by 12 September. They have a mix of angel investors and institutional investors, SixThirty VC (US) and FGOI (Germany). Imburse is live and has multiple insurance and reinsurance clients, with recurring revenue. They have also established partnerships with Visa, Avaloq.

“There is neither a lack of payment technologies that customers want nor a lack in desire by insurers to better engage consumers. It’s just hard to connect on an IT level. We just want to make this easier for all parties involved.”
Oliver Werneyer, CEO and co-founder Imburse

The Imburse team: Oliver Werneyer, Carl Strempel, David Scott Turner, Mark Jerome, Bruno Soares

Barcelona 27 - 29 June 2023


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