iptiQ: Providing bespoke end-to-end insurance solutions in partnership with the world’s most trusted brands
iptiQ provides Life & Health insurance solutions in the UK, US, Spain, France, Poland, Germany, Australia and the Netherlands, as well as Property & Casualty insurance solutions in Germany and Switzerland. iptiQ is transforming the experience of buying insurance by providing its partners with a tailor-made digital insurance engine and underwriting capabilities. Backed by 150 years of knowledge and expertise from Swiss Re, iptiQ creates best-in-class end-consumer experiences through the intelligent use of data.
Their partners, who range from insurers, brokers, and banks to consumer brands, can benefit from offering insurance products that meet their customers’ needs. With 140 different product configurations available and continuous “test-and learn” optimization, they bring their partners something dynamic and fresh in the market. For example, thanks to their digital underwriting solution called Magnum, they are able to perform automated underwriting for a higher ratio than their peers. Their overall solution allows their partners to go live with selling insurance within months rather than years.
More than just an insurance engine
iptiQ is more than just an insurance engine. Their business model is based on forging strong partnerships to sell insurance via trusted brands. They don’t sell directly to the consumer, but instead provide digital, transparent and bespoke protection products in a B2B2C manner ensuring their partners remain in control of their customer base.
Through data insights and constant improvements based on testing the customer journey, they optimize sales and customer engagement. Thanks to this approach, they can improve conversion rates and lower distribution costs. As a result, insurance products become much more simple, accessible and more engaging. The combination of competitive products, swift partner onboarding and a seamless, streamlined consumer journey is building the foundation for their success.
How it works
Simplicity is the top priority at iptiQ. They offer a truly digital experience, from sales to policy administration. This can be easily tailor-made to any partner’s unique brand.
Users get a comprehensive digital proposition for life protection products within months; while enjoying:
- fast time to market
- minimum investment
- a new income stream from day one
- all provided by just one partner
Why we selected iptiQ for DIA Amsterdam
iptiQ’s solution allows its partners increased cost savings, sophisticated underwriting, greater customer engagement, a new role in the value chain and the possibility to open up new revenue streams in record speed. They offer a truly digital experience with the E2E solution.
At DIA Amsterdam Carl Christensen, CEO iptiQ EMEA Life and Health, will showcase how iptiQ is making insurance more accessible for their partners. He will walk the audience through the overall offering of iptiQ and also how this will evolve in the future. He will focus on the digital capabilities and customer experience of iptiQ’s solution, and the ease with which this can be tailor-made to any partner’s unique brand.
Who is iptiQ?
iptiQ was founded by Swiss Re in 2014 in order to improve the way that insurance is bought by consumers, thus helping close the global protection gap. The iptiQ EMEA Life and Health division is headquartered in Zurich, while the Americas division is based in New York. In 2018, they opened Life and Health operations in Australia and New Zealand. In addition, 2019 marks the launch their new Property and Casualty division, which will be operational in Germany and Switzerland. In total, they have established 5 operating companies in 8 countries since their birth, and they have developed a robust primary talent pool of nearly 300 FTE’s. Their number of distribution partners continues to grow, almost quadrupling from 5 to 19 over the past two years.
“iptiQ is transforming the experience of buying insurance by providing partners with a tailor-made digital insurance engine and world-class underwriting capabilities. Backed by 150 years of knowledge and expertise from Swiss Re, iptiQ creates best-in-class end-consumer experiences through the intelligent use of data. Our partners – who range from brokers, insurers and banks to consumer brands – can benefit from offering insurance products that keep their customers’ needs at heart.” Carl Christensen, CEO iptiQ Life and Health EMEA