Digital Insurance Agenda

MicroSavings: Off-the-shelf white labelled micro-savings solution for insurers

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Sep 3, 2021

Increasingly more customers are looking to build up their savings. The pandemic brought huge economic uncertainty and served as a catalyst for people to become more financially aware and improve their savings habits. However, traditional savings tools are not giving modern consumers the flexibility they require to save more.

Saving platforms are already a proven mechanism for companies to take an active role in their customers’ savings journeys and develop meaningful relationships with them. Yet, deploying new technologies and solutions that connect them to their customers is expensive and difficult. That’s why Imburse and HITS created MicroSavings: an off-the-shelf, fully customisable savings solution that enables insurers to enrich customer interaction, improve customer insight and generate new leads, whilst helping customers achieve their financial goals.

This solution is built on Imburse’s existing marketplace. Imburse connects any organisation, regardless of its existing IT infrastructure, to the entire global payments ecosystem through one single connection. Their innovative marketplace makes it easy, fast and inexpensive to deploy new technologies, for both collections and pay-outs.
Injecting innovation into corporates is where HITS comes in. They match corporate needs with start-up solutions shaping and nurturing partnerships between the two to accelerate and scale corporate innovation. After a match has been created, they facilitate and lead workshops to implement the solution into the corporate world.

How it works

Companies can let their customers choose their own saving rules and collection options, giving them full flexibility to tailor this service to their specific needs. Payments can be tracked via credit cards or bank accounts. Because MicroSavings is connected to Imburse’s marketplace, companies are able to select any payment provider they want, including their existing provider.

Why we think you should definitely keep an eye on MicroSavings

Customers today are tech-driven and want tailored solutions that they can easily adapt to their own financial goals. Even though traditional insurers are continuously looking for ways to meaningfully engage with their customers, they don’t have the technology or payments expertise to deploy modern solutions. That is where MicroSavings comes in. MicroSavings is easy to integrate into any IT system and enables companies to offer fully customisable savings experiences that provide regular customer interaction.

Who are Imburse and HITS?

Imburse was founded in 2018 by Oliver Werneyer (CEO), Carl Strempel (CFO), David Scott Turner (CTO) and Mark Jerome (Head Developer) and is headquartered in Zurich, Switzerland, with offices in Lisbon and London. 

Though Imburse works primarily with insurance clients, their solution is vertically and geographically agnostic. They partner with companies such as Microsoft, Guidewire, EY and Accenture to take their product to market and to make it as easy as possible for insurers to access their technology. Imburse has recently raised its Series A funding round with renowned investors with the likes of DST, Addition, Lakestar and Guidewire.

Founders of Imburse. Left to right: David Scott Turner, CFO; Mark Jerome, Head Developer; Oliver Werneyer, CEO; Carl Strempel, CFO

“Insurers are under immense pressure to better engage their customers and deliver operational efficiencies. At Imburse we deliver the tools for insurers to achieve both.” Oliver Werneyer, CEO of Imburse.

House of Insurtech Switzerland AG (HITS) was founded in December 2019 is a subsidiary of Generali (Switzerland) Holding Ltd. HITS is located in the Innovation Garage in the Generali building in Adliswil. HITS focuses on building partnerships with startups to co-create and scale-up innovative solutions.

“Corp-Up, in a nutshell, if done properly it can be an acceleration of digital transformation for incumbent and accelerator of scale-up for startups. . HITS aims to find, through market test, the perfect recipe for InsurTech Corp-Up, at scale.” Pietro Carnevale, CEO
Patrick Blöchlinge, Lead Operations / Key Account Manager 

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