Digital Insurance Agenda

REALYTIX ZERO: automated underwriting to configure products without the need of IT developers

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Apr 8, 2022

Developing and adjusting insurance products fast, integrating many data sources into the underwriting process and selling digital products via new distribution channels is still a challenge for many players in the insurance industry. REALYTIX ZERO enables pricing experts to configure products quickly without having to rely on IT-developer resources.

REALYTIX ZERO is a worldwide scalable technology platform to digitize and automate single risk underwriting. The cloud-based platform is built on low-code/no-code principles, offering a vast API-driven ecosystem. With this platform, primary insurers or MGAs can launch, distribute and scale new or existing insurance products faster, save costs and increase process efficiency. Product questionnaires, pricing and underwriting rules can be self-configured and distributed via API or UI.

The API capabilities allow easy integration of external data sources and AI algorithms with a plug-and-play approach to augment the underwriting process. Different settings per distribution partner can be realized via multi-tenant capabilities. The event-driven integration layer allows connections to any other system, such as policy administration systems. All of this can be done within just a few weeks instead of years.

How it works

Imagine an insurance company or an MGA wanting to digitize a new or existing product (e.g. excel pricing sheet). With REALYTIX ZERO a pricing expert self-configures the product according to the specifications set. The Rules/Pricing/Document engine is running according to specifications of the product owner. External data sources can also be integrated via the API ecosystem. With this quotes can be provided and bound by a broker or agent via a web user interface (UI) or an API connection and Reporting and Analytics are available to manage the portfolio.

Why did we select REALYTIX ZERO for DIA Amsterdam 2022?

REALYTIX ZERO was selected for DIA Amsterdam as it is catapulting its proposition in the insurance industry after proves successes within the Munich Re Group. It is a low-code/no-code application with strong API integration capabilities. This makes the underwriting platform a tech offering that covers some of the main digitalization trends in the insurance industry – low-code/no-code and API-driven ecosystems

The easy-to-use Product Studio allows pricing experts with no IT-developer background to start configuring after a short explanation and introduction. This includes setting up an insurance product including questionnaires, pricing, business and referral rules, documents and emails. The technology platform is agnostic and can be used for all insurance products and markets worldwide.

At DIA Amsterdam Florian Niklas (CEO and Co-Founder) and Tanja Amling (Chief Product Officer) will present the self-configuration capabilities and distribution opportunities of the platform.

About REALYTIX ZERO

REALYTIX ZERO was created by underwriters for underwriters. The team and company were founded in 2016 as a corporate start-up of MunichRe and is based in Munich. Currently, it has more than 35 clients (insurance companies and MGAs) in five continents and more than US$ 150m premium was bound via REALYTIX ZERO in 2021.

“We started our exciting journey with the mission to make the product development and underwriting journey as intuitive and as fast as possible – now we are taking it to the next level, orchestrating an ecosystem that shapes the underwriting process of tomorrow”

Florian Niklas, CEO and Co-Founder REALYTIX ZERO
DIA Amsterdam 29-30 June

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