Digital Insurance Agenda

tech11: Digital P&C Core Insurance Platform

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Mar 27, 2019

The tech11 digital platform is designed for the insurance industry in EMEA. It works for Greenfield or small Insurers and MGAs, which need an E2E system as well as for midsize or Global Insurers, which need to integrate new core modules into complex IT environments.

All insurance companies today are facing one common problem, which needs a solution: The legacy backends are the main barrier for Insurers to quickly adopt to rapidly changing client behaviour and expectations. Besides reaching operational excellence, it is key for insurers to open up their existing system landscapes to become part of growing Ecosystems.

The Insurance Platform of tech11 is leading in terms of Technology-Stack. The Stack is inspired by Architectures from Netflix, Uber and Twitter and is mixed with best maturity of enterprise technology. All services can be easily integrated via REST APIs. The Platform is designed as lightweight Microservices-Architecture: Perfect to integrate and easy to scale. It runs On-Premises or fully Cloud-based. This has a significant impact on client’s benefits:

  • Speed: The Go-to-Market-Time is extraordinary fast. Configuration of new insurance products from scratch can be done within only hours.
  • Automation: The Container-based architecture is designed for 100% shadow processes. Manual user tasks (if any) are directly transferred to a usable Task list.
  • Usability: The platform replaces complexity through Usability. The modern & intuitive UI is designed as responsive Single-page-Application.
  • Speedboat: Clients who want to test product innovations, new markets or new digital partnerships can use the core insurance platform as “Speedboat” to run E2E business without involving the internal IT.
  • Business Content: The platform is shipped with out-of-the-box reference products, processes and document templates. Easy to adapt. Quickly to deploy.
  • Enabling: Clients and Partners can be enabled within only days, since there is a strict usage of only market and technology standards.
  • Economies of scale: There is a significant impact on reduced IT and maintenance costs, less HR costs due to the increase of automation and higher customer satisfaction due to real Omni-Channel capabilities.

The first major client was won after only 6 months market presence. The client is a German insurance company which will replace its entire host-based policy & claims legacy system for all private and corporate P&C business lines.

How it works

Why we selected tech11 for DIA Amsterdam
Legacy back-ends are the main barrier for insurers to quickly adopt to rapidly changing client behavior and expectations. Besides reaching operational excellence, it is key for insurers to open up the existing system landscape to become part of growing ecosystems.

tech11´s core insurance solutions are able to manage complex requirements running stable and secure policy and claims administration with a fully disruptive approach regarding both, use of technology and facilitate business operations. tech11 is the digital provider for the insurance industry.

Who is tech11?
tech11 is founded in 2018 in Germany by Pierre Dubosq and Matthias Reining.
Pierre is an entrepreneur with a strong business development attitude, leading different IT companies in the insurance industry in EMEA as Sales or and Managing Director in the past 15 years. Matthias is a tech guy with almost 20 years’ experience in the insurance industry. He worked in many IT projects across Europe in different fields: from software development / architecture over project management up to presales – always with a strong passion for technology.

The tech11 platform is production-ready for all core modules: Policy & Claims Administration, Product & Tariff Engine and Document & Processes Management System. Regional focus EMEA. All-equity is financed by the founders.

Matthias Reining (left) & Pierre Dubosq (right), Founders tech11

At tech11 we want to disrupt the complex world of core insurance, being today´s key barrier for insurers to adopt in a rapidly changing digital world – understanding ourselves as close and exquisite technological partner of insurers and reinsurers.” Pierre Dubosq, Managing Director & Co-Founder of tech11

https://tech11.com/en/

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