Digital Insurance Agenda

vlot : leveraging tech to simplify the life insurance journey

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Nov 11, 2019

From an end-customer perspective, vlot provides easy access to a holistic analysis of available state and employer related risk benefits and allows to seamlessly close an identified income gap. Focusing on B2B, they support insurers, banks and corporates / employers to be present in context of their clients’ or employee’s relevant life events and decisions. To help them to deliver impactful advice, create valuable leads and unlock untapped revenue streams. vlot has projects running in Switzerland as well as Germany and is about to explore first concrete opportunities in both Asia and North America.

vlot puts end-customers and their magic moments such as giving birth to a baby or buying a house at centre stage. The startup helps to evaluate what the customer’s real coverage needs are, by means of a holistic (country-specific) income gap analysis. And it does not stop after life insurance was bought but adjusts as life situations change.

They have first live cases up and running in Switzerland and Germany. Apart from doing business with major Switzerland-based primary insurers in B2B white label contexts, vlot partners with elipsLife AG, a subsidiary of SwissRe for their full-fledged, B2C offering which is live since February this year.

In Germany they are in the middle of a B2B white label pilot, where vlot and its income gap algorithm is embedded in a live D2C offering with a large German insurer. They are the winner of People’s Choice Award (2019): InsurTech Europe Batch One powered by Plug and Play and the 1st Place Public Voting (2018): Startup Insury Award powered by the Magic of Innovation (MOI).

How it works

Why we selected vlot for DIA Munich
Push strategies are becoming less and less effective. Pull is about understanding and solving the need behind the insurance solution and being present in that context. Insurers need to move upstream and be present in the context of specific life events and decisions, big and small. vlot doesn’t stop after life insurance was bought but they give ongoing guidance as to when a coverage amendment makes sense.

As a DIA alumni, vlot presented a B2C prototype solution last time it was on stage.  Now at DIA Munich Daniel Schmidheiny, COO and co-founder will show the enhanced B2B2C platform while focusing on two key features: their corporate lead generator and the integration of a fully digital underwriting solution. He will do this alongside their partner RGAX. RGAX is the “transformation engine” of Reinsurance Group of America, a leading global provider of life reinsurance and Fortune 500 company. While still keeping the core algorithms in place, vlot has developed an insurer portal, where employee benefits can be defined and stored as base for corporate specific calculations. Insurers and brokers/agents can now deliver services and advisory tools to large affinity groups, using the employer brand as entry point and the vlot technology stack as electrolyte to simplify the risk assessment and create awareness. By using the power of AURA and RGA’s extensive underwriting and behavioural science expertise and combining it with an API-based interview service, vlot can offer the full customer experience of risk analysis, product suggestion, medical underwriting and policy administration.

Check out their live demo here:
https://www.digitalinsuranceagenda.com/dia-tv/video/supporting-customers-to-to-take-informed-financial-decisions-with-rgax-powered-underwritingpal/​

Who is vlot?
Founded in 2017 in Switzerland by Sandro Matter and Daniel Schmidheiny with the aim to make life insurance solutions simple and accessible to end users. 
Daniel is the owner of an insurance broker company, was the risk analysis partner for one of the largest mortgage brokers in Switzerland and offered consulting services for SMI-quoted corporates. Sandro has extensive working experience in banking, latest focus on business management and strategy & business development initiatives at Deutsche Bank WM (EMEA region). He holds a Master of Arts (M.A.) in Banking & Finance (University of St. Gallen).

Key partners: elipsLife AG (100% subsidiary of SwissRe) and RGAX. Others currently under NDA.

Funds raised to date: 2.15M CHF; with the aim to raise an additional 4M in a Series A round in Q2/Q3 2020.

”The initial spark for vlot emerged from my daily practice as an owner and CEO of an insurance broker company, realizing that life insurance distribution was up for a radical change.” Daniel Schmidheiny Co-founder & COO vlot

From left to right: Daniel Schmidheiny, Co-founder (and presenter), Sandro Matter, Co-founder, Rémy Milia, Software Engineer, Kyle Edwards, Business Development, Michael Dritsas, CEO, Jonas Bösch, CTO, Michèle Matter, Office Manager.

https://www.vlot.ch​

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