Teambase - InsurTech Innovation Award 2022

1. Teambase - Insurtech Innovation EMEA 2022

2. Business Overview
Overview
We at Teambase are a software development partner and technology consultancy, serving SMEs and corporations
across the globe. We help companies progress to the next level using Digital Transformation – developing and
deploying sophisticated technology solutions that address their current and future needs.
Teambase are headquartered in Dubai, UAE, and we have developed our flagship product BenefitNet which is an
InsurTech online platform for Insurance brokers and insurers. We help these players to better acquire and serve their
customers through a digital proposition.
We have successfully launched our platform with clients and partners in UAE, North Africa, Europe and Asia as the
BenefitNet solution is easy customizable for each region and we have also whitelisted the platform for our clients and
taken them from tedious manual approach to innovative online transformation through our Product.

3. Executive Summary
Overview
Insurance industry has been traditionally a technology adoption lagger. Many industry players are now realizing that
digital channels are important for many aspects of their business. (see research here)
Many are starting to feel the impact of pure digital players ( E.g., Oscar or Bayzat locally in UAE)
BenefitNet addresses the technology adoption gaps primarily in the areas of customer acquisition, customer service
and retention and operational efficiency. The application provides a modern and accessible customer experience and
is ideal for insurers and brokers who want to add value to their clients in areas such as policy management, claims
administration, invoicing, flexible benefits, total rewards statements and wellness.

4. Product Description
Jane Smith is an HR manager of Demo Corp International based in the UAE and is responsible for managing the
company insurance policy for her staff. The company has 550 employees and typical employee turnover is 5%
yearly. As a result, she needs to send emails daily to add new employees to the policy and to remove
employees who are leaving. This is a major administrative challenge for her. She only gets to see confirmations
about these transactions with several weeks lag. Since the policy premium is sizable (approx. 1.5 Mil USD) and
she is responsible for approval of the insurance invoices it takes her sometimes days to reconcile the
movements on the policy.
Last month, one of the Vice President’s newborn son has been admitted to the hospital and even though
Fatima has sent an email to her insurer (or broker) to add the child to the policy it did not happen and now the
VP must pay for the treatment out of pocket and Fatima needs to spend days providing the evidence to the
insurer and prove that the addition to the policy has been done correctly.
Her other challenges include visibility of the employee claims, accurate reporting, ensuring that employees
have their insurance details handy and more.
The policy will renew in July and Jane has met a new broker who has shown her the digital portal (BenefitNet)
that will eliminate many of these day-to-day challenges.
Use Case Example

5. Product Description Continued
Jane had a demo of BenefitNet and quickly
realizes that she will be able to:
1. Have a full visibility to all additions,
deletions, certificate requests and more
2. Have access to high level claims data
3. Have ability for her employees to access
the policy details, look for hospitals and
clinics and even add a new-born child to
the policy by themselves.
4. Will be able to see accurate reporting and
track insurance servicing level (based on
agreed SLAs)
5. Even if she changes insurer next year the
experience will remain the same

6. System In Action
1
2
3
Employee requests and
addition of his newborn
daughter to a policy.
HR Manager receives the
request and approves or
rejects it.
BenefitNet automatically
Forwards the request to
broker and insurer and
keeps track of it
4
Once the request is
processed by insurer.
System notifies the
broker and HR and
employee. HR personnel
have full visibility to up
to date census and all
ongoing transactions at
any time. Including the
SLAs
Addition of member

7. Value Proposition
BenefitNet is a unique product that helps insurers, insurance brokers and employers administer their employee
benefits schemes for medical, life and other flexible benefits product lines. System effectively automates complex
workflows related to census management, claims management and streamlines the relationship between clients,
brokers, insurance providers and employees.
Manually inputting data into
insurer formats
Manually tracking all
requests via Excel Files
Manually calculating
Member premiums
Manually organising
Member/Policy Details &
Documents
Member information is
automatically inputted
on Insurer Template
format
All requests are
tracked against Insurer
SLA’s in BenefitNet
with real-time reports
available
Member premiums
are automatically
calculated in
BenefitNet as per your
Category set-up
Member and Policy
Details or documents
are easily accessible in
one place in
BenefitNet.
Improved
Customer
Satisfactions

8. Value Proposition
Improved Efficiency
Use of automated solution significantly increases
claim and other administration processes and
leads to higher client satisfaction and cost
savings for insures, broker and TPAs.
Member Self-Service
By leveraging self service capabilities, clients can
simplify collection and ongoing management of
key employee data, claims and dependent
information
Analytics and Reports
Information typically presented to you once
every 3-6 months such as claims, census,
member demographics and administration
efficiency analytics is now accessible on a daily
basis.
System Integration
By using our state-of-the-art data exchange
gateway, BenefitNet is capable of interfacing with
other systems including client’s HR applications or
insurer core systems.
Multi x
BenefitNet can be rolled out for your clients or your
organization across multiple countries, multiple
currencies or multiple languages.
Improved Satisfaction
Our system allows member, insurers and brokers to
effectively and proactively communicate amongst
themselves which leads to improved satisfaction
level.

9. Value Proposition
Modern Web Based Platform
Our solution is built using latest state of the art
technology and is accessible from anywhere
using any standard browser or mobile device.
Medical Providers
We keep information about medical facilities and
providers up to date and allow members to easily
find the best treatment facility within their direct
settlement network.
Multiple Policy Types
BenefitNet allows administration of multiple risk
categories for each client such as medical, life and
disability including flexible benefits schemes.
Flexible Benefits
Solution can administer voluntary enrollment by
members to different risk categories such as travel,
house and other products.
Total Rewards Statement
Employees can get an immediate view of their total
compensation highlighting additional benefits
beyond just base pay.

10. BenefitNet Solution
Census Management Claims Analytics ClientMember
Detailed Feature Set
• Member Profile + Data
• Workflows + SLAs
• Additions
• Deletions
• Modifications
• Change Subgroup
• Replacement Cards
• CoC
• Dynamic Fields
• Dynamic Business Rules
• Advanced Validation
• Automatic Notifications
• Advanced SLA tracking
• Duplicate Recognition
• Advanced Duplicate
management
• Member Data Collection
Automation
• Claims Submission
• Claims Workflow and
Tracking
• Medical Provider
Management
• Network Management
• Bulk Operations
• Simplified Workflow
• Direct Settlement Claims
Benefits Setup
• Client Details
• PolicyCategorySubgroup
• Census Upload Download
• Documents Management
• Complex Products Setup
• Multi Carrier Hierarchy
• ClientCarrier Format data
• Renewal Management
• Client Notes
• Client Tasks
• Renewal and Reminders
• Client Compliance
Automation
• Operational Reports XLS
• Dashboards
• Client Dashboards
• Self Service Reports
• Daily Digest Notifications
• Additional Reporting
• Client Benchmarking
(Industry)
• Self Service
• Claims
• Networks
• Policy Details
• Reports

11. BenefitNet Solution
Current vs New Capabilities
InvoicingPremiums
• Premium Computation
• Invoice Tracking
• Detailed Invoice
Reconciliation
• Invoice Generation
• Invoice Reminders
(ClientInsurer)
• Revenue Forecasting
Broking Features
• Calendar
• Reminders
• Reports
• Client Servicing Reminders
• Client
CommunicationNewsletter
• Complaints
• Lead Capture
• Surveys
• Flexible Benefits
• Upsell and Cross Sell
• Sales Collateral (*)
• Quotation Automation and
Tracking
• Client Onboarding
• Client Reports Automation
Miscellaneous
• Rewards
• Complaints
• Member Communication
• Wellness
• Health Assessment
• HR System Integration
• Cost Containment
• Cost Automation
Technical
• System Integration
• Security
• Data Backups
• Data Validation and Rules
• Improved Performance
• Improved Scalability
Marketing
• Internal
• Client Marketing
• Micro Site
• Seminars
• Digital Transformation
Events
• Promotional Videos
• Lead Generation

12. What some of our Partners say!
‘Teambase and its personnel have helped Holborn Employee Benefits
transform and improve every aspect of our business with the adoption of
BenefitNet since 2018. Client data and information security, Operations
efficiency and Client value proposition are just some of the value adds
BenefitNet has brought our business.’
Richard Broderick,
General Manager – Employee Benefits | Holborn Assets
‘Since working with our excellent longtime partner
Teambase, the original incarnation of the BenefitNet
solution has enabled us to lead the Health & Benefits
broking market with an industry leading solution and the
evolution to BenefitNet 2 which we launched in February
2021 has enabled us to remain at the forefront of our
sector. The flexibility and scalability which BenefitNet
2.0 provides with the continuing support of TeamBase,
has given us the ability to respond to the ever-evolving
regulatory environment across the region as well as
maintain a leading edge in the rapidly developing
competitive landscape that we operate in.’
Carol D’Souza
General Manager, Health & Benefits
Al Futtaim Willis Co. LLC
‘Our partner Teambase has developed, deployed and supported Lifecare
International with the adoption of the BenefitNet solution, a digital journey that
was started over 4 years ago. Through the continuous development and
investment of dedicated resources behind the project, the system has enabled
Lifecare to digitally transform our operations as it allows our team to centralize,
streamline and automate our back-office processes in what has been an evolving
health and employee benefits environment across the region.’
Karim Ladha,
Head of Operational Excellence,
Lifecare International Brokers

13. What some of our Partners say!
Our digital partner Teambase has provided and supported
Seven Insurance Brokers with the adoption of their
BenefitNet solution.
Since launching BenefitNet in June 2021, the system has
enabled Seven to digitally transform our operations and
automate our back-office processes. I have seen time
savings of 50% using BenefitNet compared to our older
manual approach which is significant for our business.
Stephen MacLaren,
Director Corporate Solutions,
Seven Insurance Brokers.
The Solutions in which we have adopted as a business with our
partner Teambase, has made our operations teams more effective
by automation of manual tasks that had been causing a strain on
our TATs with our Clients.
We have found that since starting our digital transformation
journey with Teambase, operationally we are handling much
more clients with same staff levels.
Teambase truly is an innovator and a trusted partner.
Alan Westhead,
Health & Benefits Leader,
Central & Eastern Europe, Middle East & Africa,
Willis Towers Watson.