apidays LIVE LONDON - Insurance APIs at Baloise by Ivan Baraba
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apidays LIVE LONDON - The Road to Embedded Finance, Banking and Insurance with APIs Insurance APIs at Baloise Ivan Baraba, Baloise Group
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apidays LIVE LONDON - Insurance APIs at Baloise by Ivan Baraba
- 2. “Insurance is never bought, it’s sold,”
- 4. Baloise helps Volvo customers focus on what’s important.
- 5. Meet Mobly
- 9. ? ? ? ?
Editor's Notes
- Introduction who we are personally Ivan first Jens then
- Ivan: Imagine a world where insurance could sell itself Become a product people want A product seen as adding value to the customer experience Examples: Extended warranty, situational insurance like travel etc
- Ivan: This image invokes positive emotion. Freedom, adventure, passion It doesn’t remind you to buy insurance
- Ivan: Either does image…….except that you will Jens: Yes exactly. When you buy a car, insurance is compulsory. As a car dealership organization, Volvo and Baloise created a cross-industry cooperation to offer an insurance instantly when buying a car. Optimal & efficient customer experience. => Car dealership that sells insurance, actual branded documents, instant proposal when buying a car. Think about what this could become in the future… (integrated data/documents, real-time claims, …) Ivan: Ivan then asked “how about start ups and market disrupters?”
- Jens: Mobly = typical disruptor in the Belgian market: combining different industries, markets and all things related to mobility. Focus = platform for end customers as ‘peace of mind’ History: Started as a start-up focused on car advice (full cost of ownership) + insurance on 2nd hand market. Expanded to selling km-based insurance, integrating a dongle into the car itself. Currently becoming more and more digital, integrating with all sorts of partners and car apps etc. Talks about the company for a minute or 2 (perhaps some history)
- Jens: Current Mobly ecosystem is focused on all types of mobility, including bikes, public transport, steps, navigation, claims, … Goal is creating an easy platform with full mobility perspective. Baloise provides all things around New Business insurance in this cooperation via direct online API’s. Currently we’re expanding to full contract and endorsement management. This all relies on the strategy not to compete with disruptors. We provide them the platform and the integration abilities to be able to provide customers the real-time, personalized multi- and cross-channel experiences that they expect these days.
- Ivan: Ivan describes the global ambition for API-afication of insurance. Belgium is a leader in the group Baloise is one of the top 5 insurers in Belgium We focus on broker and partner experience. (one channel or another) So no direct end-customer sales. We have an API platform with around 25 API’s, focused currently on New Business for Non-Life Retail products. It’s a public (secured) platform with a developer portal and thorough onboarding setup. Industries CAR/Automotive: - Amazon (Car dealership) (Volvo, Jaguar, Land Rover, Lexus, Maserati) - Alcomotive (Favor, Hyundai, Isuzu, MG, Ssangyong, Suzuki) Broker Network; OpenBroker and Wegroup are middle layer applications for brokers (tariff comparisons) Marketing/Lead generation: Hybrid Media (public Baloise tariff simulation) Real-estate: Rentio: Renting appartments with insurance Disruptor Mobility: Mobly All of this together results in Baloise doing majority of our sales through 1 channel or another.
- Jens explains what Belgium is doing. Why? Insurance companies don’t have the money, the people, nor the time-to-market capabilities to follow digital trends, hypes, or to create all personalized experiences ourselves. Why try to create all multi- and cross-channel experiences when others have already created it, faster and maybe even better than you. Insurance as a service to move from specific products to a service-based partnership. API-driven partnerships to provide a personalized & branded experience with customer-centric approach. Focus on the core of Insurance: Data management Business process enablement Some examples of partnerships Openbroker (Advisory group) Alcomotive (Favor, Hyundai, Isuzu, MG, Ssangyong, Suzuki) Amazon (Webquoter) (Volvo, Jaguar, Land Rover, Lexus, Maserati) Binex B-Tonic Cegeka Curalia DeeCide Harmoney Hybrid Media (berekenjeautopremie.be) Mobly Seraphin Wegroup Upcoming: - Rentio - Portima - Vanbreda (Info Support)
- Some examples of partnerships Openbroker (Advisory group) Alcomotive (Favor, Hyundai, Isuzu, MG, Ssangyong, Suzuki) Amazon (Webquoter) (Volvo, Jaguar, Land Rover, Lexus, Maserati) Binex B-Tonic Cegeka Curalia DeeCide Harmoney Hybrid Media (berekenjeautopremie.be) Mobly Seraphin Wegroup Upcoming: - Rentio - Portima - Vanbreda (Info Support)