Open Finance Community Insurtech challenge: Coverzen

What business problem do you solve? Why is it important to your clients? 

Fragmented and not up-to-date tools resulting in a decrease in customer service; labor intensive operations and back-office (time consuming, expensive); and product-centric market business sustainability under attack.

Can you briefly describe your product or solution and in which countries do you operate?

It’s a one-stop-shop to enable new selling experiences (such as hyper-proximity and phygital selling), with process automation and quality assurance for insurance carriers. We operate in Italy.

What is your core value proposition? What are the unique features you offer to your customers? 

We enable them to put clients at the top of their priority list, forgetting about back-office and regulation.

Providing that your solution has already been implemented in financial institutions, which companies have already adopted this solution?

Linear (Unipol Group), Genertel and EuropAssistance (Generali Group), Prima.it, MetLife, AfiEsca, Admiral, Mapfre, Quixa (AXA Group), and NetInsurance.

Can you describe in a few words one of these collaborations (What was the objective? What were the main challenges? What results did your client obtain thanks to the implementation of your solution?)

The objective is to sell the products in a digital way through the platform, multiplying business opportunities. The main challenge is the IT integration.

What is your business model and how easy is it to duplicate to additional geographies? 

PaaS, the operating model, has some differences based on the country but can be duplicated.

Where do you see your fintech company in five years? What impact or difference are you trying to achieve for financial institutions in your portfolio?

We expect to be active in the major European markets with over €100 million GWP on the major insurance lines.