Automation of Change of Ownership Qorus-NTT DATA Innovation in Insurance Awards 2026

Concept and objcetives

LEA has implemented a purely digital and automated quoting concept designed to reduce the time required for a real estate agent to obtain a binding insurance quote for change of ownership to ~ten seconds. The objective is to remove friction from the customer journey, ensure instant price certainty at the point of decision, and enable seamless integration of insurance into the house purchase process solely using AI and machines.

Reasons

Traditional insurance onboarding is often slow, document-heavy, and poorly aligned with the pace of modern digital transactions. In the house buying market, decisions are time-sensitive, and delays increase drop-off rates. The ten-second quoting concept addresses this by prioritising simplicity, automation, and real-time decisioning while remaining compliant with regulatory requirements.

Competitors

Most competing solutions in the change of ownership market rely on manual steps, or delayed underwriting decisions. This creates friction and uncertainty for customers and real estate agents. LEAs approach differentiates itself through real-time eligibility assessment and instant quote delivery.

Inspiration

The concept draws inspiration from best-in-class digital experiences in fintech, payments, and mobility services, where instant approval and pricing are standard.

Departments

The initiative is cross-functional, involving Product, Underwriting, IT, Data, Compliance, Legal, and Distribution.

Results

Early results show significantly reduced time to market, faster partner onboarding, improved customer satisfaction, and strong conversion rates, while maintaining underwriting discipline and regulatory compliance.