KASKO is an insurance technology platform that allows insurers to respond to changing customer demand and evolving consumer behaviour. Consumer behabviour and business models across all industires are changing and with this risks are changing. Insurers need to addapt to these new types of risks and consumer demands. Using traditional in-house means or external agencies is a slow and expensive and therefore too inflexible to address evolving customer needs where both speed and flexiblity to test and adjust are crutial. Additionally, while there a host of new InsurTech solutions out there looking to partner with and to help insurer, their legacy IT systems often make it hard, slow and expensive to test these out. KASKO's platform allows insurers to overcome these challanges.
KASKO has already launched over 100 products with 20 insurers acorss 6 countries in ca. 18 months. Our current clients include: Allianz Worldwide Partners, ARAG, Baloise, Barmenia, R+V Versicherung, Allianz, FRI:DAY, AM Trust Financial, AXA Travel Insurance, Swiss RE and Roland, GAV, Obvi and Zurich
KASKO's platform is a cloud-based solution built on AWS micro-services architecture. It can take care of all key parts of the customer purchase journey from data collection, pricing and payment to document distribution and policy handling. The output is an open API and/or ready iframe / web-widget that easily installed into any digital channel. This iframe can be ready in a matter of days or weeks rather than months or years and only takes a couple of hours to install within any digital channel. Importantly, this can be achieved without distracting insurer IT resources from critical projects.
KASKO's platform is designed as flexible micro-services that can be quickly set up, upgraded and replace without having to change the entire platform. This, in turn, minimses the cost of creating new products (e.g. data, services, user interfaces) thus enabling innovative trial and error.
Where we shine is our speed, flexibility, openness and value-for-money. We are faster, more flexible, more open and also cheaper than other InsurTechs, software vendors or IT-consultancies.
1. Speed: The normal go-to-market for new insurance products takes 6-24 months, ours takes 2-4 weeks
2. Flexibility: This has two facets:
A) Instead of trying to create one central product system and logic we have created a loose framework of microservices that allows us to create tailored insurance products. Where others talk about having dozens of insurance engines we are talking about hundreds or thousands.
B) Most other providers try to either replace the front-end or the back-end of not provide a front-end etc. We appreciated tht each situation is different. Whilst we will never try to replace the back-end policy system our value chain is organsied in mciro-services so that the insurer can choose on a case by case basis which of our core funcitons (front-end, quote, bind, issue, pay, manage etc.) is required.
3. Openness: Our open platform allows us to integrate any third party service, thus ensuring that we can always deliver best-in-class services.
4. Value-for-money: Depanding on product complexity a new insurance product with similar functionality costs between £300-£1m to imprement. Our product costs between £10-50k p.a.