
Loro
Overview
Loro is a Digital Insurance Platform providing Policy Administration and MultiLayer Distribution Loro designed for MGAs, Insurers and Brokers focused at speciality insurance.
It enables insurance products to be launched globally and digitally, across complex multilayered distribution channels within weeks. It provides unmatched speed and flexibility for MGAs, insurance portfolios, and brokers, while making sure that underwriters remain in control. Loro’s unique capability is its automation of the complex security measures for digital insurance distribution across multi-layered broker networks. This enables clients to securely distribute products end-to-end without the administrative burden of other solutions, allowing for faster innovation and distribution.
Loro's core technology is a cloud-based SaaS platform hosted on Google. The core functions it enables are:
- Easy configuration of everything an insurance product needs (Questions, Rating and Documentation).
- Simple point and click interface to easily manage and add distribution partners and sub partners to create the network of distribution out to the customer.
- Automatic generation of multi-layer distribution network of portals and broker specific underwriting workbenches to enable digital distribution of the products across the network.
- Full Policy Admininstration functions for the full policy life cycle to allow underwriter full control of their products.
Our commercial model is also very different. In order to enable all sizes of companies, from startup MGAs to large insurers, to be able to benefit from the Loro platform, we have a created a commercial model where there are almost no barriers to getting started with Loro.
- We have totally transparent pricing shown publicly on our website Loro.io
- There is no upfront license cost
- No long term commitment (unless the client prefers or requires longer term license contracts)
- The first $100k of bound premium each year is free.
- From $100k - $25M of bound premium we charge 1%.
- Onboarding/configuration fees are between $5k-10k some is 80-90% lower than other providers, enabled by the ease through which Loro is configured and the automatic generation of multilayered distribution networks and portals.
After the initial onboarding clients are able to self service themselves, managing their current products, creating new products and adding distribution partners.
Alternitively they can choose to have Loro manage changes and additions through our support packages which start at $400 per month.