Client background
Leading MGA in USA distributing various programs and product lines specialized in bloodstock insurance
The challenge
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These programs need to be launched quickly and respond quickly to market trends and demands but online systems do not have any robust agnostic product building / program building capabilities along with product testing and development management so that launch is quick and efficient.
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Specialized products are complex to configure and need a sophisticated system to support it. Neither is readily available and achievable with most options on the market.
The solution
CoverGo used its revolutionary no code product builder to set up one of the insurer’s complex products in a visual manner, using it as a template with important parts such as:
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Underwriting rules
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Pricing rules
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Benefits and limits
Each rule can be tested through the in-built product tester and configured to its best versioning before release or before offering to a client. The product is then given to the MGA for handling and configuring and given the proposal module so they can handle the full sales + customization process.
Business impact
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Enabled a digital way of managing programs and complex products, giving agency to the MGA to be able to reduce time and cost in product management and updating
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Administrative costs reduced significantly by automating all sales related business flows
