Pet Insurance Accelerator Layout

The Northstar Insurance Suite offers the necessary tools to achieve certain goals specific to the insurance industry - such as policy generation, proposal management, managing and processing insurance claims, processing insurance premium payments. Currently, the modules are agnostic to the insurance verticals, meaning that they can be used to create and customize either life and health, as well as property and casualty insurance products, and policies. Plus, with unlimited scalability and no-code extensibility, the NorthstarCommon Data Model is designed for easy integration via data pipes, and is also open through APIs.

The Pet Insurance accelerator is an out-of-the-box FintechOS digital solution that helps insurers to deliver a positive effortless mobile quote and bind experience for customers seeking insurance for their pets. This solution integrates with different components of the Northstar Insurance Suite, while focusing on the Pet Insurance niche. Insurers can use the solution right away, as opposed to starting a Pet Insurance delivery business operation from scratch.

Extended Data Model

The first step in accommodating the Pet Insurance business niche was to extend the NorthstarCommon Data Model.

Consequently, the Pet Insurance solution uses an Add-on Data Model developed specifically for pet quoting, on top of the general Data Model for insurance.

Defining the data model is typically the first step of developing a FintechOS digital solution, as the business logic and the presentation layer of a solution needs data in order to execute. Data models identify what data is needed and how it is organized. They also ensure the quality of data via naming conventions and default values. Data modeling is based on the Entity - Relationship paradigm, which uses the concepts of entity, attribute, and relationship to represent data.

Automation Blocks

Another step was to make use of the available FintechOS Automation Blocks in order to automate the solution, while implementing complex decision modeling for a Pet Insurance business operation.

As a result, the following Automation Blocks are integrated in the Pet Insurance solution:

• Business Formulas - used for pet rating and pricing.

• Computer Vision - used for data collection and validation.

• Digital Documents Processor - used for automatically generating quote documents by merging real-time data.

Personalized Customer Journey

The Pet Insurance solution includes a personalized customer journey that has the following characteristics:

• tailored to the retail individual customer segment.

• identifies the needs of the customer and helps the customer choose the right quote.

• the journey is available in an anonymous environment - the user does not need to authenticate.

• end-to-end digital experience, fully automated, white-labelled.

• mobile - enables pet owners to get pet insurance from their mobile phone.

• unassisted - the users takes all the necessary steps in order for the pet quote to be issued.

• can be modified with Innovation Studio.

The happy path has 20 steps and takes less than 5 minutes. During the journey, a customer record, a quote, a policy and a type of payment (with attached card or direct debit details) are created. ​ For more details about the journey steps, start from the Customer Journey page.

Alignment

The Pet Insurance solution is aligned with the following modules of the Northstar Insurance Suite:

• The Product Factory module - for product design and management.

• The Core Policy Admin module - for the generating the pet quote.

• The Core Insurance Master - for managing major processes and configurations.

Pet Breeds Recognition

The Pet Insurance solution integrates with the FintechOS Siwalu Connector in order to process the pet image and get the result (breed name expected). Siwalu is an AI-based breed recognition engine - capable of identifying both pedigree and mixed breeds. The Siwalu database contains more than 360 dog breeds and 150 cat breeds, and all the breeds officially recognized by the World Canine Organization and the Fédération Internationale Féline are among them. Consult the Pet Breeds page, for a detailed view of the insurable breeds.