Overview

Pet Insurance is a highly contextualized FintechOS solution aimed at helping insurers to accelerate the deployment of a fully digital quote and buy process for customers seeking to get insurance for their pets - cats and dogs, from their phone.

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. More details about the available customizations can be found in the Product Configurations and Solution Configurations pages.

The cornerstone feature of this accelerator is the Pet Insurance Mobile Journey which has the following properties: end-to-end digital experience, fully automated, self-service, white-labelled, created around the needs of pet owners. For more details, see the Journey Walkthrough page.

In a nutshell, the Pet Insurance accelerator package includes:

  • A generic product configured for the Pet Insurance business, containing 3 modules - Bronze, Gold, and Platinum. When necessary, the product can be further adjusted by using the Insurance Product Factory toolkit. Once activated, insurers can exhibit the product to potential customers, through mobile channels.

  • A collection of formulas and data sets for running pet rating and pricing formulas. They can be modified by using FintechOS Business Formulas , in order to accommodate new business needs relative to pet rating, risk assessment, pricing rules, and more.

  • A mobile-ready Minimum Viable Customer Journey (MVCJ) that enables pet owners to get an insurance quote for their pets, cats or dogs. 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. ​

  • A user interface kit comprised of 27 screens that can be used as a template to further customize the journey's look, in accordance to the insurer’s business needs. For more details about the screens and on-screen assets, you can start from the Customer Journey walkthrough page and consult the pages dedicated to each journey step.

  • A Data Model, extended from the Northstar Insurance Common Data Model.

  • A Digital Frontend configured for unauthenticated mobile users.

IMPORTANT!  
For the complete list of items included in this package, as well as all the embedded FintechOS automation blocks fulfilling the Pet Insurance business vertical, go to the Accelerator Layout page.

FintechOS clients use the Pet Insurance solution to respond to different challenges related to:

  • reducing the cost of customer acquisition;

  • reducing the sales cycles;

  • coming up with products that can be offered through digital distribution channels;

  • creating personalized relevant insurance quotes;

  • time-consuming business routines, more prone to human error when done manually - such as registering a new customer, registering a payment method on behalf of the customer, or contract writing;

  • last but not least, creating a positive effortless experience for customers seeking insurance for their pets.

The Pet Insurance solution helps solve these pain points by packing together different FintechOS capabilities and gearing them towards creating a fully digital and fast way for pet owners to get insurance for their pet.

The solution has the following key features:

  • registering and storing personal and contract details;
  • automatic scoring and underwriting for all the pets;

  • automatic premium pricing for all the qualifying pets;

  • automatic creation of personalized insurance documents;

  • multiple integrations with other FintechOS solutions. For details, consult the Accelerator Layout page.

The benefits of using this Accelerator for the Pet Insurance business vertical are the following:

  • speeds up the implementation of a mobile-ready quote and buy journey for pet owners;

  • speeds up the deployment of digital insurance products for the Pet Insurance niche;

  • scales from many to a myriad of users without diminishing the customer experience excellence;

  • can be further enhanced via Innovation Studio to fit new requirements for the Pet Insurance business vertical;

  • frees up time for where attention is really needed: selling more insurance!

HINT  
The Pet Insurance Accelerator is freely available and can be downloaded from the FintechOS Marketplace.