The Inspire Insurtech Interview series is designed to inspire fellow insurtechs. We’d like to share who they are, what they do, and what we can expect from them in the future.
This month, we talked to Founders Leo Francis and Julie Bedggood of Intellimin. Enjoy!
Tell us the company’s brief pitch.
“Intellimin is a platform that assures insurance businesses that they can meet today’s needs and master tomorrow’s.”
We are a rapidly deployed, cloud-based policy administration platform “in a box”. We get digital insurance businesses up and running in record time and supercharge their growth.
So how did the company begin?
We started Intellimin back in 2006 by bringing together our industry experience and an understanding of what technology can do to make it possible. We saw an opportunity very early on to meet the emerging trend of omni-challenge digital distribution and included this as a fundamental principle in designing for the global insurance market.
How has the company evolved since its inception?
We worked with start-up digital life insurance businesses to both design and configure the products, customer journey, and business processes to enable automated straight-through processing and customer communications. We have applied the same principles to existing life and health insurance businesses, re-engineering business processes for efficiency, converting data from legacy systems, and providing a stable and strong platform for business growth.
By working with a talented team of experts, we’ve successfully evolved Intellimin into the policy administration system we offer today. Our work with a diverse range of clients and strong partnerships with leading businesses has given us the opportunity to refine our processes and implementations to meet a variety of business needs and deliver a world-class, secure platform. It is the journey over 16 years that has made Intellimin successful.
How does your Insurtech improve your customer’s experience?
We are able to offer our clients a leading customer experience based on our detailed attention to the application process and streamlined and automated processes meaning a process that took 5 weeks can now take 5 minutes. The flexibility of the system allows businesses to prototype, test and launch new products into the market quickly and easily without the barriers of legacy IT systems.
What is the company’s biggest challenge in today’s markets?
We thrive on partnering with innovative businesses committed to bringing new products to market. This comes with the challenge of meeting the evolving regulatory frameworks for insurance and financial services in different countries around the world.
What is next for your company? What are your big goals for 2022?
This year we are extending the digital platform to support advisers selling more complex life insurance products.
Any advice for other Insurtechs or insurers looking to innovate?
What’s led us to our success is our values, lessons learnt, industry experience, expert team, trusted partnerships and working with businesses that are ready to take the plunge from legacy to digital. We have taken a long-term view with a commitment to growing our client’s businesses.