Inspire Insurtech Interviews: ClaimSpace

February 3rd, 2020 Posted by Members, News 0 thoughts on “Inspire Insurtech Interviews: ClaimSpace”

The Inspire Insurtech Interview’ series are interviews to inspire your fellow insurtechs. We’d like to share who you are, what you do, what we can expect from you in the future. This month we are talking we talk to Gilberto from ClaimSpace. Enjoy!

Tell us ClaimSpace’s brief pitch
ClaimSpace is a communication and collaboration platform helping financial service providers to streamline and improve complex dispute resolution processes. The web-based engagement tool creates simple and transparent experiences for consumers while generating cost efficiencies, new data and insights for enterprises.

So how did ClaimSpace begin?
My Co-Founder & Head of Product Gilberto Spencer was a medical and disability claims manager. He has used many tools and solutions for claims management but found that he still struggled to engage digitally with claimants and other stakeholders throughout complex claims such as disability, critical illness and trauma. Customers just want to know where their claim is at and what they can do to contribute to it’s resolution. So he and our CTO Alfonso Marquez built the first version of the ClaimSpace and we have grown from there.

How has ClaimSpace evolved since inception?
When we began we thought that this would be a solution just for insurers and more specifically for recurring claims processes like disability and income protection. Since then we have learned that actually there are many areas of insurance and financial services that still struggle to collaborate digitally with customers and external stakeholders. We are now focused on helping insurers and banks on dispute resolution whether that is a claim, complaint and in some cases, complex applications.

What is your team currently working on 2019 or what have you accomplished recently?
We spent most of this year in the US taking part in a few insurtech programs like Plug & Play and the Hartford Insurtech Hub. We have learned a tremendous amount about our current and future value proposition and in the process have been able to work with clients from around the world. As a result we have become a remote first team with people in different countries. Soon we will close our seed round and will kick off some new pilots here in Australia and overseas in the next few months. The next 12 months will also see us focus heavily on how we can harness all the data we are collecting to deliver better operational improvements to our clients and their customers.

How does ClaimSpace ‘give back’?
As a team, we believe strongly that insurance customers should be given as transparent a claims experience as possible, especially in those incredibly difficult moments when making a life, disability or critical illness claim. The changing Australian regulatory landscape means that now is the time to really make some change and our way of giving back to help enable insurers to deliver on the promise they make at point of sale.

What is ClaimSpace’s biggest challenge in today’s markets?
As with any early-stage startup, our biggest challenge is getting our product to a place that it can truly scale. Although we already have customers around the world across life and property insurance, to truly scale you must continuously improve your product with feedback from real customers. Keeping on top of this is our number one priority and number one challenge.

 

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