Technology is Enabling Collaborative Risk Management

Mar 15 / Author: Harold Leitner

Policyholders Should Love Your Insurance Mobile App (Continued)

Insurers are in a challenging market. Claims are increasing, premium growth is limited, and technology investments are needed to remain competitive, to name a few. Many are trying to wring every bit of ROI from their technology investments. Many are maximizing their mobile policyholder app investment by deploying mobile apps that can easily expand for new features and lines-of-business.

Many insurers paint themselves into a technological corner by deploying low feature set applications. If they lack the expertise in-house to update or upgrade the mobile app, they will have to spend a lot for custom work. Or, their mobile apps are tied to specific policy admin systems and cannot be extended for other lines of business.

Extendible Mobile App Architecture

The best mobile apps are built on mobile/web back-end platforms that are designed to be easily extendible. This allows for incremental investment and phased development for additional features or products. For example, a carrier can launch a Minimum Viable Product mobile app with basic features and then add advanced features over time.

Multi-line Mobile App

Insurers are also maximizing their investment by launching mobile apps that support multiple lines-of-business. The best apps should dynamically change the app’s features based on the active policies of the user. Insurers can then provide a consistent and high-quality customer experience. Insurers with these advanced apps can get the most of every investment dollar.

Insurers who are looking to launch or upgrade mobile apps need to do their due diligence. They should understand the limitations of mobile web pages compared with native mobile apps. Also, the app and back-end should be easy to customize and extend for multiple lines of business.

Harold Leitner

VP, Business Development

With over 25 years of technology sales, business development, and account management experience Harold leads Xemplar’s business development team. He has successfully driven business growth for early stage technology providers across a range of industries including e-commerce, finance, IOT, connected fleet technology and telematics. Harold holds an MBA from Northern Illinois University and a degree in International Business from Illinois State University.

SriKrishna “SK” Tirumala

CEO & Co-Founder

Over the last 24+ years, SK has been at the forefront of delivering technology solutions in Property & Casualty. For the last few years, he has been spearheading the development of risk management solutions at Xemplar Insights, LLC. As the head of the business, SK passionately leads R&D and product engineering teams to advance the Xemplar product portfolio. He is continuously associated with customers, prospects and industry partners in solving their chronic business issues with cutting-edge technology.

Xemplar Solutions Suite

XEMPLAR AUTO is a comprehensive mobile, cloud, and web solution that enables personal auto insurers to close gaps in their digital capabilities. Designed to support loss containment strategies using state-of-the-art smartphone telematics, it can also include policy self-service capabilities to drive adoption and lower servicing costs. Insurers get a powerful analytics portal to analyze where, when, and how risk occurs in their book of business. Granular data can be used develop new rating variables for Usage Based Insurance (UBI).

Personal and Commercial P&C policyholders value the ease-of-doing business with their insurers over mobile and web channels. They are attracted to insurers with better digital capabilities for convenience and better service. Insurers understand that building relationships and creating loyalty with policyholders is key to their on-going profitability and success. The Xemplar Engage solution enables insurers to rapidly innovate and advance their digital transformation strategy with self-service features on mobile and web channels, resulting in significant competitive advantages with improved customer experience.

Xemplar Drive – Business was designed as a non-white-labeled option for Commercial Auto Insurers that believe that the policyholders will be apprehensive about using a data gathering solution provided by their insurance carrier. Xemplar Drive – Business would be referred by the insurer to the Commercial Auto policyholders (small businesses to large fleet owners) as a solution for risk prevention and loss control.
Xemplar Drive – Business is also available as a white-labeled off-the-shelf B2C subscription-based solution (SaaS or private) sold directly to Large Corporates, Commercial Businesses, and other Institutions that operate a fleet of vehicles, as a self-administered risk management solution.

Xemplar Drive – Business is a branded off-the-shelf, B2C subscription-based solution sold through distribution channels such as driving schools or not-for-profit organizations to individuals and/or parents of teens as means to analyze driving habits of themselves, or young drivers as they gain driving experience and develop good driving habits.

Xemplar Stack’s suite of licensable and adaptable software feature frameworks, platform architectures, design patterns, and data model assets helps businesses save development time and costs and jumpstart the creation of tailored software solutions for unique business cases.

About Xemplar Insights

Our journey began in early 2015 while experimenting with smartphone technology to analyze motion patterns that led us to develop an innovative and economical smartphone telematics solution for loss containment. We then extended our capabilities to include numerous new features including policy and claim services, and developed turn-key solutions for Personal and Commercial P&C Insurers. Today, Xemplar is an established digital solutions company that offers both pre-configured and tailor-made solutions to insurers and commercial businesses, with many companies using our products and services to drive their digital transformation.