In today’s day and age, Insurers are constantly trying to get to market faster and deploy products that consumers can buy digitally. Although with the current technological landscape, launching products on digital channels is expensive, tedious and highly reliant on the IT team. Insurance companies often find it demanding to transform their business digitally, with them often running into the following problems. 

High Customer Acquisition Costs 

Controlling all business entities, while ensuring transparency, control and speed from a central system is paramount, although, insurers often struggle with the complexity and diversity of the same.

Slow Product Building and Speed to market 

According to research by PWC, creating and testing a new Insurance product takes six to nine months and costs up to 400k-900k USD.

Rigid Legacy Systems 

Insurance companies primary challenge today is not product formation, but to cope with the disruptive digital world, as their rigid legacy technology and inflexible architecture holds them back often making it unable to launch products faster.

An overall expensive process 

Insurance business is now a giant ecosystem with brokers, direct sales, partners, online channels, point of sales, retail chains, portals, aggregators, web sites, mobile apps – making the whole process expensive and cumbersome.

Our Solution 

Introducing an innovative, modular, low-code Insurance Product Manager: Tailor. InfoAxon’s Tailor is the most practical and innovative low-code Insurance Product Manager powered by flexible control panel and dozens of APIs enabling insurance companies to transform their business digitally in a scalable, maintainable and cost-effective way. Our Product Manager allows Insurers to:

• Build and Launch Products Faster

  Tailor helps Insurance Companies save 99% of development time and cost as we specialise in making technology a non issue allowing you to go to market in days rather than months.

• Integration with legacy or third party systems

  Tailor allows you to overcome the challenge of rigidity of legacy systems using Tailor customisable APIs.

• Enable omni - channel distributions

  Through Tailor, insurers are able to increase profit and business growth by quickly reaching out to new customers through different channels and sources.

• Seamless Digital Experience

  Insurers are able to achieve major cost saving by reducing the overhead of managing digital experience across multiple routes and partners