Qatar Insurance Group’s Post

🚀 The New Motor Insurance Database API: Are You Ready to Integrate?🚀 In January 2020, the National Insurance Commission (NIC) of Ghana revolutionized the motor insurance sector with the introduction of the Motor Insurance Database (MID) API. This groundbreaking move aimed to eliminate the issuance of fake insurance stickers and streamline the tracking of auto insurance policies across the nation. Since its launch, the MID API has been a catalyst for innovation, leading to the development of cutting-edge solutions like Esi Donewell and Araba Hollard—chatbots that can issue instant auto insurance stickers by directly interfacing with the regulator's database. Now, the NIC is set to elevate this experience further. Here’s how the new MID API can benefit your organization and what updates to expect: 🔍 Ability to Track Endorsements Gone are the days of manual tracking! The new MID API allows insurers to seamlessly monitor and manage policy endorsements. This feature ensures that every change or update to a policy is logged and traceable, enhancing transparency and reducing the risk of fraud. 🏷️ Sticker Accountability For the first time, insurers can track how stickers are issued on the platform. Previously, insurers could not account for how stickers were depleted once purchased. Now, with the new tracking capabilities, every sticker issued can be monitored, ensuring accountability and reducing misuse. ✅ Customer Verification with Ghana Card Customer verification is about to become more robust and secure. The upcoming endpoint will allow insurers to verify customer data using the Ghana Card, ensuring that the information provided is accurate and valid. This will not only streamline the verification process but also build trust and confidence among customers. 💻 New Interface Based on React User experience is at the forefront of the new MID API with a sleek, modern interface built on React. This update promises a more intuitive and responsive experience for insurers and developers alike, making integration smoother and more efficient. The future of motor insurance in Ghana is bright, thanks to the continuous improvements in the MID API. Insurers now have the tools to enhance their services, improve accountability, and offer more secure and innovative solutions to their customers. Are you ready to integrate and be part of this exciting journey? #Insurance #InsurTech #MIDAPI #Innovation #Ghana #React

Insurance offers a vital safety net, especially in times of uncertainty, protecting our assets and well-being. As our world becomes more digital, the demand for online, accessible insurance solutions is growing—particularly in health and auto coverage. This week’s Founder Friday shines a spotlight on Acko, founded by Varun Dua, who set out to revolutionize insurance in India by making it digital-first. 🌟 Established in 2016, Acko embarked on a journey to transform the traditional insurance sector through technology-driven solutions tailored to the digital era. Varun Dua utilized his extensive experience in the insurance industry to develop a platform that offers intuitive, affordable, and reliable insurance products directly to consumers. 📱 Acko harnesses the power of data analytics and machine learning to provide personalized insurance policies, making the process of purchasing and claiming insurance fast, smooth, and transparent. The platform's innovative approach includes features like instant claim settlements, minimal paperwork, and user-centric customer service. 📈 With a strong focus on car and bike insurance, Acko has expanded its offerings to include health and travel insurance, catering to a broad demographic. Their strategic partnerships with major e-commerce giants and fintech platforms have further amplified their reach and impact. 🌍 As Acko continues to grow, it has successfully served millions of customers, making it one of the fastest-growing insurtech startups in India. Their pioneering efforts have not only garnered significant customer trust but have also placed them at the forefront of the insurtech revolution Learn how Acko is leading the charge in digitizing India’s insurance sector: www.acko.com #FounderFridays

Accelerating policy issuance with self-service insurance kiosks In today’s fast-paced world, customers expect convenience, efficiency, and speed—especially when it comes to managing insurance policies. This is where self-service insurance kiosks come into play, reshaping the way insurance providers issue policies and support their clients. Self-service kiosks empower customers to complete the policy issuance process independently, from entering personal information to selecting coverage options and even making initial payments. Gone are the days of waiting for paperwork processing or scheduling in-office appointments! By simply interacting with an intuitive kiosk interface, clients can receive their policy details and get insured in a matter of minutes. Insurance companies benefit as well. With automated data entry and document scanning, kiosks reduce administrative workloads, eliminate errors, and streamline record-keeping, allowing staff to focus on more complex customer needs. Not only does this boost operational efficiency, but it also enhances the customer experience, building trust and loyalty by offering a seamless, fast, and convenient policy issuance process. Self-service insurance kiosks are a win-win solution, aligning with the industry's push toward digital transformation and customer-first service models. As kiosks become more widespread, they’re set to redefine how people interact with insurance providers—making policy issuance faster, easier, and more accessible than ever. To know more about insurance kiosk solutions, please visit our Panashi website page: https://lnkd.in/g8CHWY3c . . . . . . . . #SelfServiceInsurance #PolicyIssuance #InsuranceKiosks #AcceleratingPolicy #DigitalInsurance #EfficientInsurance #ConvenientInsurance #InnovativeTechnology #StreamlinedProcess #AutomatedInsurance #FasterPolicyIssuance #CustomerExperience #InsurTech #DigitalTransformation #SelfServiceSolutions #InsuranceIndustry #TechInnovation #ConvenientSolutions #EfficientProcesses #CustomerConvenience #kiosk #kioskmachine #selfservicekiosks #uae #dubai #saudiarabia #qatar #oman #bahrain #africa

Reducing Operational Costs in Insurance with Self-Service Kiosks

Daily research from FinTech Global Aggregate UK insurance app downloads increase 41% in 2023 YoY Combined UK insurance app downloads totalled at 21.7m as of Jan 1st 2024, a 41% increase from the start of 2023. Combined downloads in 2023 reached 6.3m. Marshmallow Insurance had the most growth in 2023 at 91% from the previous year with downloads during the year reaching 197k pushing their total downloads to 413k. This was followed by Veygo in second with 90% growth and 167k over the same period with a total reaching 351k downloads. Third was Dayinsure with 73% growth in 2023 and 173k downloads increasing their total to 406k. Hastings Direct is the most downloaded insurance app in the UK as of 1st Jan 2024 with a total of 3.5m downloads. Hastings direct saw a 38% growth in app downloads during 2023 compared to the previous year. Hastings Direct’s app offers easy access to your policies, payments and documents with options to change or update a car policy in a few simple steps. You can also start or track a car claim without the need to call. InsurTechs outpaced their incumbent counterparts in 2023 with total combined InsurTech downloads reaching 3.3m in 2023 compared to just 3m downloads for incumbents. InsurTechs also saw higher average growth in 2023 YoY at 53% compared to 35% from incumbents. Incumbents still remain the most downloaded providers overall with combined downloads at 11.4m compared 10.4m for InsurTechs. Vitality Aviva Cuvva Post Office Ltd Admiral Group Plc Hastings Direct Dayinsure Zego Rooster Insurance

Daily research from FinTech Global Aggregate UK insurance app downloads increase 41% in 2023 YoY Combined UK insurance app downloads totalled at 21.7m as of Jan 1st 2024, a 41% increase from the start of 2023. Combined downloads in 2023 reached 6.3m.   Marshmallow Insurance had the most growth in 2023 at 91% from the previous year with downloads during the year reaching 197k pushing their total downloads to 413k. This was followed by Veygo in second with 90% growth and 167k over the same period with a total reaching 351k downloads. Third was Dayinsure with 73% growth in 2023 and 173k downloads increasing their total to 406k. Hastings Direct is the most downloaded insurance app in the UK as of 1st Jan 2024 with a total of 3.5m downloads. Hastings direct saw a 38% growth in app downloads during 2023 compared to the previous year. Hastings Direct’s app offers easy access to your policies, payments and documents with options to change or update a car policy in a few simple steps. You can also start or track a car claim without the need to call. InsurTechs outpaced their incumbent counterparts in 2023 with total combined InsurTech downloads reaching 3.3m in 2023 compared to just 3m downloads for incumbents. InsurTechs also saw higher average growth in 2023 YoY at 53% compared to 35% from incumbents. Incumbents still remain the most downloaded providers overall with combined downloads at 11.4m compared 10.4m for InsurTechs. Cuvva Holiday Extras Aviva Admiral Group Plc Zego Vitality Rooster Insurance By Miles

HDFC ERGO General Insurance, a top private sector general insurer in India, has incorporated AI-enabled inspection technology into its WhatsApp chatbot! Now, customers can instantly settle motor insurance claims for minor damages like dents and scratches, for amounts up to Rs 20,000. The company's digital-first approach and commitment to using technology to provide hassle-free, AI-enabled bots for exceptional customer service is truly groundbreaking. The collaboration with WhatsApp for simplified vehicle self-inspections allows customers to renew lapsed policies without needing to download the app, and the WhatsApp bot 'MyRA' offers a plethora of services to customers in 12 languages. This breakthrough innovation not only provides convenience to customers but also saves them from the hassle of keeping their vehicles non-operational at workshops for minor damages. This is just the beginning of exciting innovations in the motor insurance sector, and it's definitely something to look forward to! For more information on initiating claim processing on WhatsApp, check out this article. Shoreline Asia has also used WhatsApp-based Chatbot-driven technology to increase the ease-of-accessibility of insurance across greater geographies and demographies. Capable of selling, servicing and managing claims for Auto', PA, Travel and Basic Life using Guaranteed Issue of Simplified Issue written products, the expansion of market opportunities is enormous and cost-effective. And, the consumer doesn't need to download another insurance or banking App. It's all done via their preferred social media platform...WhatsApp, LINE, Messenger, etc. #Whatsapp #Insurance #MotorInsurance#WhatsAppInsurance#Shorelineasiaconsulting

Roojai Group Acquires Lifepal, Cementing Leadership in the Indonesian Insurance Market The companies' expertise will be complementary and aim to increase their overall market share. Roojai Group has acquired Lifepal, the leading online insurance product aggregator in Indonesia, recognized for its exceptional online distribution capability with 2 million users per month. In the past year, Lifepal has been looking for a hands-on new investor with deep insurance knowledge, and have found the perfect match with Roojai. The acquisition marks a synergy of strengths: while Lifepal will provide access to the largest online distribution channel in the country, Roojai will improve the company's performance thanks to its proprietary pricing, underwriting technology, and overall excellent customer experience. Both companies will work on expanding their product offerings and online and offline distribution, ensuring a comprehensive and customer-centric approach to insurance services. Roojai’s track record in Thailand, where it ranks #3 as the “top of mind” car insurance brand and #1 in customer experience, sets the stage for similar success in Indonesia. Lifepal customers stand to benefit significantly from access to Roojai's competitive pricing and superior customer experience, mirroring the success it has achieved in Thailand.  Meanwhile, Lifepal’s insurance partners will benefit from Roojai's expertise in the digital transformation of insurance processes, such as car inspection, claim support and portfolio sustainability strategies. Importantly, Lifepal's operations will remain independent from Roojai Indonesia, with Lifepal continuing to deliver online comparison services for car and health insurance. Both Roojai Group and Lifepal are excited about the future, aiming to continuously innovate to offer the best customer-centered insurance services in Indonesia and elsewhere in the region. #Roojai #Insurance #Insurtech

CamCom announces strategic partnership with ERGO Insurance Thailand, one of Thailand's top ten insurance companies, strengthened by over 70 years of experience in the property and casualty insurance market. This partnership will provide an innovative insurance solution for ERGO Thailand, which will mark the great milestone of being one of the top insurance companies in Thailand to launch an AI-powered platform for the car visual inspection process. “The partnership with ERGO Thailand is a huge step for CamCom. It marks the start of a phenomenal digital journey that is set to revolutionise the insurance industry in Thailand. At all times, our focus will remain on how to stay relevant to the emerging needs of ERGO Thailand’s customers, and this innovation process showcases our shared commitment to the cause”, said Mahesh Subramanian, Co-founder, and Chief Operating Officer of CamCom. The partnership is set to revolutionise the insurance landscape in Thailand by harnessing CamCom’s AI-powered insurance platform to streamline car damage assessment through an advanced visual inspection process. This results in enhanced speed, accuracy, and transparency in risk assessments for policy underwriting and claims evaluation. Read the full story: https://bit.ly/3T2tj6J #techvision #partnership #AI #DigitalTransformation #InsurTech #motorinsurance Dr. Till Böhmer, Matthias Veith, Chawinthorn Lertsirimongkolchai, Sirin Atthabodeekul, Ajith Nayar, Umesh -, Geetha S. Vinay Piparsania, Ravinder (Ravi) Singh, Nihar Patel

How to Create an Insurance App Modern insurance companies are increasin... #Expertise #MobileDevelopment #prodsenslive #Software https://lnkd.in/dpgJV9HQ https://lnkd.in/dhu_ekVG