White Label Platform (WLP) solutions allow insurers to harvest the growing parametric insurance market
VALUE PROPOSITION
We enable insurers to efficiently enter the parametric insurance market and offer the new product line to their clients.
The insurer can focus on sales and marketing and does not need to involve significant internal IT resources.
WE OFFER
Digitalized end-to-end processes enabling insurers to serve clients via multiple distribution channels.
Online platform for price calculation, offer creation, policy booking, monitoring, administration, settlement and reporting.
PRODUCTS
We have long-standing experience and can support insurers with all types of index insurance products for parametric climate and Nat Cat perils including but not limited to:
° Drought
° Earthquake
° Flood
° Frost
° Heat
° Hurricane
° Tornado
DATA
We access, process and aggregate the underlying data for the insurance product and make it available to the user on the frontend. CelsiusPro works with data of all major reporting agencies such as the National Hurricane Center (NHC), United States Geological Survey (USGS), National Aeronautics and Space Administration (NASA), European Space Agency (ESA).
INTERFACES
We provide interfaces from and to legacy systems of stakeholders such as insurers, distributors and reinsurers for an easy exchange of data.
API services allow to use parts of the existing core systems without losing access to data relevant for risk and financial reporting.
BENEFITS:
Partnering with us gives insurers a range of benefits:
° Enhance the insurance product range with innovative climate and Nat Cat products
° Front to back fully digitalized processes
° Additional revenue stream from complementary product
° Short time to market at competitive set-up cost
With the CelsiusPro WLP solution insurers and distributors can capture the growing market of parametric insurance products without the need of developing an internal solution that ties up IT resources and costs.
ONLINE PREMIUM CALCULATOR
Online calculation of premium based on pre-defined variables allows an easy and transparent sales process. Offers and policies can be created and sent to the client with one click. The available products, the underlying datasets and pricing methodologies will be delivered on customized frontends.
MOBILE CAPABILITIES
The WLP can be extended to include mobile app solutions to further facilitate distribution.
API solutions allow for a seamless integration in existing mobile apps. Key features include:
° Client Registration
° Premium Calculation
° Policy Booking
° Mobile Money Payment
° Offline Mode
MONITORING AND SETTLEMENT
We automatically track all relevant climate and Nat Cat data, intersecting them with the Insured Locations of client policies and calculate the loss payment amounts.
Furthermore we provide loss settlement notifications for each payout triggered by an eligible event.
OFFER AND POLICY GENERATION
The online purchase process creates automated offer sheets, policies and invoices.
Each policy is stored and reported upon including audit trail for the entire policy lifecycle.
