- London-based Insurtech KASKO announces its partnership with the leading Austrian credit insurer ACREDIA Versicherung AG.
- The collaboration brings to market a product recommendation flow and product configurator for new customers navigating the ACREDIA Website.
Insurtech KASKO and ACREDIA Versicherung AG have partnered up to bring a new product recommendation flow and product configurator to market. The whole project, from the moment of development to going live, only took a few weeks. This is the first time that KASKO, providing the fastest and most flexible platform for insurers to scale their product offering, has teamed up with Austria’s leading credit insurer ACREDIA Versicherung AG, which is a subsidiary of Oesterreichische Kontrollbank AG (51%) and Euler Hermes AG (49%).
The new product recommendation flow and product configurator entails a massive decision tree with more than 60 pages, automated Lead Generation and allocation, and offers a recommendation summary for new customers navigating the ACREDIA website and a simple digital application process subsequently. KASKO offered ACREDIA Versicherung AG a quick and transparent price indication, providing a flexible solution with potential for reusability, and enabled the quick realization of the project in an Insurance Distribution Directive (EU) 2016/97 (IDD) and Insurance Distribution Directive (EU) 2016/97 (GDPR) compliant way.
The background for this new smartform is that according to IDD “appropriate and proportionate arrangements are in place … and to consider the demands and needs of the customer before the proposal of the contract”. With the new product recommendation flow, ACREDIA Versicherung AG is the first in Austria to implement this process in a digital way in the B2B market and to provide the customer with a personalised recommendation on the basis of information obtained from the customer. In a second step the customer can start a simple configuration flow by answering some product specific questions. This collaboration is another confirmation of KASKO’s excellence in IDD & GDPR compliance, additionally backed up by KASKO’s newly acquired ISO certification. Adding on to that the speed of the initiative – only taking 10 weeks to bring the product to market – is what makes this partnership unique.
Nikolaus Suehr, CEO and Co-Founder of KASKO, explains: “We are delighted that ACREDIA Versicherung AG decided to partner with us, which is not only an important step in KASKO’s expansion to Austria but also testament to our belief that insurance is beautifully varied and that definitions of “product” as well as front-end and back-end are somewhat fluid. We believe that insurance needs to be viewed through the lens of individual use-cases and tech enablers such as ourselves need to provide various tools and services that can be flexibly configured to empower a customer-centric and scalable rollout.”
Ludwig Mertes, CEO of ACREDIA Versicherung AG adds: “Being Austria’s leading credit insurer we are happy to lead the way in digitalization in our market und provide our customers the best service and protection against default payment. In KASKO we found the perfect match in their customer-oriented and innovative approach. The collaboration with KASKO was excellent and quick. The outcome – our product finder – was successful and will underline the leading role of ACREDIA.”
