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FAQ - Insurely

 

How can I start using Insurely’s open insurance solutions?

Contact us here, and we’ll be in touch shortly.

How long does it take to get started?

It depends on which products you want to use, but the implementation can generally take one week up to 3 months.

Are there others who use Insurely that I can read about?

If you’re curious about some of our clients’ thoughts on using Insurely’s products, read more in our success cases.

How do Insurely’s products work best - individually or all together?

Our products can be used either together or separately, depending on your objective. 

How do insurance companies benefit from using Insurely?

Our core idea is to create better conditions for all parties in the insurance industry. Open insurance makes it possible for the insurance industry to follow along on all the benefits digital transformation and open data offer. It allows you to offer frictionless customer experiences, provide smooth transition journeys, and meet customer expectations.

Insurance companies can use available data to show the customers why they should choose them over their current insurance provider or stick with them as they have a better offer than other insurance providers. Open data can be used to build a comprehensive customer profile and better tailor the insurance offer. It makes it easier for the customer to get an overview of the coverage they may need or unnecessary insurance they have, increasing customer confidence and boosting customer loyalty.

Want to know more? Visit: https://www.insurely.com/industry/insurance

How do banks benefit from using Insurely?

Open insurance enables consumers to access and share more of their data with third parties. For banks, this creates an opportunity to build services that include a bigger share of clients’ financial management by introducing insurance management in the online banking app. This increases the time spent in the app, as well as the level of customer engagement. It’s a great way for banks to further capitalize on open data.

At Insurely, we believe that trust is one of the most critical assets a bank has. Consumers often turn to banks for advice and stay loyal thanks to this inherent trust. Using Insurely’s services enables banks to advise their clients based on data that was previously inaccessible. More relevant data leads to better advice and more customized offerings, which, in turn, further drives customer loyalty and engagement.

Want to know more? Visit: https://www.insurely.com/industry/banking-and-personal-finance 

There are no regulations yet - how is the data handled in a secure way?

We always have IT and data security at the top of all development and continuous work. We follow best practices for security, following the principles of least privilege for all data access. Only the people with a need for the data have access to it.

The data is stored in servers that are not available directly on the internet and needs to go through multiple authentication steps to be accessed. All sensitive data is deleted from Insurely’s servers as soon as possible, using an idempotent process to ensure that any problems in the deletion process will not cause the data to remain.

Trust is everything, in the insurance business as well as in other successful businesses. If you lose that trust, you’re not going to survive long in the world of open data. GDPR and data protection are very important, and Insurely is always careful in protecting consumer data. 

Is there a cost associated with using the service?

We use a SaaS model for our products relating to data aggregation: Insurance Manager, Insurance Switcher, and Sales Support Tool. This means companies can subscribe to our solutions and make monthly payments on an ongoing basis. For our Checkout product, the pricing model contains a revenue share as well. 

SaaS stands for Software as a Service and is a pricing model based on subscription. For using our products, the payment is made monthly on an ongoing basis.