Customer Challenges

A top-5 Canadian P&C carrier was looking for a new digital mode of distribution by integrating into digital ecosystems through the establishment of multiple partnerships.

Problem

• Built a Rate-Quote-Bind (RQB) application for a digital MGA to partner and integrate easily with third-party applications such as OEMs (Original Equipment Manufacturer) at the point of sale.
• Leverage OEMs’ telematics data collected from connected vehicles to create a usage-based insurance product.
• Create an engaging digital experience for clients to track driving performance, telematics discounts, and better driving behaviour through a dashboard embedded directly in the OEM’s app.
• Long-term vision of a telematics product fully driven by data such as PAYD (Pay As You Drive) and PHYD (Pay How You Drive), moving away from traditional rating factors.

Solution Highlights

The RQB process flow was built on the Unqork platform, leveraging the UIF (Unqork Insurance Framework) and integrating easily with third-party applications. The project also included the development of the CSR (Customer Service Representative) portal and the Customer Portal. Additionally, it encompassed policy lifecycle management events, such as endorsements and cancellations.

• RQB process integrated with multiple third-party vendors such as InsureMo, Earnix, Okta, TD Bambora, and Salesforce.
• Solution designed to be white-label for partner OEMs that want to sell insurance in partnership with Co-Op.
• CSR portal managed by internal employees to support policy change management.
• Customer portal for external customers to log in and update non-premium-impact changes (e.g., payment method) and download policy documents.
• Roadmap to build headless APIs so partner carriers can use the RQB system as a backend with their own customer-facing systems.

Key Success Metrics