FintechOS, the high-productivity fintech infrastructure (HPFI) global leader, has announced that the FintechOS platform is powering UK insurance provider Admiral’s new digital pet insurance product.
London-headquartered FintechOS is part of the InsurTech Corridor program to forge links and nurture new insurtech solutions between companies in the UK and US.
The FintechOS platform – with its low code/no code ability, cloud native architecture, composable core blocks, and pet insurance Accelerator – enabled Admiral to launch its new product at speed.
“Our focus at Admiral is on providing high-quality, high-value products and services to our customers,” says Pritpal Powar, Admiral’s head of pet. “With the FintechOS platform, we were able to meet our aggressive launch deadline, while also delivering an innovative digital pet insurance solution.”
Admiral and FintechOS first discussed working together in January last year, setting an ambitious target go-live in the latter half of 2022. Working closely together, Admiral went to market with its new pet insurance product in September.
“We founded FintechOS to enable businesses with a truly customer-centric, data-driven approach to financial products and services,” explained Teo Blidarus, CEO and co-founder of FintechOS. “Admiral’s innovation and customer-centricity are impressive. We’re proud to be powering their digital pet insurance product.”
Susan Winkler, vice president and executive director of Connecticut Insurance and Financial Services, said: “FintechOS are a great example of a pioneering UK software scale who are driving innovation in insurance and they are exactly the kind of innovative UK venture up that the InsurTech Corridor was launched to support. Admiral has adopted this innovative technology to improve their insurance product, and we’re excited to explore the opportunities for US insurers to work with them too.
Transformative technology is now a key driver for the evolution of the insurance industry globally and this US-UK program is all about providing support and removing barriers to enable insurtech firms and insurers on both sides of the Atlantic can collaborate effectively.”
Key advantages of the FintechOS platform over other technology offers include:
- Speed-to-market: Admiral was able to move from conception to launch quickly with FintechOS. The FintechOS platform empowered the insurance provider with low code/no code ability, cloud native architecture, composable core blocks, and pet insurance Accelerator
- Anytime updates: Using the FintechOS platform, Admiral product designers can independently adjust and fine-tune ratings and coverages, via a low-code interface. Admiral’s dependency on technical teams to implement changes was removed by FintechOS – allowing Admiral to avoid costs and operate at its own pace.
- Data-driven personalization: A key requirement for Admiral was supporting Multi Pet policies. FintechOS enabled Admiral to provide hyper-personalized pet coverage data-driven personalization through integrating Admiral’s extensive customer data with a digital interface.
- Ecosystem integrations: Admiral was able to integrate its pet insurance offering into partner systems with ease with FintechOS.
