One of the first companies to enable insurtech and fintech solutions on one digital platform, Briisk has provided the technology to launch South Africa’s first fully digital drone insurance, Drone Covered.
The insurance, underwritten by Transact and Protect Insure (TPI) and insured by Mutual and Federal Risk Finance, is supported by Briisk’s Instant Transaction Platform.
The transaction platform allows insurers and retailers to access the digital marketplace via a branded white label user interface.
Briisk CEO and co-founder, Hanno van Aarde, says: “Our goal is to digitise the insurance and financial services market and to accelerate access to online marketplaces, to the point where anyone can sell or buy a financial service, seamlessly.”
Disruption of business models and value chains in the insurance and financial services sector has increased the need for product innovation and speed to market.
“Our Briisk Instant Transaction Platform increases the speed of our clients’ innovation cycles. This gives them a massive competitive advantage in the current rush for insurers to become digitally-enabled, customer-driven organisations with fully automated and efficient business processes,” adds van Aarde.
This is made possible by Briisk’s core technology based on entity management, allowing the company to digitally map a neural network of any financial services business model and value chain.
“Due to the complexities of the insurance industry and regulatory framework, launching any insurance product is difficult,” says Henk Roos, CEO and founder of TPI. “Briisk’s business model mapping technology enables us to digitally replicate the entire insurance value chain and capture product and customer data according to a UX optimised customer journey and white label interface. We are able to individualise customer communications to our requirements and according to statutory regulations.”
Working across multiple sectors, Briisk provides end-to-end insurtech covering the entire insurance policy life-cycle, from policy issue to claims management, and communicating with policy holders at all touch points.
Briisk has been a technology provider of click-and-transact financial services since 2016 and sees the release of each new financial service as an opportunity to move a previously inefficient and slow-to-market industry forward, through digitisation and automation.
“It is simply not efficient for financial services providers, or any others wanting to access the online mass market, to negotiate through the complex industry jungle or even their own technical legacy systems when they can instantly sell or buy digital financial services seamlessly,” says van Aarde.