Sum cumo
Award Category
Insurtech
The revolution of car insurance
sum.cumo is a strongly growing, innovative digital company from Hamburg founded in 2010 and has
since grown to about 150 employees with offices in Hamburg, Dusseldorf and Zurich.
Digitalization for us means more than just using new technologies. Today, companies that
consistently think and act digitally are among the most successful in the world. This is where we
come in. Together with Dextra, a Swiss insurance company, we built up a digital car insurance.
What’s unique and innovative about this project:
The ambition of Dextra insurance and sum.cumo is to revolutionize car insurance in Switzerland. A
high degree of process automation goes hand in hand with an innovative approach in price
calculation, which gives Dextra a clear competitive advantage. The price calculation is based on realtime
market data analysis and tariff optimization. It uses machine learning, a highly complex system
that continuously processes a high amount of real-time data. Through intelligent and complex
algorithms, the system constantly learns on the basis of this database – and thus is constantly
achieving better and more suitable results. In the calculation for the customer, the prices are
calculated daily, so that the customer pays a highly individual price for his insurance premium. The
insurance product offers Switzerland’s most comprehensive protection on the market: Insured
persons can choose between three rates, each with different coverages and benefits and further
configure the policy if necessary.
What’s the core of digital car insurance:
Basis for this digital car insurance is a sum.cumo’s open source insurance platform, which is currently
used by four insurance groups with activities in Austria, Germany and Switzerland. The platform
provides a feature eco system, which is continuously extended upon in a joint effort between
sum.cumo and participating insurers.
Which trends does the sum.cumo solution address?
sum.cumo are pioneers in the industry and not only follow trends, but also have the ambition to set
them. This is why sum.cumo works data-driven: All data used within the insurance process is
available real-time. In combination with external data it is used for dynamic pricing, improved
customer services and efficient claims handling. sum.cumo offer its clients innovative technology:
sum.cumo platforms are built for the API economy. They can seamlessly integrate into different eco
systems. Sum.cumo puts the customer first: Innovation at sum.cumo is the product of user centricity,
agile methodologies and latest generation customer interfaces. We realize excellent network effects:
sum.cumo co-operates with established software companies and InsurTechs to complement its core
system and deliver the best possible solution.
Is it a technological quantum leap?
The combination of market know how and the sum.cumo open-source platform SCIP represents an
unbeatable core element of Dextra Insurance AG’s business model and a quantum leap in the
market. sum.cumo and Dextra will resolutely continue on their chosen path, staying true to their
mission of consistently implementing digital customer-centric processes in insurance and making
them competitive.