Amodo – Connected customer platform for insurers

Amodo is an emerging Croatian startup that aims to radically change the way insurance products are created, bought and sold. With Amodo’s Connected Customer Platform, insurers can address the needs and lifestyle of the Millennial generation.

Amodo is focusing on digital channels and connected devices such as smartphones, connected cars and wearable devices to collect customer data and build a holistic customer profile upon which better insights into customer risk exposure and product needs can be gleaned. Using this data, risk prevention programs, individual pricing as well as personalized and “on the spot” insurance products can be offered to customers, thus increasing customer loyalty and lifetime value. Throughout the entire process, the insurer has the means to proactively engage their customers, and customers enjoy a continuous positive experience with the insurer.

Ultimately, Amodo enables insurance companies to achieve significant savings through lower claim costs and facilitate business growth through lower acquisition cost.

Amodo leverages digital channels and connected devices to collect customer data and builds a holistic customer profile, ultimately providing better insights into customer risk exposure and product needs

Amodo has already developed different solutions for insurers such as Driver Suite (linked to motor insurance) and Health and Lifestyle Suite (related to health and well-being). Additionally, Amodo also caters to automotive and telecom players.

Benefit to Customers

• Accurate needs analysis
• Individualised and personalised product recommendation
• Better engagement and coaching for improving behaviour and lifestyle
• Cost reduction

Benefit to the Insurer

• Better engagement with clients
• Capability to offer a flexible and cost effective UBI solution
• Better risk assessment with advanced context and conditions based customer data analysis
• Individualised and behaviour based customer segmentation

Although Amodo leverages data and analytics to offer on-demand, real-time, usage-based insurance products, the format of data and increasing privacy concerns is threatening to hinder the ability of startups such as Amodo to both access and analyse customer data points. How Amodo will mould its business model to accommodate the changing nature of consumers with regards to data ownership will be interesting to follow.

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