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About Hugh Terry & The Digital Insurer

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Services of interest
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Arthur D. Little

Arthur D. Little has been at the forefront of innovation since 1886. We are an acknowledged thought leader in linking strategy, innovation and transformation in technology-intensive and converging industries. We enable our clients to build innovation capabilities and transform their organizations. ADL is present in the most important business centers around the world. We are proud to serve most of the Fortune 1000 companies, in addition to other leading firms and public sector organizations. For further information, please visit www.adlittle.com

Inzura – Analytics Driven Digital Insurance Platform

In View Summary

Inzura is a cloud-based white label platform that allows insurers to launch apps that accelerate the digitisation of traditional insurance offerings in the face of small, nimbler startups. Through the use of smartphone telematics, photo recognition and location based sensors, Inzura aims to equip large insurers with all the tools necessary to compete in a mobile first world. The use cases typically provided by Inzura are property insurance apps built around location-based data and customer engagement features that leverage image analytics from smartphone cameras. For example, Inzura offers a white label smart phone telematics app for car insurance that instantly generates a quote registration number, car make, model and colour & mileage.

Essentially, Inzura’s platform enables insurers to quickly launch mobile digital insurance offerings. Inzura’s initial platform is capable of addressing wider insurance categories including home, travel, pet and life insurance.

Inzura aims to revolutionise the way insurance is done, from policies built around real-time user data through to a more streamlined customer experience – all via the customer’s smartphone

Inzura aims to revolutionise the way insurance is done, from policies built around real-time user data through to a more streamlined customer experience – all via the customer’s smartphone

Inzura’s current product portfolio includes; mobile apps, integrated e-voucher rewards, insurance telematics, image recognition software and a data analytics platform and services. It’s interesting to note that Inzura’s suite of solutions are almost entirely mobile-based and there is also an overarching use of location-based data streams that also reflect the key features of competing startups within the insurance industry.

Reported Benefits

Benefit to Customers

  • Mobile optimized experience.
  • Usage based premiums.
  • Information and incentives for better behaviour such as safer driving or healthy habits like daily exercising.

Benefit to the Insurer

  • Speed to market
  • Reduced management costs
  • Access to valuable user behaviour data

The Digital Insurer's View

This Inzura platform represents an opportunity for insurers who are currently struggling to compete with mobile startups and online competition. However, although the cost:benefit of deploying a complete mobile solution may be advantageous in the short term, the imminent disruption within the insurance industry will take more than technology brought in from external suppliers such as Inzura. Rather, insurers that are serious about the digital era must instil a culture of experimentation and a tolerance for failure similar to those exhibited in the most successful startups. Although cultural shifts within large multinational insurers is a gradual process, traditional insurers that continuously outsource their digital capabilities do so at the risk of not addressing the root cause of the problem.

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