Insurtech has highlighted the substantial benefits of machine learning, AI, IoT, and other emerging technologies. Their speed-to-market proves that to win today and ensure future viability, organizations must equip themselves to thrive in a much more dynamic future. By tapping into the capabilities afforded by new technologies and modes of working, insurers can improve core operations, bring efficiencies to business processes, develop new sources of revenue and reach, and successfully navigate disruption in the marketplace.
Harness the Power of New Tech
Technology alone is not a magic bullet. Whether unlocking valuable insights within your data through the application of machine learning, re-platforming a vertical, exploring intelligent automation, or enable plug-and-play digital services by moving to the cloud – we’ll work with you to understand your particular business problems and opportunities to then apply the right combination of technologies to find your answer.
Seize New Opportunities
The future belongs to intelligent organizations that can respond swiftly to changing markets and customer expectations. It’s costly and time-intensive for insurers to change direction at pace, and shape and deliver new products and services. Originate helps accelerate the product development learning curve for your organization through innovation-as-a-service, prototype ideation and development, and use-case accelerators to rapidly build, test, and launch experiences and applications.
We partnered with leading catastrophe risk modeling organization, RMS, to create a cloud-based ecosystem for component-based applications. The platform supported third-party risk modeling for the quantification of risk through open, real-time exposure, and portfolio management. Originate led the ideation, design, architecture, and development of both the risk management cloud platform, and a set of three initial core-offerings for insurers and financial institutions.
Prudential’s new ventures arm was interested in exploring the potential of blockchain technology in the insurance sector. Using their domain expertise, extensive research into industry trends, design-thinking explorations, and our knack for identifying actionable opportunities we were able to validate product-market fit and prototype an Ethereum-based peer-2-peer (P2P) unemployment solution. After a successful prototyping phase, Originate led coaching seminars and held lectures for Prudential team members to be able to enact design-thinking principles at hand-off.