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Nanoinsure: Bringing Innovations to the Insurance Industry

Terence Ho, Chief Commercial Officer, NanoinsureTerence Ho, Chief Commercial Officer
Since 2019, Nanoinsure software platform has been powering some global leading insurers in nine markets, seven languages, and multiple currencies. Every day, more than 30,000 insurance advisors use the software. They deliver the total Value of New Business (VNB) of more than US$ 900 million yearly and serve and protect 11 million policyholders.

Product innovation and distribution are the key growth opportunities for insurance companies. To help its clients gain market share, Nanoinsure provides the “Excel to API” and low-code development platform, allowing insurance carriers to create products faster than ever. Simple (embedded) products, for instance, can be completed and launched within one week, whereas comprehensive investment-linked products can be completed within four weeks.

Helping clients to develop products faster:
Most existing no-code or low-code software require users to develop products via drag and-drop features or in a proprietary Excel format. They essentially set the boundary of innovation, and limit insurers’ creativity and flexibility in product offerings.

By contrast, NanoBYO – the product and process development platform, has a few unique features that make it stand out from its competitors. As an example, NanoBYO can consume insurers’ own actuarial excel directly, convert the logics into executable codes, run thousands of scenarios to ensure rigorous accuracy, and then turn them into APIs in nearly real-time.

NanoBYO allows citizen developers and experienced programmers to create financial needs analysis questionnaires, and other business application forms. In addition, the users can configure business validations and underwriting rules, and set up distribution channels without writing a single line of code. Rather than a product factory, it is an end-to-end product and process development platform.

Maximizing distribution for traditional and eco partnership:
NanoPOS is a sales distribution platform that supports D2C and B2B business models, from embedded insurance distribution to Direct-to-Consumer portals to insurance regulatory compliant Point-of-Sale applications.

NanoPOS differentiates itself through its capabilities in deepening customer-agent-insurer relationships. For example, the built-in customer-centricity capabilities accelerates the comprehensive sales process from 60 minutes to 20 minutes, which already includes product quotation, illustration, what-if simulation, e-applications, real-time underwriting, OCR, eKYC, all the way to payment. It is a complete quote-to-bind application specifically designed for the insurance industry.

Future-ready architecture:
From a technical perspective, the industry is gradually transitioning from monolithic architecture to microservice architecture. With Nanoinsure’s cloud-native and API driven architecture, clients can improve their business agility and sharply reduce the total cost of ownership.

  • Nanoinsure provides the “Excel to API” and low code development platform, allowing insurance carriers to create products faster than ever

Why Nanoinsure:
Besides the proven software, having the ability to execute all projects successfully is their fundamental competitive advantage. When COVID-19 swept the world, Nanoinsure delivered multi-country, enterprise-wide projects during the pandemic while all the team members and customers were WFH. Despite this, 100% of its projects were completed within budget and on schedule.

Co-founded by two industry veterans and technology experts who worked together for over 12 years, Nanoinsure is a bootstrapped, faster growing, and profitable insurance technology company in Asia. It focuses on providing innovative software solutions while delivering customer satisfaction. Through its technology and people assets, Nanoinsure continues to develop next-generation policy administration applications to drive innovation in the industry.

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Top 10 Digital Insurance Software Solutions Companies in APAC - 2022
Nanoinsure

Company
Nanoinsure

Headquarters
Hong Kong and Singapore

Management
Terence Ho, Chief Commercial Officer

Description
Nanoinsure software platform has been powering some global leading insurers in nine markets, seven languages, and multiple currencies. Every day, more than 30,000 insurance advisors use the software. They deliver the total Value of New Business (VNB) of more than US$ 900 million yearly and serve and protect 11 million policyholders.