Backbase for Insurance

Enable policyholders and agents to view and update their accounts and policies from any device. Deliver omni-channel onboarding, quote & buy, account & policy management and claim self-service journeys that are personal and frictionless which as a result will increase conversion rates and improved cycle times.

Request a Live Demo Download Solution Overview

Three main objectives

Backbase empowers both life and non-life insurance providers to repurpose traditional policy administration and claims management systems and integrates business rules, data and product models from these disparate systems into a seamless experience to fully support brokers, tied agents, and direct channels.

1. Delight your customers and agents

2. Empower your business teams

3. Accelerate your IT development

Ready-to-go solutions

The Backbase platform has a flexible and modular architecture that gives life and non-life insurance providers full control of their digital transformation. The platform acts a hub – that unifies new digital initiatives and your existing landscape. It operates at the intersection of people, process, data, and devices and provides insurers a single platform to create and optimize enhanced customer experience through both self-directed and assisted channels.

The Backbase Insurance solution offers an holistic approach to digitization that makes it possible to unify the data acquired from any channel – a customer via mobile, an agent via desktop, a call center screen, a personalized medical device, and other data sources – through one hub, the “anchor,” that orchestrates the digital experience across all touch points. By approaching business activities holistically across people, process, technologies and devices, insurers will be one step closer to a model that is extendable, re-usable and customizable. Contrary to what may seem possible, digitizing your business — your whole business – is possible, and can be achieved quickly.

Through omni-channel customer journey orchestration, including seamless handover between channels and devices, customer information is made available on all touch points. With its strong focus on user experience (UX) design, Backbase gives you the flexibility to create on-demand apps based on the unique needs of each customer, that will drive your competitive differentiation.

 

1. Delight your Customers and Agents

Customers have high expectations for digital access to all aspects of their accounts and policies. Similarly, agents and brokers also prefer doing business via easy to use digital channels. Move your digital capabilities to the next level with the Backbase Digital Insurance Platform which offers a one-stop-shop for building, running, managing and optimizing all digital channels using state-of-the-art technology. Enable policyholders and agents to view and update their accounts and policies from any device. Deliver omni-channel Onboarding, Quote & Buy and Claim / Self-servicing journeys that are personal and frictionless which as a result will increase conversion rates and improved cycle times.

My Portal

Offer distinctive digital experiences and engage with customers, brokers and agents through their digital channel of choice. Unify data and functionality from various core systems into a comprehensive, easy-to-grasp Portal or Mobile App.

  • Unify functionality and data from different core business applications into easy to use web and mobile apps
  • Create a central digital experience platform to empower all stakeholders: customers, agents, and employees, that enables seamless collaboration between them.
  • Empower your employees with smart widgets and mobile apps that increase operational efficiency and reduce cycle time.

Account and
Policy Management

Deep insight into all active policies and coverages. Full control over all accounts and policies with easy to use self-service functions for updates, payments and claim handling.

  • Review active claim history and details and monitor claim status for open cases
  • Empower policyholders to view and change account details and update their own personal profile and communication preferences.

Quote & Buy

Insurers can grow their revenue and reach a broader audience anytime/anywhere from any device. Policyholders and prospective new customers can now obtain quotes and buy a policy online.

  • Create effective and smooth origination and digital sales processes.
  • Increase sales conversion and minimize abandonment rates.
  • Cut back on the ‘paper trail’ and move to full straight through processing.
  • Target prospects and customers with relevant sales campaigns.

> Like to know more? Request a demo.

Track & Trace

  • Powerful ‘Track & Trace’ capabilities for all policy applications and service requests.
  • Seamless communication and activity tracking during the origination or claim process.
  • Clear overview of to-do’s, required documents, and conversations related to new applications.
  • Total transparency regarding the status, process, and reasons for final decisions.

Claims

Backbase FNOL gives your customers a piece of mind. Claim process represents a moment of truth for insurance clients, which can have a significant impact on your customer retention. Backbase FNOL allows your customers to submit a claim on any device, by answering the right questions and providing the right information.

  • Build contextual and fit for purpose claim process per product line
  • Design dynamic claim questionnaires and forms to capture information
  • Capture damage information by using native mobile apps
  • Improve field adjustment processes and workflows, and improve collaboration between Claim handlers and Policyholders
  • Reduce operational cost, drive efficiency and improve cycle times
  • Deliver a differentiated claim experience

Direct Customer Communication

  • Secure messaging inbox, to streamline communication between all stakeholders, from customers, to agents, to adjusters, to approvers.
  • Mobile notifications, push messages, email alerts, and more.
  • Option to receive statements from selected vendors.
  • Integrate real-time customer/adviser communication such as click-2-chat and click-2-call functions for easy access to your call center.

Track and Trace

  • Powerful ‘Track & Trace’ capabilities for all policy applications and service requests.
  • Seamless communication and activity tracking during the origination or claim process.
  • Clear overview of to-do’s, required documents, and conversations related to new applications.
  • Total transparency regarding the status, process, and reasons for final decisions.

Secure Access

  • Three-layered security model: anonymous login, soft login, and hard login.
  • Integrated multi factor authentication (MFA) via token device, mobile app, or SMS.
  • Ability to require step-up authentication for high-risk transactions.
  • Option for soft login via social login (Facebook and Twitter).

Go Paperless

  • Use smartphone or tablet camera to capture paper documents and submit claims.
  • Leverage optical character recognition (OCR) to pre-fill forms.
  • Real-time back-end integration to pre-fill forms with known data.
  • Integrate with best-of-breed digital signature technology.

2. Empower your Business Teams

The Backbase digital transformation platform enables you to move faster, innovate faster, and work smarter – to enhance your customer experience, improve your operational efficiency, and respond effectively to ever-changing risks and regulations. Our business process management (BPM) capabilities enables you to automate and optimize your business workflows. The dynamic case management (DCM) capabilities support all style of case work and help you to streamline interactions between people, process, data, and content in a dynamic fashion. Users not only get the information they need, they get it in the right context—improving decision making, streamlining operations, and maximizing performance. And finally, our digital marketing capabilities provide you with intuitive visual editors and advanced targeting and analytics capabilities to optimize the customer experience across all digital touchpoints.

Experience management

Backbase comes complete with fully integrated content management and targeted campaign management capabilities, enabling digital marketers to easily edit website pages or mobile apps and run targeted sales campaigns to increase your online conversion and sales results.

Content management

  • In-context editing capabilities to easily edit secure portals and mobile apps.
  • Customizable approval workflows for verification and publication rules.
  • Central content hub to reuse content and digital assets across all digital touchpoints
  • Seamless integration with your existing CMS

Targeted campaigns

  • Track customer behavior and preferences, and create targeted cross-sell and upsell campaigns to increase your share of wallet.
  • Distribute campaigns across all your digital touchpoints, including internet and mobile banking apps and third party websites.
  • Integrated analytics spanning all channels, including regular web, mobile apps, and tracking of every action, from page views to events.

 Onboarding & origination

Improving digital customer onboarding and origination is one of the most effective sales strategies for banks and financial institutions wanting to improve engagement, share of wallet, retention and ultimately the lifetime value of a customer relationship. Backbase offers powerful software that helps you to fully digitize your customer onboarding and product origination operations, and achieve up to 80% cost and time savings by automating the onboarding process while minimizing manual paper handling and distribution.

Backbase Forms

  • Powerful reasoning and logic engine, allows complex derivations, prioritizations, and dependencies to be defined quickly and clearly.
  • Design the process that routes the forms input to the right systems and people within your organization.
  • Create reusable building blocks such as forms elements, validation & business rules, presentation templates and backend integration connectors.
  • Reuse forms building blocks across multiple channels, devices and user groups.

Integrate with your PAS

  • Backbase sits on-top of your existing back-end systems allows you to manage all digital customer interactions.
  • Comes with connectors to commonly used policy administration systems (PAS) such as Guidewire and Sapiens.
  • Create beautiful and efficient customer experiences that combine easy to use and efficiency.

Dynamic Case Management

The dynamic case management (DCM) capabilities support all style of case work and help you to streamline interactions between people, process, data, and content in a dynamic fashion. Users not only get the information they need, they get it in the right context—improving decision making, streamlining operations, and maximizing performance.

A concise, rewarding origination or onboarding process significantly improves your online sales.
Backbase Origination helps create exactly that by minimizing the enrollment ‘paper trail’ and simplifying the process. It also helps put in place business logic and (automated) workflows to support customers through enrollment and purchase cycles.Businesses can dramatically reduce overall abandonment rates by empowering marketing teams to optimize automated, personalized welcome emails, customizable alerts, and by implementing customer service tools.

Omni-channel form flows for holistic service

  • Powerful decision-making engine that allows complex derivations, prioritizations, and dependencies to be defined quickly and clearly.
  • Design the process to automatically orchestrate the forms input to the relevant systems and people within your Organization.
  • Automate processes to lower the manual workload on your Agents.
  • Create reusable building blocks such as form elements, validation & business rules, presentation templates and back-end integration connectors.
  • Reuse form building blocks across multiple channels, devices and brands.

Backbase Studio

  • Advanced design studio that business analysts can use to create and manage form definitions, conditions, rules, and flows.
  • Translate the needs of business stakeholders into manageable form definitions and workflows.
  • One-stop shop for designing the underlying forms model and creating the user interaction through dialogs, dynamic questionnaires, and work lists.
  • Maintain the links with relevant internal systems and databases, and manage relevant business logic and semantics such as business rules, decision trees, tables and any business process modelling logic.

3. Accelerate your IT Development

All those systems you built five, ten, twenty years ago? They simply can’t meet the expectations of today’s customers. How can you deliver cohesive, mobile, omnichannel experiences with data spread across applications designed for yesterday’s economy, and an IT organization struggling to meet business demand? The Backbase platform offers a low-code modeling environment that empowers citizen developers to build, launch and change powerful business apps faster than you thought possible. Your agile development and modeling teams can define product and service models, business rules and workflows for any type of decision-making business process, and changes can be made available instantly across all digital channels. By streamlining the app-building process – including giving you the basic building blocks so you never have to start from scratch – Backbase gives you the agility to create tailor-made digital experiences and take the lead in the omni-channel insurance revolution.

Custom widget development

  • Open-standards-based widget development (HTML, CSS, JavaScript).
  • Easy to assemble industrialized UI building blocks.
  • Predefined and extensible domain models.
  • Industrializes integration and security patterns to communicate with any back-end.
  • Responsive and adaptive UI patterns.

Mobile SDK

  • Create hybrid or fully native mobile apps for Android and iOS.
  • Mix and match HTML and native UI elements in high-performance runtime.
  • Easy integration with any third party mobile SDKs.
  • Bank-grade security and high-performance runtime.
  • Clearly defined extension points with clean APIs.

Customer experience services

  • Robust enterprise security and application integration platform.
  • Modern micro-services-based customer experience orchestration architecture.
  • Integrated content management and personalization/targeting services.
  • Communication through simple, universally accessible APIs.
  • Classic deployment (servlet container) and native cloud deployment.

Digital banking services

  • Banking-as-a-Platform build on state-of-the-art micro-services architecture.
  • Highly scalable services for well defined and discrete tasks.
  • API-based banking capabilities that work seamlessly with existing core banking systems.
  • Modular and extensible architecture that enables easy customization to national and international requirements and regulation.
  • Classic deployment (servlet container) and native cloud deployment.

Onboarding and origination

  • Design and deploy smooth, cross-channel onboarding processes on any device.
  • Low code development platform to define enrollment and origination processes.
  • Straight-through processing and integrated Dynamic Case Management capabilities.
  • Create and manage your forms and the business logic behind them, without coding.

Open banking marketplace

  • More than 50 best-of-breed fintech plugins for security, communications, PFM, artificial intelligence, digital marketing, KYC and more.
  • Easily mix and match services from third party fintech providers without worrying about vendor lock-in or being stuck with your core banking system.
  • Eliminate risk and save time by finding the best tools that integrate with Backbase, and increase your team’s productivity and accelerate your digital transformation.

Backbase
Insurance Brochure

Backbase empowers both life and non-life insurance providers to repurpose traditional policy administration and claims management systems and integrates business rules, data and product models from these disparate systems into a seamless experience to fully support brokers, tied agents, and direct channels.

Download now