[Market] The New School of Claim Settlement and How Startups Do It

“Our analysis of over 2500 European insurance-related startups allowed us to observe that only 15% of pure Insurtechs deal with topics related to settling insurance claims and combating extortion. The remaining 85% focus on new distributions channels, new insurance products or risk evaluation and assessment. This is no surprise since claims and fraud are the links of a value chain, which require the combination of advanced technologies and expert knowledge and these do not always go hand in hand.”

“We decided to collaborate because the startup has the technology to improve our claim verification process efficiency many times over. At the same time, the service is simple to embed in our business process. Thanks to this project we generate savings which contribute to improving our competitive position.”

“The measurable RoI (of implementing Zelros) is related to time saved by our claim managers in treating each dossier, which we’ve estimated to be reduced by 40–50%. It, therefore, reduces significantly the cost of each phone call. In fact, the solution allowed us to automate all repetitive tasks.”

source: Zelros.com

VC fund investing in early-stage / insurance startups all over Europe.

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VC fund investing in early-stage / insurance startups all over Europe.

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