• caroline0988

First to market broker branded D2C Alpaca product

Updated: May 19



Cooper Rose Digital is proud to announce that it has recently launched a market first, broker branded, Direct to Consumer (D2C) Alpaca product, for one of its MGA clients; Peliwica Insurance!!


This new Cooper Rose Digital D2C distribution feature, allows MGA’s like Peliwica Insurance to support their Broker partners with a digital D2C quote and buy distribution feature.


This is an MGA first to market solution that was delivered in 7 weeks and allows MGA’s broker partners to trade with their customers digitally, in a scalable and affordable way.


Cooper Rose Digital’s MGA platform means that MGA’s can enable their Broker partners to maximise their premium income; whilst being able to reduce their own operating cost.


One of the major benefits of using Cooper Rose

Digital, is our ability to deliver fast paced, complex product launches in an average of 6 weeks! Keeping our clients on the cutting edge of InsurTech innovation.


The Opportunity:


Our client, Peliwica Insurance is a technology led MGA, who demand a secure, dynamic, innovative, modularised and configurable software platform, that is continually being pushed to the boundaries of InsurTech features.


Peliwica is continually expanding their product portfolio and therefore needed a software platform and provider that can keep pace with their appetite to deliver regular products and features.


This latest distribution feature release will now give Cooper Rose Digital clients access to whitelabelled D2C product features.


As an MGA insurance system specialist, Cooper Rose Digital, alongside their agile delivery partners Sandpiper Consulting, were tasked to build a direct to customer, Broker branded, front end, for one of their specialist MGA’s, Peliwica Insurance, to launch their Alpaca product.


Peliwica Insurance needed to leverage the technology stack of their existing Cooper Rose Digital insurance platform, by having a Broker branded D2C distribution module developed.


This enabled Peliwica Insurance to configure, automate and replicate this front end D2C distribution module across their Broker network and other products in a rapid and inexpensive way.


Approach:


With the expertise from our digital transformation and agile delivery partners Sandpiper Consulting, we used their tried and tested blended agile methodology of ‘Discover, Design and Deliver’.


The overall objective was for a rapid 8 week delivery, from discovery through to MVP delivery, which also included automated and acceptance testing. By using fast-paced and remote agile service design workshops and Product/ feature elaboration sessions, Sandpiper also helped to train and coach Peliwica Insurance staff in Agile ways of working.


The end result of this relationship with Sandpiper Consulting was a clear and concise set of product and service features that ultimately delivered Peliwica Insurance’s product requirements; that covered a modular and flexible D2C Alpaca insurance product front-end, that was configurable to their Brokers corporate branding; documentation and CMS needs.


In addition, this new broker branded D2C feature was fully integrated into the existing Peliwica Insurance full stack MGA underwriting platform, enabling a seamless end-to-end day one delivery.


System Needs:


The objective is to build a direct to consumer proposition, quote and bind, full stack MGA Insurance Software solution which enabled the following product features:

  • Distribute policies via a direct to consumer website

  • Build a full replication of the binding authority in a rating engine, underwriting workflow and manual underwriting

  • Customer emails and documents in real time

  • Policy management: business, renewals (auto and manual), cancellation, endorsements and MTA (Mid Term Adjustments).

  • White labelled broker branded policy documentation.

  • Additional reporting integration to MGA for reporting on new product

  • Commision management

  • Claims Management

  • Multi product back office searches and reporting

  • Broker permissions and commision

  • Integrations:

  • Payment gateway

  • Sanction & PEP checking

  • Postcode lookup


Outcome and next steps:


One of the most critical and important elements post-product launch, is to remain agile.

After the first 2 months of live sales, the figures look astounding, with online conversion at 150% more than anticipated, customer satisfaction at 98% and operational costs at the lowest for any product previously sold by this distinguished broker.


The first 6 months will be looking at user behaviour, allowing relevant tweaks and adjustments to the customer journey. In the big data world, having all the data is only part of the challenge, knowing what to do with it is where you can really make the difference. Using our interactive MI and BI analysis tools, our client can review their data and make necessary adjustments to any part of the journey, system, documentation or even the emails.


A further rollout to other trusted agricultural brokers, creating alternative routes to market, with white labelled, broker branded distribution options available to other brokers, as well as the inclusion of Alpaca Insurance to the Peliwica Rural Broker Marketplace. For more information on the exciting peliwica Rural marketplace, please send an email to info@peliwicainsurance.com for more information on eligibility.






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