Vallum makes international pitch
16 March 2018, New Zealand New Zealand InsurTech start-up, Vallum, was one of 25 international early-stage businesses chosen to pitch at the Global InsurTech Roadshow, which was held in Frankfurt, Germany last week.The prestigious Goethe Business School organised the event in cooperation with InsurTech Asia.
Vallum received excellent feedback from its pitch.
Co-founder and CEO, Kai Dwyer, a fluent German speaker, represented Vallum at the event. It was also an opportunity to form partnerships with leading companies in the sector such as Munich Re and to progress Vallum’s development.
“Demonstrating Vallum’s improved distribution model and unique customer journey at Global InsurTech provided a great opportunity to develop new business partnerships”, says Dwyer, who is a 30-year insurance industry veteran. “Contacts made at events of this calibre have the potential to accelerate the company’s planned expansion into offshore markets,” he says.
“Frankfurt was a fantastic opportunity to validate our digital platform solution in front of an audience well aware of the problems facing the global insurance industry”, says Vallum’s co-founder and Head of Strategy, Ben Northrop.
Dwyer adds: “The team has put a lot of time and smarts into improving the end-to-end customer journey. We are equally happy with the the gains in efficiencies and new insights for our insurer partners.”
“Our early goals were to help improve policy accuracy
and reduce the risk of fraud. Through a mixture of design,
digital and data, we have achieved these,” he says.
“These improvements are essential if insurers are going to
be able to invest in and manage new services and changes in
Vallum has developed a faster, easier, data rich and pure digital way to match people with policies and explain them in plain English.The process is also efficient and transparent.
“An efficient and transparent model for delivering insurance will provide a relevant and convenient user experience and enhance customers’ understanding of their risk exposures,” says Northrop.
The solution means that the efficiency gains achieved across the value chain are available to customers and will support the reinvestment of any savings achieved into closing these protection gaps.
This “protection gap” puts communities at risk of business failure if a loss happens.
“SMEs are frequently underinsured due to a poor understanding of risks. The costs for insurers to underwrite and sell cover to SME’s in a traditional linear distribution model are excessively high. That’s why Vallum’s solution works so well,” explains Northrop.
The new business partners, Dwyer and Northrop, are aligned in their views on the problems and ideal solutions for insurance supply. “The industry doesn’t need disrupting,” says Northrop. “It’s been operational and generally paying out on claims for thousands of years. It just needs a bit of modernising. A digital makeover of sorts.”
Prior to co-founding Vallum, Dwyer was in charge of the New Zealand division of global Insurance giant, Zurich. Over the last 20 years Northrop has founded, and managed several online and digital businesses. Most recently he exited Run The Red, an enterperise messaging company, to mobile payments company Pushpay (NZX:PPH), based in the US.
The winner of the pitch competition
(https:nect.com) is from Germany and provides a secure,
compliant site over which all customers can make payments to
Vallum is a digital company that focuses on the insurance market. It is a customer-centric, forward-thinking, trustworthy, data-focused company that employs the most up-to-date technology.
Vallum uses the latest in data science, both mobile and web technologies, to make decisions. This means that the customer is able to get the best insurance protection at the best price.
The customer will also
benefit from Vallum being kiwi-owned with a local support
team who are available 24x7.
Go to www.vallum.insure