The Italian InsurTech startup RiskApp was been selected in early 2018 to participate to the Fintech Innovation Lab, promoted by Accenture in London, to allow its customers, therefore insurance companies and banks active in the Bancassurance sector, to offer innovative services and products. Happy to be part of the small group of startups that have been selected after a very hard and demanding process, Federico Carturan CEO of RiskApp, sees in this program “incredible opportunities for the development of our company”.
Distributed as a service software and aimed to insurers offering their products in the small and medium-sized business field, this platform helps insurance agents and brokers to offer advice to their clients. “We highlight the risks and exposures that companies have and then we also provide all the tools to go mitigate these risks or transfer them to the insurance market” explains Carturan and, about his early days in the Accenture program, he points out that “we have been already in contact with the high level managers of the main insurance companies and we proposed our solution to them, explaining what the impact could be in terms of values”.
Just to name a few: RSA, Zurich and also XL Catlin. Not a bad start! Waiting to meet the other main players in the insurance market in the small and medium-sized businesses sector, thanks to the Accenture team RiskApp in Fintech Innovation Lab can also develop its unique sales proposition, working on how to communicate the value of its platform. Which one?
“We are able to impact on the various KPIs of insurance companies such as reducing the costs of the assessment because we reduce ten times the current cost, so we go from a few thousand euros to a few hundred euros” Carturan explains. He then goes on to add: “We also improve risk assessment because, by entering the business process, we are able to increase four times the number of risks that are inspected by the company. Finally, we also increase our industry sales by 20% thanks to the advice our platform is able to make”
Ready to take every opportunity offered by this experience in London, Carturan as a member of Fintech District, “is very pleased to be part of this community to help the growth of the innovation community in the world of fintech and of insurtech. The real theme of innovation is the development of the ecosystem and the ecosystem consist by the people who create it and are part of it. Fintech District is the first initiative in Italy able to create this ecosystem and this synergy”.