Seyna provides declare administration product for insurance coverage brokers
French startup Seyna is slowly constructing an all-in-one platform for insurance coverage brokers in order that they’ll create, promote and handle insurance coverage merchandise from scratch. And the corporate is launching a brand new product referred to as Seyna Claims. Because the title suggests, Seyna Claims empowers insurance coverage brokers in order that they’ll deal with claims themselves.
Seyna is an insurtech startup that has obtained an insurance coverage license from the French regulator (ACPR). The corporate has created a core insurance coverage system, which implies that it will possibly rapidly generate insurance coverage insurance policies with totally different clauses in order that brokers can discover the fitting stability between protection and value. The startup has elevate €47 million since its inception.
Some corporations working with Seyna embrace Dalma, a pet insurance coverage startup, or Garantme, an unpaid lease insurance coverage firm. Seyna shoppers can construct a subscription funnel with real-time quotes, generate contracts and invoices on the fly, and extra.
Along with Seyna’s personal stability sheet, the corporate additionally companions with huge reinsurance corporations like Swiss Re, Scor or Munich Re. Some corporations even have an current relationship with insurance coverage corporations in order that they solely use Seyna’s tech platform.
Whereas brokers can now do lots of issues, they typically should depend on a third-party declare administration corporations. These corporations choose up the telephone, examine whether or not an incident is roofed by the coverage and analyze paperwork. Additionally they take a reduce on insurance coverage premiums.
With Seyna Claims, many insurance coverage brokers will be capable to deal with these pesky duties instantly. It’s a software-as-a-service product with a white-label interface that ought to price lower than working with a declare administration companion.
In contrast to different dealer platforms, equivalent to Courtigo and Sydia, Seyna isn’t simply an administrative instrument. It integrates with the remainder of the Seyna insurance coverage platform. For instance, declare knowledge can instantly enrich the accounting tab that exhibits how your insurance coverage merchandise are doing.
Sooner or later, the startup hopes it will possibly allow third-party integrations in Seyna Claims to reinforce the product’s potential. For example, Seyna might provide integrations with Shift Technology for fraud detection, Stripe or MangoPay for payouts with built-in KYC options, and many others.
Insurance coverage corporations may select to make use of Seyna Claims independently from the remainder of the Seyna platform. The startup desires to construct a modular platform in order that the insurance coverage trade can choose and select some Seyna merchandise in the event that they assume they are often related to enhance their operations. Primarily, Seyna is making an attempt to modernize the insurance coverage tech stack.
Picture Credit: Seyna