Boat-surance is considered a showcase example for the online distribution of so-called niche insurance products, also known as “orchid products”. These are insurance products which, although they are in the higher premium sector, are less relevant to insurance in terms of total premium volume and do not justify the often heavy administrative burden. Nevertheless, there are enough such products in every portfolio.
With its I-SaaS solution, bsurance starts where the conventional sale of such products – in this case a charter deposit and charter cancellation insurance – becomes complex and time-consuming and therefore also cost-intensive. Thanks to bsurance and the complete digitalisation, sales are now possible completely online via a dedicated website. All insurance processes are also automated and synchronised with the product provider, who also acts as the risk carrier. All processes for claims have also been digitalised and are now completely online.