The Impact of Sandbox on the Insurance Banking

Do you know how useful a Sandbox can be? In general terms, this «sandbox» is an open place that is used to experiment with new technologies or products that, by consuming banking and insurance services, provide a dynamic space of added value offer for new players in the segment, satisfying the particular needs of customers.

From the aforementioned, we can point out that this allows companies to test and test different products, services and technologies without being afraid of the errors and failures that may arise from experimentation.

LISA Gateway + Sandbox

Within our new and wide digital ecosystem, LISA Gateway, there are various functionalities, one of them, the Sandboxes. In this way, a total technological ecosystem can be effectively implemented within the company, which allows a completely open technology integration between the parties involved in a traditional insurer (broker or sponsor, bank and insurer).

It is important to emphasize that LISA Gateway has other innovative functionalities such as: Automated Subscription, Integration of a CRM, Business Intelligence, Issuance of Policies, Claims, Payments, Renewal, Products and Quotes. From the aforementioned, we can affirm that starting from the pains of the insurance industry, we have sought to innovate and remedy through totally differentiated and automated ideas.

The idea of these «experiments» is to validate new products and services and scale them to other companies, giving them the opportunity to grow and update.

What impact does the Sandbox have on Insurance Banking?

  • Improve service quality by processing requirements in real time.
  • Reduces Time2Market, which generates customer loyalty.
  • It enables free technologies to test new integrated products.
  • Manage frauds integrated into all transactions.
  • Guarantees a greater data acquisition to add future value to prices.
  • It provides more efficiency and preparation for the culture of innovation and speed.
  • You have immediate access to the stored data and obtain great benefits.
  • Save settlement costs and fixed costs.

At LISA, we understand the importance of transforming the insurance industry in order to correct its latent pain, despite being a challenge for the present rudimentary level, we are driven by the need for change and innovation to seek customer loyalty and saving operating costs. If you want to know more about LISA Gateway, contact us by clicking here.

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