Singapore-based insurance technology solutions provider OneDegree Global (OneDegree) and Thailand-based sofeware as a service (SaaS) insurtech startup Eazy Digital have joined forces in a strategic partnership aimed at setting a new standard in Asia’s insurance sector.
OneDegree said in a statement on Tuesday that further bolstering this alliance, OneDegree has made its first external investment in Eazy Digital.
By zeroing in on the urgent need for efficient agency management, this partnership aims to offer innovative solutions that will boost revenue and enhance competitiveness for insurance providers.
Thus, the newly formed strategic partnership directly tackles these critical issues. It integrates OneDegree’s IXT, a scalable modern insurance platform designed to manage every aspect of the insurance lifecycle, with Eazy Digital’s automated agency management system (AMS), which liberates insurance agents and insurers from the constraints of legacy systems and manual procedures.
The integration of the two company’s platform also empowers insurance transformation from the roots of backend core operations on IXT platform all the way to frontend distribution on Eazy Digital’s end.
“Today’s complex insurance landscape calls for agile, adaptive solutions. Our collaboration with OneDegree allows us to focus on our frontend platform while being able to provide a full packaged solution for insurance clients via the partnership and vice-versa,
“It integrates the best of our offerings but provides a unique, scalable solution that puts unprecedented control back into the hands of insurers,” said Harprem Doowa, Co-founder and Chief Executive Officer of Eazy Digital.
It said the enhanced lead management features empower agents to accelerate sales while reducing the time-to-conversion.
The combined solution also automates labor-intensive tasks such as generating quotes, issuing policies, and processing endorsements, thereby increasing accuracy while saving time.
The key features and benefits for the solution including speed to market, which include quick implementation and fast new product launch for distribution.
They also streamlined agent sales process with modern tools to drive unparalleled efficiency from lead acquisition to closing deals.
The benefits also include real-time quotation and policy management that allows fast and accurate processes in quotation, policy issuance, and endorsements with straight-through processing capabilities.
They also provide intelligent performance insights that gives real-time insights into key key performance indicators (KPIs) and service level agreements (SLAs).
“Automation is no longer a luxury but a necessity for growth. This partnership offers advanced automation for mundane and complex tasks alike, enhancing agency efficiency and directly benefiting insurance revenue,
“Our investment in Eazy Digital exemplifies our belief in the transformative power of this partnership, which we expect will bring mutual benefits for our existing and future clients,” said Michelle Ip, Chief Commercial Officer of OneDegree.
Incorporated in Singapore and with presence across Asia, OneDegree is a technology company that offers IXT modern insurance core solutions and Cymetrics cybersecurity services to insurers and enterprises.
Founded in 2022, Eazy Digital is a insurtech firm offering a state-of-the-art SaaS platform designed to empower insurance companies and brokers of medium to large scale.
The firm provides an array of tools, including intuitive dashboards, efficient quotation systems, renewal notifications, and comprehensive claims management.