Insurtech firms InsureMO and Unqork have teamed up to support the process of building insurance applications across life, health, and property and casualty (P&C) segments.
The global alliance is said to help insurers, brokers, agents, MGAs and insurtech firms manage digital insurance marketplace’s high-speed and high-volume character.
This is enabled by integrating the enterprise-grade no-code application development capabilities of Unqork and InsureMO’s Middle office APIs.
Users can leverage the drag-and-drop interface of Unqork to develop front-end digital interactions, covering distribution across various channels and offering customer portal and self-service tools driven by InsureMO APIs.
Unqork head of Insurance Farooq Sheikh said: “This partnership provides customers with exactly what they’re looking for in this moment – a way to supercharge innovation and automation while cutting costs and accelerating time to market.”
A platform-as-a-service (PaaS), InsureMO serves as middleware for the insurance sector, facilitating open API collaboration.
Featuring a complete set of APIs and microservices for P&C, life, and health insurance businesses, it frees insurers from legacy constraints.
The firm powers over $20bn in annual premiums. It supports use cases across more than 5,000 channels, over 300 insurers, and insurtech in over 30 countries.
On the other hand, Unqork’s codeless architecture standard enables firms to develop and deploy complex software without worries of code.
Its client list includes the US Department of Health and Human Services, Marsh, and Goldman Sachs.
InsureMO chief revenue officer Rajat Sharma said: “InsureMO’s headless middleware platform for the insurance industry, integrated with Unqork’s ability to customise frontend experiences, empowers insurers to rapidly and easily launch new products, lower costs, and improve speed-to-market.”