Deployed on AWS
InsuredHQ delivers mission-critical cloud native productivity applications to provide modern insurers with complete policy, claims, accounts, and document management systems.
Overview
InsuredHQ is on a mission to provide our customers with a modern and secure insurance administration platform designed to allow them to be digital-first while also enabling them to remain customer-first.
Our cloud-based productivity suite and OpenAPI are designed for mid-market insurers and MGAs across the globe and works best in the General Insurance realm. With our customer-centric approach, we already cover all the must-have features and the majority of the nice-to-haves.
Simplifying processes for both the customer and internal teams are critical problems we love to solve. This simplification depends on having a modern and unified back-end platform (IHQ-Core) to act as a comprehensive system of record. It replaces manual processes with critical and time-saving process automations.
However, in today's customer-centric insurance marketplace, Insurers also need to focus on optimizing the front-end of their business by creating seamless and compelling customer experiences. This is where our customers leverage the IHQ-API, building customer-centric products and helping their channels serve that customer.
InsuredHQ knows core administration. IHQ-Core combined with IHQ-API allows insurers to become truly digital-first while enabling them to focus on their customers.
What can customers use IHQ-APIs for?
- Build onboarding experiences or self-service mobile apps to connect to your customers directly and quickly.
- Integrate with third-party marketplaces and aggregators for competitive quote and bind experiences.
- Embed simple quote and bind processes into existing sites.
Highlights
- All of your back-office technology needs within a single platform designed with the flexibility to meet the specific demands of your insurance program.
- IHQ Core allows the simple management of quotations, new business processing, policy endorsements, cancellations, lapses, and renewals. In addition, all financial aspects of an insurance transaction, including premiums, taxes, sub-agent commissions, and insurer/reinsurer premiums and taxes, are covered.
- Leverage our API to easily build or embed into any existing distribution channels or test and validate new products quickly
Details
Delivery method
Deployed on AWS
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Pricing
Pricing is based on actual usage, with charges varying according to how much you consume. Subscriptions have no end date and may be canceled any time.
Additional AWS infrastructure costs may apply. Use the AWS Pricing Calculator to estimate your infrastructure costs.
Dimension | Cost/unit |
|---|---|
Basic subscription to access InsuredHQ tools: IHQ-Core and IHQ-API | $0.01 |
1% of written GWP up to $20m/12 month period | $0.01 |
0.75% of written GWP between $20m and $50m/12 month period | $0.007 |
0.5% of written GWP beyond $50m /12 month period | $0.005 |
Dimensions summary
Your cost has two parts. First, you pay a basic subscription to access the IHQ-Core and IHQ-API tools. This gives you entry to the platform. Second, you pay a usage fee based on your written gross written premium (GWP) over each 12-month period. This GWP fee scales in tiers by volume. You pay one rate on GWP up to $20m, a different rate on GWP between $20m and $50m, and another rate on GWP beyond $50m. As your premium volume grows, the percentage rate applied to each higher band changes.
Top-of-mind questions for buyers
GWP stands for gross written premium — the total premium value on policies you write during each 12-month period. The platform tracks these policy transactions as they are bound. Your usage fee applies a percentage rate to that yearly premium volume, so cost follows the business you write.
No. The tiers are banded. You pay one rate on GWP up to $20m, a different rate only on the portion between $20m and $50m, and another rate only on the portion beyond $50m. Each band's rate applies solely to premium within that band.
Both apply together. The basic subscription gives you access to the IHQ-Core and IHQ-API tools. On top of that, you pay the GWP-based usage fees. The subscription is a fixed access charge, while the GWP fees rise and fall with your premium volume each 12-month period.
www.insuredhq.com
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Delivery details
Software as a Service (SaaS)
SaaS delivers cloud-based software applications directly to customers over the internet. You can access these applications through a subscription model. You will pay recurring monthly usage fees through your AWS bill, while AWS handles deployment and infrastructure management, ensuring scalability, reliability, and seamless integration with other AWS services.
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Support
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