Press release
Alicia’s Insurance as a Service: for insurers, brokers, banks and e-commerce
29 June 2023
Rotterdam, June 29, 2023 – Alicia is now opening its proven platform for embedded insurance offerings to other parties such as insurers, brokers, banks and e-commerce companies. Through Alicia’s powerful Insurance as a Service platform, these organizations can now easily offer insurance to end users digitally and benefit from low-threshold and optimal distribution.
Scale-up Alicia was founded with the goal of closing the global “protection gap”. For freelancers, the company does this by offering insurance on platforms that freelancers often use, such as Temper, Roamler or Knab; they can easily take out accident insurance or professional liability insurance, among other things. Now that the platform has proven itself in this market with over 100,000 insured freelancers and the demand for embedded insurance is growing, Alicia is taking the step of opening up the platform to other organizations and insurance products.
Benefit from best practices
“The way insurance is usually offered often does not fit with the way consumers expect it, which is: on-demand, understandable and digital,” said Marijn Moerman, CEO and co-founder at Alicia. “Our platform is created precisely to respond to this and makes it easy for other parties to offer insurance digitally in a way that suits the end user.”
“We were getting more and more questions from various parties about whether we could help with digital distribution of insurance products,” Moerman continued. “By now opening up our platform to industry peers and other organizations, they can benefit from our best practices. Among other things, we advise them on how their products can be made suitable for digital distribution. By optimizing this, we ensure that they achieve the highest conversion rates with our Insurance as a Service platform.”
Companies in the insurance market can use Alicia’s platform to distribute insurance. Other platforms can use the Insurance as a Service platform to sell insurance as a complementary service to their products. A simple example is a real estate platform that also offers suitable home and contents insurance through its own site. Through an API integration with Alicia, this insurance can easily be added to the platform and the user gets a seamless experience. Alternatively, a party can choose to partner with Alicia to develop a new insurance policy.
Opening up platform provides growth boost
Moerman expects that opening up the platform to other parties will give a new growth boost to the company he founded in 2019. With a background in the traditional insurance industry, he saw opportunities to greatly improve the digital availability and underwriting of insurance. Alicia embedded insurance is now available through working platforms in the Netherlands, Belgium, France, Germany, Spain and the United Kingdom. Late last year, Alicia raised 7 million euros in growth capital in a seed investment round that included Volta Ventures, Randstad Innovation Fund and Achmea Innovation Fund.
