(Image source: FRIDAY homepage.)
FRIDAY, the Berlin-based digital auto insurance startup, has completed deployment of Guidewire Software’s InsuranceSuite in the cloud following a 60-day development period. The insurer, which is the German branch of Bâloise Assurances Luxembourg S.A. (Bertrange), has also implemented Guidewire Rating Management and Guidewire Digital Portals APIs to support its customer experience.
Christoph Samwer, CEO and co-founder, FRIDAY.
FRIDAY provides all its insurance services entirely paperless, mobile and fully digitally integrated, on a pay-by-month basis, seeking to provide an informal and simple approach to motor insurance through what it calls creative digital engagement. Working with Guidewire PartnerConnect alliance member, PwC (London), FRIDAY’s team not only implemented the Guidewire platform in the cloud in a record time, but also built an innovative product, new to the German motor insurer market, according to a Guidewire statement. The new product allows car owners to pay for insurance on a per-kilometer basis, with the year’s premium adjusted retroactively according to distance, as transmitted by the customer to FRIDAY.
“At FRIDAY, we aim to shape the future of insurance by offering and developing customer-centric products,” comments Christoph Samwer, CEO and co-founder, FRIDAY. “Our first production release includes a mileage-based product, novel for the German market, and illustrates well our aim to provide customers with flexible insurance that suits their specific life-styles. Moving forward, our ambition is to become the most popular mobile insurer in Germany.”
Through its use of Guidewire InsuranceSuite and the broader Guidewire Insurance Platform, FRIDAY will be able to do the following, according to the vendor’s description:
- Provide customers with excellent digital experience through simple and easy-to-use products;
- Introduce new products fast (monthly, or possibly weekly) due to automation and process support;
- Benefit from cloud-derived efficiencies and cost savings, such as shutting down server when not required; and
- Utilize an integrated technology platform to build an open API architecture.
Quality, Flexible Core; Outstanding Front End
“To be innovative in the insurance industry requires a high quality, flexible core system and an outstanding front end,” comments Silvan Saxer, COO, FRIDAY. “We believe that with Guidewire we have the right technology to achieve our business objectives of providing products that are best in class, scalable, and secure. The fact that we were able to deploy our platform so quickly, inside 60 working days, is a great achievement and entirely gratifying.”