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Insurance

Nitrobox for Insurance companies

Offer modular on-demand insurance products and develop new revenue streams

Constantly changing markets and customer requirements are putting insurance companies under ever-increasing pressure to act. However, due to the high level of complexity in the insurance sector, the introduction of new products and services involves a great deal of financial and personnel effort – and makes it difficult to implement innovative ideas.

 

Learn how Nitrobox can help you maximize your innovation power despite complex products and system landscapes.

Using the smart Nitrobox cloud solution, you are able to monetize and bring new digital insurance products to market within a few weeks. Offer digital payment methods, bill and post them conveniently and easily with Nitrobox.

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New revenue sources through digital insurance products

Transformation of business models, constantly changing markets and individual customer requirements: The insurance industry is undergoing a dynamic process of change.

Demand-driven, flexible insurance products that adapt perfectly to customers’ lifestyles and are calculated on a customer-specific and risk-appropriate basis, e.g. using IoT data, are the basis for exciting new business models and monetization strategies.

Nitrobox enables insurance companies to monetize complex, digital business models quickly and easily:

Demand-oriented insurance products

Especially in the field of on-demand insurance products Nitrobox offers great benefits. For example, on-demand and usage-based rates can be billed by your requested billing units, such as per minute, hour or day. Potential use cases are:

Advantages of digital insurance products

Finance

Customers

Innovation & dynamics

Monetize and bill on-demand insurance models with ease

Nitrobox acts as a smart subleder. It manages, bills and posts all financial processes and orchestrates the financial interactions between insurance company, policyholders and payment providers.

Afterwards, Nitrobox hands over the financial reporting to the general ledger of your insurance company.

Nitrobox can be easily integrated via API into your existing ERP or backend systems such as SAP, which enables you to roll-out your insurance monetization strategy within weeks instead of months or even years.

Flexible orchestration of your order-to-cash process

Nitrobox: A strong enterprise software partner at your side

Enhance your legacy IT with Nitrobox and implement unlimited business models

When designing new digital insurance business models, legacy ERP systems very often prove to be a show stopper. Companies face large-scale IT projects, when instead agility, flexibility and scalability are needed.

This is where Nitrobox comes into play. The Nitrobox solution is an enterprise-grade cloud software (SaaS) for managing sophisticated monetization models such as on-demand and pay-per-use – in real time and adaptable to any market.

One central platform for agile and automated billing processes

The Nitrobox Agile Monetization Platform can easily be integrated into existing backend systems such as SAP – enabling insurance companies to roll-out their new monetization strategies within weeks.

Adapting unlimited monetization strategies, convergent billing and payment automation are only a few of many capabilities, that are combined in this smart platform. It is fast, reliable, secure – and helps you overcome the inflexibility of legacy backend systems.

Nitrobox Monetization Platform at a glance

Increase order-to-cash efficiency up to

85%

Shorten the time-to-revenue to

6 weeks

Increase business agility

10x

Reduce TCO up to

70%

Nitrobox core product capabilities

Unique product

Nitrobox provides a unique cloud platform enabling unrivaled flexibility and scalability in set-up and automation of monetization processes.

 

Monetization strategy

Model your monetization strategy with unlimited options: subscriptions, usage-based, one-time or hybrid. Execute changes in real-time and deploy within minutes.

 

Revenue recognition

Fully automatic revenue recognition including deductions, tax or refunds. Manage subledgers, debtors, accounts and financial reporting.

 

Contract management

Manage contracts from creation to fulfillment. Respond to changes in real-time and manage the whole process in one single platform.

 

Convergent billing

Convergent billing in any language, currency and layout. Connect any type of data for usage rating and dynamic pricing.

 

Payment automation

Integrate any payment provider or bank account. Automated processing of chargings, refunds and settlements.

 

Nitrobox to take with you

Nitrobox fact sheet

Download the PDF (EN)