The Singapore-based insurtech 360F has announced the launch of its new modular product suite.
The technology rollout has been carried out on a global scale, and includes the company’s flagship solutioning optimiser, 360-ProVestment. Up to now, 360F’s product suite has been available for life insurers and brokers in Singapore, Malaysia, UAE, Bahrain, and Qatar.
The news follows on from 360F’s announcement last week that it was partnering with Zurich Life International to expand ZurichPro’s end-to-end capabilities.
360F’s technology enables data-driven and scalable advisory in life insurance and wealth management with intelligent automation and scientific engagement.
The insurtech’s flagship 360-ProVestment is also the world's first-ever A.I product recommendation engine for life protection and wealth management needs. Its capabilities include enabling advisors and agents to help their customers achieve optimal financial well-being.
360F modular product suite
Called 360-HappiU, the new product suite features a number of design elements that can help customers comprehend and validate their choices to a high level of configuration. The solutions enable fintechs to launch in a 90-day timeframe, while the 360F enhances advisor capabilities with scale economics to form a robust base of trust between customer and advisor.
Unlike the conventional financial ratios, The new suite also forecasts the customer’s financial future. According to reports, the solution factors in the individual values, beliefs and lifestyles to establish the customer’s financial satisfaction criteria, against which the module simulates to yield the HappiU score.
Speaking about the launch, 360F CEO Michael Gerber, explained, “Motivated to improve their HappiU score, customers become more willing than ever to seek suggestions. We have been keeping up their momentum by showing them their multi-needs solution options, all customised in real-time.
“We now boost engagement even more with insights-generation capability so that customers get self-explanatory pointers that they can apply immediately to improve their score,” said. “Enabling customers to take an educated role in their financial well-being unlocks the full potential of advisors.”
The new release also enables financial institutions to enjoy accelerated time-to-market and simultaneously, higher quality of the business portfolio with:
- The investment portfolio generator facilitates unit-linked policies to be configured holistically with other financial products and scored as part of the customer’s HappiU
- High configurability streamlines the process for product carriers to onboard new products and reflect regulatory changes for automated recommendation
- Pricing sheets transformation enable product carriers to upgrade from legacy architectures and give their captive and third-party digital distributors the ability to automate real-time solution bundles, which can include even the most complex products.
Clarie Kwa, 360F CMO added, “With computing-intensive simulation and optimisation techniques on the back of Nobel-Prize winning research on Prospect Theory, we had brought advisory standards to a new level. Now we bring the customer closer to the adviser by using the 360-HappiU® as the reference system, like how we have come to rely on the thermometer as the source of truth.”