ADVERTORIAL
JENNINGS BACKS NEW INSURANCE TECH COMPANY M
osaic Enterprises Limited is a New Zealand-owned Insuretech company. It provides digital tools for the financial sector to grow strong customer relationships through an online presence. Some of these products are unique in the world and will change the way insurers manage their businesses. Many companies in the financial sector are unable to offer digital solutions for their customers due to back end legacy systems and capital is utilised in other areas rather than meeting the modern needs of customers in an electronic age. Mosaic has recognised this and has developed three tools that the financial sector can use to add value to customers. The first is a modern online portal for the sale of financial products. Initially it will be targeted at life, health and travel insurance. Then it can be extended to cover fire and general, pet insurance, mortgages and investment products like KiwiSaver.
The portal is backed up by a comprehensive CRM and claims system. It uniquely also provides the consumer with ownership and worldwide access to their essential medical data. This significantly reduces the time and cost to the customer and insurer in times of a; medical emergency, travel claim and a medical claim. The second is a digital lockbox to secure critical documents for the customer called Heartbeat. This is where the medical records, policy documents, passports etc can be stored. It can be accessed from any mobile device or computer anywhere in the world. Critically important if anything happens to you whilst travelling overseas. This unique tool will be highly valued by customers and will be a great retention tool. The third innovation is the data analytics. Extensive non-personalised medical data collected can be used to assess the medical risk profile of the customer. Suggestions will be put into the lockbox on improving their health profile. This data can be updated every
time a medical visit is made, claims made or from wearable devices. Mosaic has put together a strong board with Murray Lilley the previous founder of Konnect, Dr Geoffery Sayer an epidemiologist, expert at analysing medical data and Milton Jennings, well known in the life insurance market. All directors having a financial interest in Mosaic. The insurance portal has been well tested in the life insurance market during 2016. Travel insurance has just been added and the Heartbeat lockbox is operational. Mosaic will be selective in the companies they will deal with in New Zealand. This is the training ground for expanding overseas where the real opportunity lies. The Australian branch is operational and will start trading early 2017. The real growth will come from up in Asia, where a lot of interest has already been expressed. The company is currently doing a capital raise through Greg Anderson at Northington Partners to allow it to expand into Australia and Asia.
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