With our Accelerator Program, we offer startups a unique opportunity to tap into and further develop the German insurance market – an opportunity that Insaas also knew how to seize. Together with rhion.digital, a company of the Rheinland insurance group, they were able to realize an AI-based customer insights platform for analyzing and optimizing the rhion network of insurance brokers. The result is an interactive dashboard that aggregates and analyzes all data in real time to improve insurance sales. An approach that also impressed the expert jury of the InsurLab Germany Collaboration Champion Competition and meant second place as “Collaboration Champion 2022”.
The initial situation
rhion.digital, the broker:inside insurer of the RheinLand Versicherungsgruppe, is constantly on the lookout for new broker connections whose profile optimally fits the orientation of the brand. Until now, only structured data and texts as well as classic key figures were available for the analysis and evaluation of the network. However, these did not provide the qualitative insights needed to expand the existing network in a targeted manner. The available data could only be prepared in a rudimentary way for rhion.digital for this purpose and was often not suitable as an additional management tool.
This is where Insaas.ai came into play. The team of the Munich-based startup led by founder Dr. Korbinian Spann quickly recognized the potential for use in broker sales, developed an initial concept for a technical solution based on the joint definition of a possible use case, and had already presented this to RheinLand Versicherungsgruppe in an initial workshop. Insaas’ AI-guided approach involves collecting a large number of texts – such as forum and blog posts, ratings and reviews – from the Internet and condensing them into a grid based on defined criteria.
Together with rhion.digital, Insaas defined in a first step which functionalities the Insights dashboard must have and set the corresponding parameters. On this basis, a broker map was jointly developed: From texts about brokers located in Germany, their potential analysis is enabled based on defined criteria such as service, digital fitness, sustainability, friendliness, etc. and enriched with socio-demographic data. The result is a completely new perspective on various dimensions of broker and product performance.
“Insaas has an incredible pioneering spirit to open up new use cases from existing technical resources and to constantly develop them further. Korbinian and Markus are on fire for what they do and take everyone else along for the ride. The result has exceeded our expectations.”,
Sabine Sick Nielsen, Key Account Manager Digital at rhion.digital
Google Maps is a tool that almost everyone knows and uses. Insaas supplements this virtual map in its approach with verified data from various sources on brokers and agents, so that it is possible to see at a glance where sales optimization potentials lie. With the help of filters of different granularity (federal state, district code, etc.), optimization potentials can also be delimited by location.
Although there are already lists of brokers (e.g., Broker Radar) and CRM systems, there is no tool that uses AI and statistics, among other things, to open up the broker market at a glance and combines a wide variety of data sources for this purpose. Supplemented, for example, by data from the Federal Statistical Office, which can be filtered with a high degree of granularity, the result is a unique, multi-layered and continuously updated insight into the current stock of brokers and agents.
The history and reasons for the cooperation
The contact between Insaas and Rheinland Versicherung came about during the InsurLab Germany Accelerator Batch#22. Jochen Fischer (Product Marketing and Communication Officer) and Alina Eikermann (Innovation Products & Services Officer) were convinced by the potential of the idea and the Insaas team. Together with the sales colleagues of rhion.digital, the approach and the use case were specified in terms of practical application. From the initial workshop to the handover of the broker map, various milestones were defined over a period of six months. The project was not only completed within the agreed time frame, but also included additional features beyond the intended scope upon completion.
“Jochen and Alina always supported us during the implementation and gave us feedback at any time. The InsurLab Germany team also actively supported us. In addition, our participation in insureNXT also helped to deepen the positive contact with the Rheinland team.”
Dr. Korbinian Spann, Founder and CEO of Insaas
rhion.digital will use the jointly developed solution in its sales department and thus specifically improve its own network of brokers, for example with regard to the digital competence of brokers. New brokers will be easier to find and recruit in the future. Overall, this will make the market more transparent. The selection of products with regard to reach can also be optimized due to the enrichment of the data by the geostatistical perspective.
Together, the solution will also be offered to other insurance companies in the future. The company also plans to work with broker organizations to further improve data quality – in the long term, this will be a tool for improving the quality of brokers in general.