tech11: Modernizing legacy systems with fast insurance product design and onboarding of new distribution partners
Many insurers are dealing with legacy backend systems, which are often the main barrier for insurers to quickly adapt to rapidly changing client behaviour and expectations. Besides reaching operational excellence, it is key for insurers to open up their existing system landscapes to become part of growing ecosystems.
tech11 can help with its end-to-end digital P&C Core Insurance Platform, designed for the insurance industry in Europe. There are two main reasons to adopt the platform:
- Legacy replacement: the modernization of existing legacy systems
- Digital Speedboat: end-to-end policy & claims management for fast development of new insurance products and fast onboarding of new digital distribution channels and partners
How it works
The tech11 Insurance Platform has a technology stack that is inspired by architectures from Netflix, Uber and Twitter, mixed with enterprise technology to integrate services via REST APIs. The Platform is designed as a lightweight microservices architecture, which makes it perfect to integrate and easy to scale. The platform can be run on-premise or fully cloud-based. The platform is already being used by multiple insurers in Germany, and also in other European countries – mainly in a SaaS model.
Why we chose tech11 for ITC DIA Europe, Barcelona 2023
Core Insurance Systems are key for any successful digital transformation and crucial for the performance and future viability of every insurer. tech11 provides a no code/low code, comprehensive, but modular end-to-end platform, highly standardized, but flexible in adapting to individual processes, reducing time-to-market to days or weeks.
Pierre Dubosq, Co-Founder & Managing Director of tech11, will take the stage together with Manuel Schlief, Head of IT at Pantaenius, Europe’s leading specialist for the yacht- and boat insurance. The existing legacy system can no longer keep up with the complexity and speed of Pantaenius’ business. By integrating new services and technologies quickly and purposefully and making them usable for the benefit of Pantaenius’ customers and partners, tech11 successfully helps Pantaenius implement systems in an international environment.
Who is tech11?
tech 11 was founded in April 2018 by Pierre Dubosq and Matthias Reining. Headquartered in Germany, tech11 is expanding their business to several other European countries. . The company is backed financially by TA Associates and employs over 90 people.
“At tech11 we are disrupting the complex world of core insurance systems, being today´s key barrier for insurers to adapt in a rapidly changing digital world.”Pierre Dubosq