Two innovative insurtech have forged a strategic partnership to bring embedded insurance to the masses. Stere, a platform for (re)insurance capacity via its digital marketplace for delegated authority, or via its single API to access hundreds of insurance products, and Inaza, a connected data platform offering insights, innovation, and products for insurers, are now working together.
Together, the partnership will help fleets, shared mobility companies, OEMs, and affinity groups to embed insurance as a part of their current offering. While Inaza provides the connected data platform, Stere sources capacity from insurers and reinsurers through its digital platform. All distribution partners can source capacity and access alternative insurers on an ongoing basis to ensure their business is uninterrupted.
Aravind Ravi, CEO of Inaza, spoke about the newfound partnership: "Inaza's goal is to build new avenues of growth for motor insurers. Embedding insurance within new mobility products is key to this goal. Our partnership with Stere is helping us unlock this potential for several insurers while creating access to connected insurance products for the new mobility ecosystem."
Inaza is a connected data platform that collects data from several sources and uses advanced AI and ML techniques to process data in real-time, predicting adverse events and better understanding risk.
Inaza's proprietary risk engine helps you create risk profiles using a combination of telematics, environmental data, behavioral data, and other sources of data. These real-time risk profiles can be used to reward good behavior amongst drivers.
Inaza's plug-and-play components empower insurers to integrate with their existing solutions and deploy new products swiftly while Inaza does the heavy lifting behind the scenes. The platform is a one-stop solution for building and managing digital motor insurance products.
Stere creates APIs for any insurance product and offers them to companies embedding insurance, MGAs, brokers, and affinity groups through the Stere API. Those seeking delegated authority can access the Stere Capacity platform to find re/insurance capacity, and let Stere’s algorithm anonymously search for additional capacity partners on an ongoing basis; while creating significant growth opportunities for insurers, reinsurers, and reinsurance brokers.