Insurance Business Applications (IBA) and Qantev announce strategic partnership
IBA and Qantev are pleased to announce they have entered into a global strategic partnership, combining IBA’s leading cloud-native core insurance platform, IBSuite, with Qantev’s Artificial Intelligence (AI) platform. This partnership allows insurers to easily integrate AI into their claims processes, enable efficient cost containment, and offer optimal quality of service to their customers.
Copenhagen and Paris – Monday, September 13th, 2021 – IBA and Qantev are pleased to announce they have entered into a global strategic partnership, combining IBA’s leading cloud-native core insurance platform, IBSuite, with Qantev’s Artificial Intelligence (AI) platform. This partnership allows insurers to easily integrate AI into their claims processes, enable efficient cost containment, and offer optimal quality of service to their customers.
Artificial Intelligence is playing an increasingly critical role in business, and the insurance industry is no exception. However, when trying to adopt AI as part of their existing processes, insurers struggle with data quality issues as much as they do with integrating the AI models into their legacy platform’s processes. The IBA-Qantev partnership brings the power of a cloud-based digital insurance platform and AI together, to make it easy for insurers to enable next-gen technology services and remain on the competitive forefront.
“IBSuite is a proven, next-generation end-to-end cloud insurance platform focused on helping insurers and MGAs digitalize and automate their operations, becoming more efficient and agile. IBSuite can be the backbone for the entire insurance operation or replace critical components, such as Claims Management.” said Soeren Degn Jahns, IBA’s CTO. “Insurers have an immediate need to liberate themselves from the rigid and inefficient legacy technology and IBSuite can help them do exactly that, whether they want to completely replace their core system, a key process, or launch a greenfield initiative. Now, our partnership with Qantev allows any insurer to easily enable AI into their processes”.
“By integrating IBSuite and Qantev, we can deliver plug-and-play AI solutions in no time. Our models can help insurers make better decisions faster, and at the same time, improve their customers’ experience and control their operating costs. We have integrated our Smart Orientation service with IBSuite, allowing insurers to deal with one of the biggest challenges in the motor insurance industry: routing customers to the most suitable bodyshops, taking into account multiple variables and large amounts of data. The integration was very simple and fast, thanks to IBSuite’s powerful integration layer. AI models for different product lines and needs can be up and running and integrated into any existing process in just weeks.” said Hadrien De March, Qantev’s CTO.
Making Qantev’s machine-learning and AI models available in IBSuite’s proven and cloud-native SaaS platform and allowing insurers to integrate them into their existing ecosystems, represents an evolution in the way businesses address the needs of the market.
Karina Buch, Chief Commercial Officer, IBA
Jiayi Zhang, Strategy & Partnerships, Qantev
About Insurance Business Applications (IBA)
IBA provides a proven end-to-end core insurance platform (IBSuite) that covers the entire lifecycle of insurance, from quote to bind, policy administration, billing and efficient claims handling, all backed by an API-first integration layer. IBSuite takes care of the insurers immediate need to liberate themselves from the rigid and inefficient legacy technology, avoid building technical debt, stay current and compliant and be able to launch new products and business models fast in a platform that is multi-language, multi-currency and multi-country by design.
Qantev is an international enterprise software company focusing on helping insurers operations in their decision-making & automation processes to help them deliver the best quality of service to their customers while controlling their costs. It provides a secure, cloud based and data driven platform that accelerates the transformation of the insurance industry.
Qantev’s cutting edge proprietary AI algorithms are the results of years of R&D lead by the best researchers in their domain. Firstly applied to the health insurance market, the « Smart orientation » solution for motor insurance is a highly personalised service that guides the customer to the best bodyshop for his situation.