When, in 2016, a group of friends sat down to discuss how to align the digital world with the insurance world to the benefit of insurers and their customers, the answer was not to try and retrofit into legacy solutions but to start again with a completely fresh approach. The digital world had moved on too far and was accelerating too fast for most of the ageing technologies in the sector. A fresh approach was clearly needed. Out of that meeting, Iotatech was born.
From the outset, the Iotatech mission was to be disruptive by challenging the traditional technology model for insurers and related businesses. No more large capital expenditure, no more monolithic applications, no more dragged out implementations, no more not meeting the needs of the business and no more clumsy retrofitting digital solutions.
The Iotatech vision is for technology that is cloud-native (not merely putting legacy systems in the cloud), pay-per-use SaaS (not prohibiting any sized company from using modern technology), built using microservices and OpenAPI (not trying to modularise legacy solutions or limiting the integration possibilities) and delivers functionality quickly that is managed by the user community (not dependant on IT departments).
The Iotatech Platform will help reshape the world of insurance by understanding and taking advantage of the wealth of data and the technology channels through which that data is collected and provided. The architecture that underpins the Iotatech Platform is designed not just for the modern world of today, but for whatever the future may hold.
The combined strength of the Iotatech Leadership Team, the Strategic Advisory Council and our Strategic Partners, gives us the insight and access we need to be able to positively disrupt the market.