Contino and Stripe: 3 Fresh Takes on Why You Should Modernise Your Digital Insurance Platform
As part of the Stripe Partner Ecosystem, Contino can help businesses get up and running with Stripe’s fully integrated suite of payments and financial services solutions quickly and easily.
In this infographic, we highlight three unique takes on why it's time to fully embrace a native digital insurance platform for your business and customers:
1. Create cohesive and frictionless online customer journeys
A smooth customer journey can make all the difference when it comes to overall customer satisfaction. By leveraging third party products like Stripe to simplify your checkout process, you can take advantage of a myriad of modern payment methods such as Apple / Google pay—a great way to increase customer retention.
Using such plug-and-play functionality allows your core development and business teams to spend most of their effort on other modernisation efforts. To choose the correct project to implement frictionless payments, Contino has developed our Lighthouse approach for a culture of iterative experimentation, fast feedback and scaling transformation.
2. Gain actionable insights from online customer behaviour
In the UK, malicious fraudulent transactions currently cost the insurance industry over £100m per year. At the heart of a new digital platform should be a strategy on how best to leverage data—either generated by your customers, captured by external systems, or curated by internal teams.
A truly modern digital platform should treat data as its most valuable asset. With Contino’s experience of working with large heavily regulated enterprise organisations, we can be your trusted advisor in designing data platforms to support your analytical and operational data decision making abilities. By leveraging machine learning tools like “Radar For Fraud Teams” from Stripe, you are empowered to define your risk profile for transactions and feed this data into your wider data platform—to help improve visibility and insight into customer buying habits.
3. Automate everything and reduce manual errors
Distributing funds to different business areas, franchises and divisions is often a manual process. When we consider distributing funds internationally, businesses also have to consider domestic tax regulation and transaction fees to bank accounts. This further complicates reconciliation and distribution flows—adding the real chance of delays and errors into your processes.
Using Stripe’s native support for cross-regional payouts, insurers can now automatically flow funds to the right business units across your organisation and put an end to the manual reconciliation processes.
Contino is proud to be a partner of Stripe with a number of certified architects and developers. If you'd like help integrating Stripe into your digital platform please feel free to get in touch!
Stripe is a financial infrastructure platform for businesses. Millions of companies—from the world’s largest enterprises to the most ambitious startups—use Stripe to accept payments, grow their revenue, and accelerate new business opportunities. Headquartered in San Francisco and Dublin, the company aims to increase the GDP of the internet.