Open is an Australian insurtech founded in 2016 that delivers embedded insurance solutions across car, home, and travel products. With operations in Australia, New Zealand, and the UK, Open partners with fast-growing brands to provide seamless digital insurance experiences through their proprietary platform.
www.beopen.com“Swallow’s platform allowed us to enter the UK market rapidly while keeping our pricing model flexible and adaptable to different tax and regulatory environments”
Open Insurance relies on specialised underwriters for each of their products. When launching in the UK, Open needed to quickly onboard new underwriters, and launch a set of new insurance products on their platform. This involved hosting the pricing for the new products and uplifting overall pricing capability so that it could compete effectively in the highly price-competitive UK market.
Open needed a platform that could deliver all of this, and be easily integrated into their current platform.
Swallow provided Open with a scalable, self-serve pricing platform that allowed them to implement product-specific pricing and underwriting rules seamlessly. The platform's adaptability enabled Open to split out complex retail and wholesale pricing models, handle endorsements and renewals pricing, and adjust for local tax and regulatory requirements. All without significant Engineering or technical involvement from their side.
This enabled Open to launch new products in a new geography from scratch within 12 weeks.
Fully tested pricing iteration and deployment within minutes
Significant improvements in upfront development costs and maintenance overhead
Uplifted pricing capability, allowing Open to experiment with pricing within minutes
Supports expansion across multiple regions and product lines efficiently
Holistic and understandable logs which reduce the time to diagnose pricing questions from hours to minutes
