Verum

InsurTech

Background

Verum was founded to enable SMEs to assess their risk profiles and select the best insurance products for each individual situation and need. Seamless, digital, end-to-end service for SME clients in Singapore and beyond, with an advisory approach to make the insurance process easier, more transparent and efficient. From purchase to claims and after sales.

Skills

Angular + Ionic/ Capacitor​

Springboot + Kotlin​

Services 

  • Industry sector: InsurTech
  • Services: Product Discovery​, Design Services​, Software Development​, Infrastructure
  • Website: https://app.getverum.com​

Our contribution to Verum

What We Did

Verum’s founder approached Elemental to help realise the vision she had for a digital solution to support the digitally underserved SME market.​

With Verum’s understanding and insights into the broker market, the risk needs of the SMEs and with established connections to insurance carriers coupled with Elemental’s understanding of how to conceptualise, design and deliver digital solutions, we have together developed the Verum platform – a recommendations engine for the best suited products for each SME’s individual needs.​

Verum stands out by understanding the needs of each SME individually and recommending the best suited product. Furthermore, the whole process is online, from risk assessment to product sales to payment, claims, amendments and renewal.​

Elemental designed, architected and built Verum’s end to end platform, integrated with local payment solutions, government agencies and insurance carriers for automated transactions.​

Through Elemental’s modular and extendable design, the recommendation engine, product engine, payment integration and carrier API layer can be easily expanded with additional products from different carriers. ​

The integrations with the carriers are structured along an API driven integration layer to facilitate future direct integrations with more carriers, independent of their API capabilities.

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