Technology & Innovation Awards finalist 2020 Q&A: Balkerne helps insurers and captives prevent losses

Here we feature Balkerne’s entry into Insurance Start-up - B2B

Balkerne entered its proposition as an insurance start-up B2B

What key achievement did your entry highlight?

Balkerne has been working with insurers and captives to prevent losses from manmade and natural events, 2020 has been a year of disruptive events such as the Storms in Q1 and Covid-19.

During storms Ciara and Dennis, the insured retailer was not only able to utilise the live alerting functionality for flood and extreme weather to deploy relevant flood mitigation for key sites across the country but was also continuously supported by Balkerne team with additional data analysis and advisory service.

Since March, Balkerne’s technology has been utilised to identify key hotspots of Covid-19 cases in order to improve store resilience.

Through tailored pre-emptive action, the insured retailer was able to protect its customers, staff and assets, ensuring the disruption and financial costs were minimal

Can you share data or testimonials to back up your bid to win?

“The team have developed a unique, real-time application for our property estate, which communicates risk in a clear contextual format and allows appropriate action to be taken in a timely and localised manner,” division operations manager at FTSE100 Captive.

“I would recommend Balkerne to anyone who is thinking about using data insights to improve both their customer experience and loss ratios. I found Harish and Jonathan to be extremely knowledgeable and professional, it was a pleasure to work with them both,” Nicholas Hartley, head of business improvement and innovation at Ecclesiastical Insurance Ltd

What sets your firm apart from the other shortlisted contenders?

Current B2B insurtechs have been focusing on speeding up and improving claims experience. For insurance to become affordable in the long term, Balkerne’s technology will be there to nudge behavioural changes to reduce losses in the first place, minimising the pain of disruption and uninsured costs for customers whilst improving the profitability for insurers.

How will you celebrate if you are the victor?

The team is currently working in a fully remote environment - we will celebrate with a socially distanced remote party.

Read more…Test case judgment could be ’the difference between life and death for the covid businessses

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