Denmark, you’re welcome.
The Danish tech company Undo Forsikring is the response to the younger generations’ (missing) relationship with insurance. Rethinking the insurance journey from start to finish and creating the best possible experience is the reason for Undo’s existence. Now, Undo will partner with Upptec – and together offer the fastest claims journey whenever you need to use it.
Changing the way young people experience insurance
Young insurance customers were expected to become the dominant segment by 2020. However, 40% of 21-35-year-olds in Denmark do not have insurance. That means they are completely without protection if an accident occurs. Hence, Undo’s mission is to reinvent insurance by making it simple, personalized, and purely mobile.
Undo in brief
Undo is an insurance agency in Denmark, launched in 2018. Backed up by one of the largest Nordic insurance companies Tryg, they are targeting the younger generation of insurance buyers with a tech-company approach. They are the first mobile-only insurer in Denmark and have a goal to have all customer-facing interactions through the modern and intuitive app. The entire process, from purchasing an insurance product to making a claim can be completed in a few minutes through the app. an app that in addition won the prestigious Nordic Fintech Design Award in 2019.
“We are extremely happy and proud to partner with Upptec as the first insurance provider in Denmark. Implementation of Upptec Open-link and Connect has increased our efficiency in our claims handling and takes our customer experience to next level. We are excited to see what our partnership will develop into in the future regarding automate claims handling.”Camilla Morell, Head of Claims at Undo
Automation is key for both Undo and Upptec
Automation is putting your business into a formula in a language computers understand and letting them do the work. Thanks to automation, Undo spends less money on processing claims, setting up clients, preparing customer service, etc. per policy they make. That means a proportionality larger amount of revenue goes to covering claims. Simple, right? Automation is thus a key to delivering more insurance at lower prices, without compromising on the experience customers have.
“We are proud to partner with Undo and to push the boundaries of mobile claims experiences together. Undo has a unique position in Denmark and has fully understood the needs of the next generation policyholders. I’m personally excited to see the advancements our joint efforts will lead to.”Andreas Martin CEO at Upptec.
Undo is becoming even faster with Upptec
Undo are rethinking and improving every part of the insurance experience. Now, the young tech-company who “just happens to sell insurance through an app” has partnered up with the Malmö-based insurtech company Upptec to deliver an even smoother customer experience. Together with Upptec, Undo will automate the claims handling that will be fully integrated within the Undo app.
The solution Upptec will deliver is close to plug-and-play solution that requires little to almost no technical customizations or development. The solution also called “Open-Link” provides the policyholder automatically with a secured link where the claimant can file the claim and all details related to the claim. From there the contents are automatically and instantly handled without any human touch. Open-Link revolutionizes the claims handling process by providing a simple, user-friendly solution to expedite First-Call-Resolution for insurance claims. Accessible from any location, any device and at any time – making it a perfect fit for Undo.
“This is a historical partnership for us since UNDO is the first insurance provider in Denmark that uses Upptec’s solutions to handle claims. I’m truly impressed by how fast Undo moved from our initial meeting to being ready to integrate Open-Link. Together, we’ve ensured that our solution is finely tuned for the Danish market, with valuable insights from Undo regarding the Danish insurance landscape. I look forward to our collaboration in delivering an automated, digital, and innovative claims handling.”– Niklas Lundberg, Commercial Director Nordics at Upptec.
The Future of Undo
In May 2018, Undo was launched in the Danish market with a product that has grown rapidly since then. An attractive insurance product for the younger generation where 90% of the clients are between 20 and 35 years old. Thanks to Undo’s innovative concept, Undo has been awarded several times and is currently growing significantly faster than other insurers in Denmark.