Case Studies
The acquisition of insurance intermediary Equidad in Aruba gives insurer ENNIA Aruba a unique opportunity to create a new online environment for policyholders using Novulo’s technology as the backbone. Read how ENNIA Aruba approached this.
ENNIA Aruba aims to further grow as the leading insurance company in Aruba and other Caribbean countries by introducing an innovative offering for non-life insurance. The acquisition of the intermediary Equidad in Aruba formed the foundation for a new digital strategy and a fully online proposition. The acquired insurance broker had limited software solutions and struggled with staffing shortages, which simplified the need for a comprehensive approach.
To seize this unique opportunity to build a digital broker from the ground up, ENNIA Aruba’s management conducted a tour of the insurance landscape in the Netherlands. The company engaged with insurers, brokers, developers, and vendors in search of a new approach—one where the user experience would be central. The task was to create a new online customer environment with a modern and appealing design. In addition, this environment needed to be flexible enough to implement changes smoothly and to communicate seamlessly with other non-Dutch systems.
Future-proofing was also an important criterion. “For this investment, we wanted to be able to take several steps forward,” says Henry van den Berg, Director at ENNIA Aruba. “You don’t want to hear that it will take several years to make a platform future-proof, ending with a conversion where all users have to switch to a new system at the same time. From a market consultation, we concluded that there was a good fit with the Novulo platform and that we wanted to invest time in further exploring this proposition.”
“For policyholders, it guarantees the best deal, provides access to information via a personal dossier, and facilitates the uploading of external policies.” - Henry van den Berg
Van den Berg explains why the choice fell on Novulo’s insurance software: “It’s a platform with a lot of existing functionality for building the comprehensive insurance portfolio that an insurance broker needs. The software covers the mid- and back office and offers comparison features as well as cross- and upsell opportunities. The platform also enables online policy issuance and direct online payments. For policyholders, it guarantees the best deal, provides access to information via a personal dossier, and facilitates the uploading of external policies.” It provides Equidad whose new brand and name will be launched soon with a future-proof and flexible platform to realize its business plans. Van den Berg adds: “The decision to choose Novulo was driven not only by the technology but also by the personal connection with the people behind the company and the ability, as a customer, to engage in meaningful, high-level discussions.”
Novulo partner Brickin who is responsible for project delivery together with Novulo will deliver the MVP soon, seven months after the start. Over nine sprints, a relatively small project team worked on the application. BiT Innovation handled the development of the concept and market strategy, while Indicia developed the frontend, which is integrated with the application. “This is a smooth realization, especially when you consider that the team is geographically spread out,” concludes Van den Berg. “The application, the composable platform with its store and development tools, and the underlying cloud hosting are all easy to manage even without in-house programmers. Because, just like in the Netherlands, these specialists are scarce here as well.”
In the next phase of the implementation, Equidad will expand the application with additional insurance providers and products. This will allow the company to act as an insurance broker by offering not only its own products but also third-party insurance products and delegated authorities online. In addition, support will be added for the local iDEAL variant Sentoo and for verifying online identities via KYC functionality.
This project coincides with a year of expansion for Novulo in the insurance market, during which the company successfully provided multiple insurance firms with new software and entered into agreements with leading partners in the insurance sector. “There is a real match in our vision of digitizing the non-life insurance value chain and the opportunities that creates to give insurance in the Caribbean a new, digital face,” says Novulo founder Frank Wille. “In addition, this project has a special character in every respect. You can see the new platform growing as a brand. And the software comes together smoothly, even though the project team is working thousands of kilometers apart.”
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