Developing Insurance Software Takes Years

‍Originating from Schouten Zekerheid, Maia operates as an independent insurtech in the B2B insurance market, aiming for an in-house solution without technical constraints. The startup wanted to approach the traditional B2B insurance market in a completely new and unique way and needed a platform built from the ground up using the latest technologies. Without Novulo, this unconventional approach with a custom-built platform would have resulted in a multi-year development process.

A Streamlined Insurance Process

‍Maia’s ambition comes together in a twofold approach: a streamlined insurance process and technical independence. This is achieved by limiting the risk profile to only essential questions, allowing the policy issuance process and insurance administration to take place fully online. In parallel, Maia aims to avoid costly custom development and vendor limitations.

Proven approach

‍Initially, Maia was facing a lead time of three years, but gained a new perspective on acceleration through the reuse of components that had already been proven in practice. Thanks to Novulo’s application composition platform, the startup was able to assemble large parts of the required backend such as policy management, delegated authority administration, and billing from the store and integrate them into the application. This resulted in a tailor-made application within just a few months. That cleared the way for a rapid market launch and expansion of the offering.

“As a startup, we wanted to build insurance software independently. Novulo gave us that freedom and reduced the development time from 3 years to 4 months by reusing existing components.” - David Wesdijk

Rapid innovation through reuse

‍By reusing existing functionalities, Maia was able to bring the first insurance proposition for NVM real estate agents live within four months. Together with insurers, the purchasing process was streamlined to five questions, and the premium was reduced by 20%. Using the same approach, the launch of at least six new propositions for business clients in various sectors is planned in the near future.

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By reusing proven functionality while still being able to customize it at every level with low-code, Maia increases speed while ensuring flexibility. “We drastically shorten the time-to-market for new propositions,” says David Wesdijk, founder of Maia. “It continues to surprise me and the frontend developers as well how quickly new functionality can be realized.”

Lowering the barrier to software delivery

‍By embracing citizen development, Maia has changed the playing field. The company has made software development accessible to a broader audience within the organization, leading to faster innovation, streamlined processes, and broad internal support. As the organization sees that Maia develops new propositions quickly while simultaneously rationalizing the entire underlying business process, support will continue to grow, creating a snowball effect. The days of searching for specialized developers are over, while the potential for innovation has increased significantly.

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‍This Maia example shows that Novulo’s application composition platform offers a unique proposition for insurance companies seeking to modernize their insurance software or replace legacy systems and thereby shape disruption themselves. The Novulo platform and ecosystem give the insurance industry the tools to independently take control of the software behind the insurance process, without reliance on software vendors.

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