Unlocking Insurance as a Service: What It Means for 2025

Insurance as a service means offering insurance products and services through online platforms, making it easy for customers to buy, manage, and claim policies digitally.

Instead of visiting an agent or a physical office, customers can handle everything from their phone or computer. This approach fits into the bigger picture of technology changing how traditional businesses work. It removes layers of complexity and speeds up processes. For companies, it means less paperwork and fewer manual tasks.

For customers, it means convenience and often lower costs.

Here are some simple examples of insurance as a service in action:

• Buying car insurance in minutes via an app

• Submitting a claim with just a photo on your phone

• Getting personalized insurance quotes instantly

On a deeper level, insurance as a service relies heavily on cloud computing, APIs, and automation to connect different parts of the insurance process. Providers can update policies, verify information, and manage claims faster and more accurately. This model also supports pay-as-you-go or usage-based insurance, which changes pricing to match actual risk or customer behavior instead of fixed premiums.

Some of the advanced features making this possible include:

1. Real-time data integration from various sources

2. Automated underwriting using AI tools

3. Flexible policy management through APIs

Insurance as a service connects seamlessly with Strada by automating calls, workflows, and agent engagement. This integration helps insurance companies operate more efficiently with real-time updates and reduces human error, making the entire insurance experience smoother for everyone involved.