Limelight Health’s platform involves everything that happens from when an employer says they are going to get insurance for their employees through the moment the employees choose their health insurance plan. This involves providing accurate information about plans available and ensuring they are quoted properly. The aim of the Saas platform is to allow for faster more accurate proposals to be made for employers can make the best choice for offerings for their employees.
As well as insights into being a CTO, Alan Leard also looks at topics shaping insurtech, including predictive analytics, AI, machine learning.
Digital Journal: What are the current trends within the insurance sector?
Alan Leard: These can be summarized as:
a. Infrastructure replacement and the shift to the cloud.
b. Shift from cloud-hosted on-premise products to be managed, cloud-native SaaS products.
c. Core technology upgrades to modern languages (for example, getting away from COBOL systems which are increasingly difficult to find support talent).
d. Reusability of data including transactional and product definitions.
DJ: To what degree are startup insurance firms challenging the big firms?
Leard: SaaS offerings and API first strategies vs homegrown and on-premise solutions. Greenfield carriers and greenfield products mean less technical debt to overcome when implementing, and they can get products to market faster. Startup carriers who have a fully modern technology ecosystems means easier and faster integrations. Systems that can all interface with APIs and message hubs to integrate faster than file feeds, batch processes, cumbersome data translations and ETLs, etc.
DJ: What is the appeal of digital insurance services to consumers?
Leard:Digital insurance offers faster, broader and potentially less expensive insurance options with less data provided and definitely less data redundancy. More of the right information at the right time.
DJ: What services does Limelight Health offer?
Leard:Limelight Health offers RFP Intake, Rating, Quoting, Underwriting and Proposal services for the carriers to accurately and efficiently serve the group insurance market.
DJ: Which types of companies do you work with?
Limelight Health works with major insurance carriers across North America. We offer an innovative SaaS platform that is purely focused on the group ancillary space solving legacy issues with an API-first approach. Our team comes from the industry and deeply understands the brokers and employers that the carriers are serving with our platform. We focus on solving the root problems in a highly efficient and automated way that creates a streamlined and compelling experience for our users.
