According to reports, the solution empowers insurers to enhance multi-channel distribution and improve operational efficiency.
Established in 1996, IS2 is an independent, cloud-native platform that has been delivering innovative digital solutions for insurers, insurtechs, MGAs, and brokers for nearly three decades. Known for its continual investment in research and development, IS2 is one of the few platforms to offer hosted pricing for niche schemes, cementing its position as a leader in digital transformation within the insurance industry.
While API-driven hosted pricing has been common in personal lines for some time, this launch marks the first widespread implementation in the commercial insurance schemes market. The new solution enables insurers and MGAs to manage products seamlessly across multiple channels, with real-time pricing and rate adjustments. Insurers can build products once and tailor them for different distribution routes, significantly reducing time to market and costs.
The launch comes after IS2 reported 40% growth in H1 2024, following heavy investment in enhancing digital distribution capabilities for insurers. The company has already successfully implemented hosted pricing for selected commercial schemes as part of broader digital strategies. With this new “plug and play” solution, IS2 is making the technology widely available to all insurers and MGAs.
Simon Pritchard, Managing Director of IS2, said: “This solution is critical for commercial lines insurance providers. It allows them to activate multiple distribution channels quickly, adapt to market demands, and streamline their processes. With a centralised point for pricing and data, insurers can offer full-cycle digital customer journeys across all channels, eliminating the need for multiple pricing instances.”
