InsurTech Spotlight: Red Planet Software

Red Planet Software

Company: Red Planet Software

Website: www.redplanetsoftware.com

Business Category: A technology provider of InsurTech tools to insurance practitioners

Maturity Status: Mature (more than 3 years since product went into production)

Product or Service: Payment platform to manage intermediated insurance payments

Area: Property & Casualty Insurance

We develop and manage cloud-based payment solutions software built specifically to support the insurance intermediary in managing their client payment experience. We allow intermediaries to “own” more of their client experience.

What makes us an InsurTech:

Utilizing cloud delivery models we develop, distribute and manage software dedicated to one thing – helping intermediaries manage their clients payment process. To do this we have developed solutions that integrate directly with the broker management system as well as payment processors such as banks and credit card processors. Our software supports realtime messaging (SMS, email) to the intermediary and their clients as well as the insureds own online self serve payment tools – including establishing monthly billing. Allowing a complete payment experience that begins and ends in the BMS.

Major features & technology used:

Leveraging the basis of our cloud solutions, we have developed web service based integrations to a range of 3rd parties allowing a seamless flow of data and customer experience across the insurance and payment eco-system. In addition to consuming 3rd party APIs, we have developed our own API allowing others to “plug-in” to our model and for them to develop their own web-services based client-facing applications. We apply web services models from the likes of Twilio to support real-time messaging.

About Red Planet Software

Red Planet Software applications manage around $6bn of intermediated insurance payments per annum across our various markets. With the vast majority of those payments executed via direct connections from (and back to) the BMS linked to white-labelled client facing online payment tools. Our solutions make the payment process seamless for both the insurance intermediary and their clients.

We allow intermediaries to “own” more of their client experience.

For more information, please visit www.redplanetsoftware.com.

Source: Red Planet Software

→ back to the InsurTech Spotlight index