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Insurance as a service

4 minutes, 26 seconds read

The past years have seen strong traction in “as a Service” business model across several industries. The insurance industry is no different. 

The idea behind XaaS, or “as a Service” is that one can buy services from vendors on a subscription-basis – depending on their needs and requirements. It is especially beneficial to reduce time to benefit, installation costs, ensure scalability and swift upgrades. XaaS often corresponds to the availability of service on the cloud.

[Read More: Everything as a Service]

Now, 

What is Insurance as a Service?

Insurance as a Service implies that individuals or companies can buy pre-built elements of Insurance services on subscription-basis as per their needs and requirements.

How is Insurance-as-a-Service different from Sandbox?

The Sandbox approach emphasizes on experimenting and learning before finally adopting technology or systems to reduce the impact of failure. Whereas Insurance as a Service is a platform built after testing done on a wide user base and is available for users on a subscription basis. Insurers use a sandbox approach to test product-market fit before the actual release. Individuals, corporates, and even insurance companies can benefit from Insurance as a Service.
Details – Sandbox Approach in Insurance

What makes Insurance as a Service model impressive?

Insurance as a Service model requires only a little to no capital expenditure. The service infrastructure, owned by the provider, distributes the cost across users. 

After studying business cases, primarily for incumbent processes, corporates and stakeholders can test a particular service before actually investing in it. Businesses need not overhaul their core functions for integrations. A small-scale trial can be enough to adopt a specific model. In many such ways, Insurance as a service is an excellent option for incumbents, entrepreneurs, and startups.

Prerequisites

XaaS products are, in general, scalable and can be integrated across a variety of platforms without compromising customization and customer experiences. Their infrastructure relies heavily on data, analytics and contextual tools. The fundamental requirements from Insurance as a Service infrastructure are:

1. Customer analytics

Why: Advanced analytical technologies are great to get an insight about customer psychology and implement them to create related products. 

How: NLP-powered chatbots can create a transparent platform for communication with customers and dive into the functional requirements of the product.

[Related:The State of AI Chatbots in Insurance Report]

2. Personalized data

Why: This is a high-time to humanize conversations with customers and establish a real-time personalized relationship.

How: Through the omnichannel approach, it is possible to gather and unify customer data collected from various sources like social media, website, communication with agents, to name some.

3. Contextual tools

Why: To formulate products that can match customer expectations, offer convenience and empathy-based experiences.

How: Leveraging analytics, emotion AI and NLP-based technologies to analyze customers’ intent and perceptions about your brand from multiple sources (e.g. social media, forums, etc.)

How are start-ups developing models for Insurance as a Service?

As per recent InsurTech developments, start-ups are pursuing the following 3 Insurance as a Service model:

1. Full-stack

It involves an end-to-end infrastructure to deploy digital insurance. Here, a technology company can develop a platform for Insurance processes as well as licensed white-label backend. For example, Swiss startup Stonestep provides Micro-insurance as a Service by partnering with mobile network operators, retailers, and vendors who already have an existing distribution presence. 

Working with partners helps them to save infrastructure costs and helps them to make insurance available for even the most remote geographical locations.

[Related: Four New Consumer-centric Business Models in Insurance]

2. Digitizing Process Assistance

Most of the incumbents still rely on legacy systems and processes for underwriting, policy distribution, claims, and agent onboarding. The Insurance-as-a-Service model also assists companies to digitize and channelize insurance operations in a single system and then connect them to their engine. Mantra Labs is a leading provider of InsurTech services and offers plug and play products for digital insurers such as:

Insurance Chatbot: An NLP-powered that works on a self-learning model and is updated from time to time based on the interactions between agents and customers. It brings unparalleled benefits in terms of ROI saving licensing and agent salaries costs.

Paper to digital document parser: Mantra Labs’ Intelligent Character Recognizer allows users to convert and store paper-based or handwritten documents into a digital format. 

Today we need situation-dependent personal risk management products. Insurers can remodel their offerings based on real-time scenarios which will not only urge the customer to invest in the insurance policies but also work towards improving their customers’ health and welfare. For instance, you may not have comprehensive auto insurance. But, how good it will be if your insurer provided theft insurance whenever you enter a theft-prone area? It is a win-win situation for both — the policyholder as well as provider.

3. Digitizing Core Services

Some startups offer their services in a specific field of insurance. For instance, Mantra Labs focuses on customer engagement, new revenue streams, and security features. Some companies like Riskpossible help with underwriting, RightIndem for claims, and others for customer data management and fraud detection. 

Because these companies focus on specific insurance domains they are much more efficient in making Insurance services a winner.

[Related: Visual AI Platform for Insurer Workflows]


Mantra Labs is an InsurTech100 firm specializing in AI-first products and solutions for the new-age digital Insurers. For your specific requirements, please feel free to drop a line at hello@mantralabsglobal.com.


Further Reading:

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Sales Applications Are Disrupting More Than Just Sales

Sales success today isn’t about luck or lofty goals—it’s about having the right tools in your team’s hands, wherever they go. Following our earlier in-depth exploration of sales technology, we will now examine how cutting-edge sales apps are becoming the backbone of modern industries, transforming complex workflows into seamless, growth-driving machines.

From retail to healthcare, logistics to real estate, businesses are deploying sales applications to enhance operational transparency, cut redundant tasks, and build intelligent sales ecosystems. These tools are not only digitizing workflows—they’re driving growth, improving engagement, and redefining how field teams operate.

Lead Ecosystems: Unified visibility across channels

One app. Five workflows. Zero friction.

A leading insurance brand relaunched their app—a sleek, powerful sales companion that’s turning everyday agents into top performers.

No more paperwork. More time to sell.

Here’s what changed:

  • Every visit is tagged, tracked, and followed through. Renewals? Never missed. Leads? Fully visible.
  • Attendance and reimbursements went on autopilot. No more manual logs. No more chasing approvals.
  • New business and renewals are tracked in real time, with accurate forecasting that sales leaders can finally trust.
  • Dashboards are clean, configurable, and useful—insights that move the business, not just report on it.
  • Seamless Integrations. API connectivity with Darwin Box, IMD Master Data, and SSO authentication for a unified experience.

The result? A field team that moves faster, sells better, and works smarter.

Retail: Taking Orders from the Frontline—Smartly

Field sales agents in retail, especially FMCG, used to rely on gut instinct. Now, with intelligent sales applications:

  • AI recommends what to upsell or cross-sell based on previous order patterns
  • Real-time stock availability and credit status are visible in the app
  • Geo-fencing ensures optimized route planning
  • Built-in payment collection modules streamline transaction closure

Healthcare: Structuring Sales with Compliance and Precision

Healthcare leaders don’t need more reports—they need better visibility from the field.  Whether it’s engaging hospital networks, onboarding clinics, or enabling diagnostics at the last mile, everything needs precision, compliance, and clarity. 

Mantra Labs helped a leading healthcare enterprise design a sales app that integrates knowledge, compliance, performance, and recognition, turning frontline agents into informed, aligned, and empowered brand advocates. 

Here’s what it delivers:

  • Role-based onboarding that keeps every level of the field force aligned and accountable
  • Escalation mechanisms are built into the system, driving transparency across commissions and performance reviews
  • A centralized Knowledge Hub featuring healthcare news, service updates, and training modules to keep reps well-informed
  • Recognition modules that celebrate milestones, boost morale, and reinforce a culture of excellence

Now, the field agents aren’t just connected—they’re aligned, upskilled, and accountable.

Real Estate: From Cold Calls to Smart Conversions

For real estate agents, timing and personalization are everything. Sales applications are evolving to include:

  • Virtual site tour integration for remote buyers
  • Mortgage and EMI calculators to increase buyer confidence
  • WhatsApp-based lead capture and nurture sequences
  • CRM integration for inventory updates and automatic scheduling

Logistics: From Chaos to Control in Field Coordination

Field agents in logistics are switching from clipboards to real-time command centers on mobile. Modern sales applications offer:

  • Live delivery status and route deviation alerts
  • Automated dispute reporting and issue resolution tracking
  • Fleet coordination through integrated GPS modules
  • Customer feedback capture and SLA dashboards

What’s new & what’s next in Sales Applications?

Here’s what’s pushing the next wave of innovation:

  • Voice-to-Text Logging: Agents dictate notes while on the move.
  • AI-Powered Nudges: Apps that suggest next-best actions based on behavior.
  • Omnichannel Communication: In-app chat, WhatsApp, email—unified.
  • Role-Based Dashboards: Different data views for admins, managers, and field reps.

What does this mean for Business Leaders?

Sales Applications are not just tactical tools. They’re platforms for transformation. With the right design, integrations, and analytics, they:

  • Replace guesswork with intelligence
  • Reduce the cost of delay and manual labor
  • Improve agent accountability and transparency
  • Speed up decision-making across hierarchies

The future of field sales lies in intuitive, AI-driven applications that adapt to every industry’s nuances. At Mantra Labs, we work closely with enterprises to custom-build sales applications that align with business objectives and ground-level realities.

Conclusion: 

If your agents still rely on Excel trackers and daily call reports, it’s time to reimagine your sales operations. Let us help you bring your field operations into the future—with tools that are fast, field-tested, and built for scale.

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