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Customer: Prismalife

PrismaLife is a young life insurance company, founded in November 2000 and headquartered in Liechtenstein. It develops and sells innovative pensions products and services. Focusing on product development and administration, the organisation is aiming to work alongside European insurance companies and indipendent distribution organisations. PrismaLife plans to exploit the advantages of its location in the principality of Liechtenstein to develop its target markets in Switzerland, Italy, Germany and Austria. The company's core competencies include international experience in developing insurance products and the use of the pan-European and Internet administration platform.

The customer requirement
The objective of PrismaLife was to offer, in the shortes term, a strong sales platform for several independent distributions channels. Unlike most traditional insurance companies, the target of PrismaLife was to offer transparent, smart and simple insurance products for the largest number of customers with an investment expectation of about 50-100 Euro.

The implemented solution
PrismaLife started in Autumn 2001 selling 2 unit linked product through a multi channel sales approach. Only a few weeks after Lifeware started developing the solution, PrismaLife was able to sell the first insurance policy.

The solutions strengths
The strength of the implemented solution is the simplicity of the streamlined process and of the products, which are tailored specifically to investors without large financial possibilities. For this reason, PrismaLife is also working with a semplified risk assessment. Unlike most traditional insurance companies, PrismaLife doesn't concentrate expertise in the central unit, but strives to decentralize and delegate administrative tasks to the distribution channel. In the first 3 months PrismaLife sold, thanks the strong distribution channel supported by Lifeware's systems, 10'000 insurance policies.

From the beginning of the project, PrismaLife developed 12 new products and the Lifeware's management system has been extended to support the new developed products and to support the several distribution channels in the selling activities.
 



Customer: Prismalife

Since: 2000

Policies: more than 180'000 in 2018
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