Nordic Benefits Expanding Partnership with Cloud Insurance

Nordic Benefits is a distribution partner for Collinson, a global leader in insurance, customer benefits, and loyalty programs, headquartered in London.

Their partnership with us started in 2015 with their dental insurance line. They’ve sold over 60,000 policies and have since grown their revenue greatly to around $4 million.

Nordic Benefits’ results
Nordic Benefits’ results.

Ambitions with the new agreement

At the beginning of 2021, we signed a newly extended agreement to help Nordic Benefits implement their plans to:

  • Triple their growth
  • Launch new distribution models, new products, and geographical market
  • Leverage automation of claims enabled by AI and machine learning
Nordic Benefits sign exciting new contract with Cloud Insurance.
From left to right: Magne Heitnes, CEO of Nordic Benefits, and Tim Nguyen, VP Commercial of Cloud Insurance.

The agreement is valid for the next three years, with an option for yearly renewal thereafter. We expect total recurring SaaS revenue for 3 years at $283,000. An additional success fee at $117,000 will also apply when Nordic Benefits reaches the growth goals.

During this cooperation, Nordic Benefits will leverage the following features of our platform:

  • partner onboarding,
  • new product lines setup,
  • improved multi-currency & -payment capabilities,
  • extended payment providers integration,
  • deployed claims module, and much more.

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