Achieving a quick and efficient go-to-market is important in the pet insurance market. The pet insurance industry is growing at 30-40 percent annually. One in five American pets belong to Spanish-speaking Americans.
In this case study, we review how our solutions helped Kanguro expand into this lucrative market.
The co-founders of Kanguro, Nicholas Hanabergh and Andrés Mishaan, needed a technological partner that could transform complex insurance policies into a simplified product.
More importantly, they needed to achieve this goal in two languages: Spanish and English.
As Nicholas explains, "When you get insurance documentation or legal stuff in another language, it can get very confusing and daunting. And I think if you can have that in your [native] language where you feel naturally more at ease, then I think you're more likely to buy that product."
Pet insurers must process a series of complex answers from their clients before offering a solution. Often the result is a lengthy interview process that offers a poor customer experience, something no insurer can afford these days.
Critically, Andrés and Nicholas were aware of the importance technology plays in insurance these days. "Finding a partner that can go at the speed you need is important,” says Andrés. “In the insurance world, most software and services have been around for 50, 60, or 70 years. They're now elephants, and each move takes months and years to execute."
Cloud Insurance caught the co-founders’ eyes and they got in touch with us. As Nicholas explains:
"Cloud Insurance was making some noise in the space, for sure."
The first step we took was understanding Kanguro’s unique needs and mapping a product scope. Cloud Insurance’s Project Manager Ryan Phillips was quickly off the mark.
“We work very well together, but we also align business-wise," he says. "They wanted speed-to-market, things to work smoothly, and to get their app/website working in sync for their customers. We aimed to provide this service for them."
Ryan’s team quickly identified the 200 API endpoints within our platform Kanguro could benefit from. However, the project posed some significant challenges. Kanguro’s pricing matrix demanded a creative UX and technical solution.
"If you look at the price matrix spreadsheet, you'll probably get a headache quite quickly because it's very complex,” Ryan explains. “But once we plug it into our system, it makes it user-friendly for the customer at the end. You can just plug it straight in and match it up straight for that price matrix, it's much easier from there."
Most importantly, we implemented these functions in English and Spanish. Achieving this objective was easy since our platform supports multiple languages. Kanguro was quick to notice the pace of progress.
“We were blown away by the simplicity yet sophistication of the product, as well as the customer attention from Cloud Insurance,” Andrés notes.
Kanguro was excited with the smooth and fast product launch. Kanguro’s employees can now upload documentation and send emails in Spanish, English, or both by customising our ready-made templates.
“We had a relatively complex product with boring insurance stuff,” Nicholas Hanabergh, co-founder of Kanguro says. “[Now], the user just needs to answer eight questions, and in just 15 clicks or so, have a fully rated, fully issued or binded pet insurance product with three separate coverages. And we couldn't have done it without the flexibility that Cloud Insurance provides.”
Best of all, Kanguro’s fun and dynamic product is built to scale.
“With how Cloud Insurance set up the product and price matrix, it becomes easy for us to implement our products in a new state,” Andrés points out. “So if someone rings me tomorrow and says we need to expand to Florida, it’s not going to take me long to get up and running in Florida. And if the explosion goes in all 50 states, we can match them very quickly. Essentially, we can start hitting more states, which is really, really good news.
"It’s a very complicated product sold in a very simple manner, and that’s something that we’re very proud of.”
Needless to say, we’re excited to continue growing with Kanguro. With a second product already in the pipeline, the future is bright, even if we’re in different time zones.
"Cloud Insurance can react quickly and adjust the product, so it's very exciting," says Andrés. "It's been a great experience when you're trying to get an insurance product off the ground.
Kanguro is the latest addition to our list of partners in the United States and the first in the lucrative pet insurance market. Our Sales Executive Uy Nguyen perfectly summarises our thoughts about the American pet insurance market.
"Kanguro is the company that has helped us breakthrough into the US pet insurance market,” he says. “I'm super happy with the process so far and of our future as a global company."
Kanguro is the only MGA in the pet insurance space offering insurance experiences in Spanish and English.
Cloud Insurance is an all-in-one SaaS solution for insurers and insurtech companies. Whether it’s customer onboarding, claims management, or profit analytics, Cloud Insurance eliminates the need for disjointed legacy systems when running an insurance business. Cloud Insurance’s rule-based technology saves time, reduces expenses, and boosts profits. Learn more about our solutions here.