InsurTech App | Products — SGT Systems Limited

Overview

SGT InsurTech App is a fully-digital insurance platform: instant quote from a phone, photo-based claim submission, AI-driven damage assessment, fraud screening, and faster-payments payout — typically within 2 hours of submission. Pricing is data-driven, blending traditional underwriting with telematics, IoT, and behavioural signals.

Built for direct-to-consumer InsurTech brands, embedded-insurance partners (neobanks, retailers, OEMs), and traditional insurers running a digital sleeve alongside their legacy book. Underwriting capacity is provided by SGT or fronted by Lloyd's syndicates / re-insurers per programme.

Instant quote — 5 questions, sub-second pricing, bind-now CTA
Photo claim → payout in hours — computer vision damage assessment, auto-pay ≤ £1,500
Usage-based premium — telematics or IoT pings tier you A–E, premium adjusts monthly
Live status tracker — every step from submission to settlement visible in-app

How It Works

The diagram shows the four layers of an InsurTech deployment. Hover any module to see live telemetry.

Policyholder App — single-screen claim flow (photo → AI → approved → payout), AI scan overlay drawing bounding boxes on damage, payout amount cycling through queued → in-transit → settled, plus the policy/premium box.
AI Claims Engine — YOLO-detect damaged parts, classify part & severity, look up replacement-part cost, decide auto-pay or refer-to-human; fraud check on EXIF, GPS, image hash, geometry plausibility, and claimant history.
Telematics Pricing — 4 sliders (speed / braking / night-% / mileage) feed a 0–100 driver score, which drives next-month premium adjustment; IoT pings sparkline shows live data feed.
Status & Risk — per-claim lifecycle timeline (submitted → assessed → approved → payout → settled → ceded → subrogation); portfolio-health dashboard with loss ratio, combined ratio, solvency II, NPS.

A continuous feedback channel pushes premium re-pricing, risk-model retraining, and fraud-rule updates back into the engines — the purple stream along the bottom.

Features

5-question quote — bind-now, e-doc policy in your wallet
Photo / video claim — drag-drop, in-app camera, AI guides the angles
AI damage assessment — auto, electronics, bike, home contents, livestock
Fraud-prevention layer — image-hash DB, EXIF + GPS, generative-AI detection, behaviour
Telematics — smartphone-only, OBD-II dongle, or OEM-direct (Tesla / Polestar)
IoT-priced home — leak / smoke / door sensors knock premium down
Parametric & on-demand — turn cover on/off by the hour (e.g., gig delivery, ski trip)
Status tracker — push updates, ETA-aware, "explain-this" AI for any rejection
Re-insurance integration — automated ceding to Munich Re / Swiss Re / Lloyd's syndicate
Subrogation workflow — flag 3rd-party fault claims and pursue recovery
Vulnerable-customer flag — slow-down decisions, human review, signposting

Use Cases

Motor insurance — telematics-priced auto, photo claim, parts-DB cost
Device cover — phone, tablet, laptop bundled with retailer / telco purchase
Home contents — IoT-priced, leak/smoke sensors give discounts
Pet insurance — symptom-photo, vet-direct payout
Travel cover — on-demand, parametric flight-delay, lost-bag QR-track
Embedded insurance — banks/retailers/OEMs sell cover at point-of-sale via SGT API

Specifications

Lines of business: Motor, Home, Device, Pet, Travel, Cyber, Gig-worker, Parametric
Quote latency: p95 320 ms (5-question), p95 1.8 s (broker-grade 25-question)
Claims AI: YOLO-v8 + custom severity head, AUC 0.91, auto-pay 78% of claims ≤ £1,500
Telematics: smartphone (iOS/Android), OBD-II dongle, OEM-direct API; 18K+ pings/day
Payout rails: Faster Payments (UK), SEPA-Instant (EU), ACH same-day (US), UPI (IN); median 2.1 h
Capacity: SGT in-house syndicate, Lloyd's fronting, treaty re-insurance with Munich Re / Swiss Re / Hannover Re
Compliance: FCA + PRA (UK), MFSA / BaFin (EU), Solvency II, FOS / FSCS handling, GDPR
Security: SOC-2 Type II, ISO 27001, AES-256 at rest, TLS 1.3, MFA, vulnerable-customer framework