Big Ticket Platform provides a secure digital infrastructure that enables clients to transmit risk and insurance data to any industry partner while maintaining control over data access and usage. This solution enhances the efficiency of the insurance renewal process, resulting in an estimated $25 billion in annual operational savings for the industry.
Funding
$4.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
FCKV+3Founders
Product
Problem
The current insurance renewal process is inefficient, often relying on manual data transmission and outdated systems, leading to increased operational costs and a frustrating experience for clients and industry partners. Clients lack control over their risk and insurance data, and the process lacks transparency and a clear audit trail.
Solution
Big Ticket Platform provides a secure, digital infrastructure that enables clients to transmit risk and insurance data to any industry partner while maintaining control over data access and usage. The platform sources the client's latest risk and exposure data from the insurer and securely shares it, allowing clients to maintain and submit their exposure data with every participant in the insurance value system globally, instantly, and with a full audit trail. This industry-supported solution streamlines the renewal process, offering a unified digital environment for collaboration and connectivity. By providing a single source of truth for risk data, Big Ticket enhances data quality, reduces bias, and improves contract certainty.
Target Audience
The primary target audience includes risk managers, insurance buyers, brokers, and insurers seeking to improve the efficiency and security of the insurance renewal process.
Features
- Secure data transmission based on open banking principles, ensuring client data is only accessible with explicit permission.
- Structured data communication enabling seamless interaction between clients, brokers, (re)insurers, and the broader risk and insurance ecosystem.
- Personalized risk insights derived from brokers, insurers, and a global network of risk solution providers.
- Integration with enterprise and RMIS systems to minimize manual data entry.
- Full audit trail of all historical data, providing transparency and accountability.
- API-first infrastructure enabling innovation and the development of new risk insights and solutions.
- Global governance through industry-leading executives from insurers, brokers, and risk manager associations.