CHAPTER 1

COMPANY PROFILE
1.1 ORIGIN OF THE COMPANY
BRIISK ITP

Figure 1.1 Briisk ITP

Briisk is a high-growth tech company founded in 2015. Today we are a team of 23 with a global
footprint, operating in 22 countries worldwide. Key markets include the UK, Germany, Turkey,
India, South Africa and East Africa. They have deep insurtech and financial services expertise
and are passionate about creating innovative digital insurance and financial services solutions
making them easier to use and simpler to access.
They help their clients automate, digitise, innovate and explore new distribution channels,
thereby delivering more value for them and their customers. Through collaborating with both
incumbents and new entrants, they enable simple ‘click-and-transact insurance products and
financial services for any online marketplace – on any interface and on any device.
Briisk is a late-stage insurance/Financial Technology (Insur-FinTech) start-up, providing an
independent, low-code, cloud-based secure insurance, loan technology platform, linking the
insurance and financial services value chain. Briisk enables fast and flexible product
configuration and the efficient and swift implementation of distribution networks.

1.2 VISION, MISSION AND OBJECTIVES

1.2.1 VISION
Briisk empowers financial inclusion & economic prosperity that enables anyone to buy or sell
digital financial services, instantly and seamlessly.

1.2.2 MISSION
Their Mission is to build, innovate and advance the instant transaction platform that enables
anyone to buy or sell digital financial services instantly and seamlessly that features our unique

11
core-tech architecture to power the open and transparent delivery of three key financial
services:

• Instant Insurance
• Instant Credit
• Instant Foreign Exchange (FX)

1.2.3 OBJECTIVES
Digitising the Indian insurance while ensuring that RIGHT insurance products reach the
RIGHT customers at the RIGHT price. At Briisk India, the only constant are continuous
innovations, research and development, along with our desi swag!

“ INSTANT TRANSACTION PLATFORM”

1.3 BOARD OF DIRECTORS AND STAKE HOLDERS

The board of directors of the Briisk ITP is listed below
• Hanno van Arde (CEO – Co-Founder)
• Ismail Mercan (Head of Technology – Co-Founder)
• Andreas Scherrer (CFO/COO Andreas is the CFO/COO of Briisk)
• Alasdair Maclay (Managing Director – Co-Founder)
• James McKeown (Head of FX)
• Gordana McNamara (Head of Marketing)

1.4 ORGANIZATIONAL STRUCTURE

CEO

CO-FOUNDER

HEAD OF
TECHNOLOGY

CHIEF MANAGING HEAD OF HEAD OF

FINANCIAL DIRECTOR FINANCIAL MARKETING
OFFICER EXCHANGE

12
1.5 PRODUCTS/SERVICES
1.5.1 Cloud Computing
Cloud is more than just data storage it’s a catalyst for change. With cloud-based infrastructure,
platforms, software services and business processes in place, organisations can become more
agile and efficient and turn their entire operations into insight-fuelled, digitally driven
enterprises.

Figure 1.2 Cloud Computing

1.5.2 Entity Management

Using their own code base, they developed a flexible, easily configurable tech solution,
allowing us to easily recreate your physical processes into digital equivalents. Briisk tech is
like a constantly evolving, living system that is shaped to any insurance product’s or fi nancial
service’s full life cycle.
Engaging the customer at any touchpoint, Briisk tech is evolving towards a digital counterpart
to how we live and work. The key force behind this core tech is called ‘entity management’. It
represents our unique customer value proposition.

13
 Figure 1.3 Entity Management

1.5.3 PaaS and SaaS

Briisk offers Platform-as-a-Service (PaaS) and Software-as-a Service (SaaS) for the instant
transacting of insurance, credit & FX. The combination of these three financial services
solutions is unique in that it delivers a variety of insurtech and fintech benefits to insurance, e-
commerce, FX and credit clients.

Figure 1.4 PaaS and SaaS

1.5.4 End-to-end automation

They build end-to-end business automation solutions. This includes instant verification of your
customers, easy product on-boarding of insurance, credit and FX, administration of workflows
and the enabling of online transactions and customer life-cycle management - all in one
solution.

14
 Figure 1.5 End-to-end Automation

1.5.5 Digital Distribution – Tying together the Financial Ecosystem

With your insurance product or financial service in place, the next step is to digitise and offer
it online. Briisk brings together the tech, distribution channel opportunities, financial services
and marketing expertise into one digital environment. Resulting from these ecosystem
opportunities, we provide complete Business-in-a-Box Solutions, where the insurance product,
the digital workflow own automation and the distribution channel are all provided for you.

Figure 1.6 Digital Distribution

15
1.6 MILESTONES

Figure 1.7 Briisk ITP

2008-15 — Briisk founders, Hanno van Aarde and Ismail Mercan, launch the travel industry’s
first fully digital insurance solutions - Travelsafe, CarTrawler and Hepstar - in South Africa
and Turkey
2016 — Briisk launches in South Africa with first transactions on the Briisk Instant Transaction
Platform, with the Briisk White Label powering Travelsafe, the online marketplace for medical
travel insurance.
2017 — Briisk unveils the SureBüddy life-insurance mobile app in India. Further, the Briisk
White Label powers Finchoice, the digital life-insurance online marketplace and Easy Gap, the
medical short-term gap insurance online marketplace in South Africa.
2018 —Drone covered digital drone insurance online marketplace, Just CarHire digital car-
hire excess insurance e-commerce solution and Funeralfund immediate pay-out life insurance
online marketplace go live In South Africa. Upendo Africa, an on demand life insurance digital
agent channel starts transacting in Zambia.
2019 — Focus on building product and distribution functionality on the Briisk platform.
Combined Life insurance and savings product in India, underwritten by Kotak Life. Angel
Investment.
2020 — Launch of simple product builder and distribution network integration functionality
on the Briisk platform. Personal Accident, underwritten by Britam. Bloom Medical Health,
underwritten by Momentum. Pre-series A fundraising round currently open.

HOW WE DO IT & WHO WE DO IT FOR

• INSTANT
Delivery of digital insurance and financial services to customers

16
• CONTINUOUS
24/7/365 cloud platform-as-a-service quality

• LEAN
Thinking, simplifying, automating and digitising processes, reducing cost

• DEEP
Adaptation of digital business models and technology architecture

• DYNAMIC
Insur-Fintech services and product customisation at the point of sale.

1.7 FUTURE PLAN

1. Digitise existing distribution Channel

Enable your existing distribution channels on the Briisk ITP and provide your brokers and
agents with digital interfaces, to scale your existing distribution channels much faster and
at lower cost

2. Get access to new Distribution Channel

Integrate continuously with their growing network of distribution channels.

3. They aim to target 2 billion underserved and underinsured individuals and small
businesses in Africa, Middle East and India.

17