Overview
Experience the unparalleled uniqueness of NanoBYO in the enterprise software market. With NanoBYO, embark on a refined journey of insurance product configuration (aka. ConfigXcel) and software development (aka. CreateXcel). Seamlessly convert insurance carriers' actuarial spreadsheets into product APIs and effortlessly build enterprise-grade Point-of-Sales and policy administration applications on our acclaimed codeless platform.
Key Features
Unique Capabilities for Insurer Competitive Advantage:
At NanoBYO, we recognize the unique needs of your distribution channels and the ever-increasing demand for innovative products. With NanoBYO, we provide three distinct self-configuration options for product development and distribution. Empower your Actuarial, Product, and IT teams to manage product configuration efficiently. Our transformative technologies are designed to supercharge your product development and distribution capabilities.
1.Experience the Power of Excel-to-API Technology:
Empowering your Actuarial team with seamless uploading of Excel spreadsheets to our product and pricing engine. Experience the intelligent conversion of COI, rates, rules, and contextual information, directly generating a comprehensive insurance product API with sales illustrations. What truly differentiates us from other software vendors is our unparalleled ability to convert Excel data into MongoDB. This transformative approach ensures horizontal scalability, significant performance improvements, enhanced resilience, and guarantees 100% auditability for any changes. With advanced version control and co-existing capabilities, our solution enables effortless management of multiple products. Most importantly, we subject our system to rigorous testing with thousands of scenarios, ensuring uncompromising accuracy and meeting the highest standards of compliance requirements.
2.Optimize Product Launches with Effortless Cloning and Configuration for all Channels:
With NanoBYO, your Product team gains the ability to set up or clone products step-by-step, without the need for any coding. This streamlined process greatly reduces product development time, allowing insurers to quickly launch new products or make modifications to existing ones. By eliminating the requirement for coding expertise, NanoBYO ConfigXcel strengthens your team to efficiently bring products to market and adapt to evolving customer needs.
3.Unlock the Power to Configure Channels and Create Tailored Product Campaigns:
In addition, your team possesses the capability to configure new channels or establish product campaigns tailored to individual channels, or even all channels, with the flexibility of effective dating. This empowering feature enables you to target specific demographics or markets, ensuring that the right product is available at the right time. By specifying the start and end dates of a product campaign, you can ensure that the product is only available for a specific period, enhancing its exclusivity and desirability. With this remarkable capability, you can strategically plan and execute your sales efforts, maximizing their reach and impact, and achieving optimal results.
4.Embrace Boundless Innovation with NanoBYO:
NanoBYO provides a platform for unlimited creativity, enabling you to craft innovative products to life. Our toolkit's flexibility empowers you to build and customize your products, catering to the distinct requirements of your customers and markets. No longer confined by pre-existing product templates or the proprietary Excel formats of other software providers, NanoBYO ConfigXcel allows you to redefine product development. Embrace this unparalleled opportunity to revolutionize your offerings, delivering unique and tailored solutions that set you apart in the industry.
5.Gain Valuable Insights and Optimize Pricing with the Value of New Business (VNB) Simulator Tool:
The VNB Simulator tool within NanoBYO empowers you and your distribution partners to leverage your own data and incorporate third-party insights, including valuable inputs from reinsurers. Through simulating various price points and considering other factors for new products or campaigns, you can strategically determine the optimal pricing strategy that maximizes both product profitability and sales. This comprehensive tool equips insurers with invaluable insights, enabling informed decision-making, precise product pricing optimization, and ultimately driving enhanced profitability for your business.
Key Benefits
Measurable Benefits:
Accelerated time-to-market turnaround time by 5x
Some vendors claim that they can build a product within hours, but this is only partially true. The entire end-to-end cycle, including product development, and integration with frontend, SIT, and UAT, should be considered when measuring time-to-market. Our clients consistently provide feedback that NanoBYO greatly accelerates the time-to-market 5x faster than the industry average.
Lower the Total Cost of Ownership by 70%:
Our easy-to-use, self-configuration platform empower you with a competitive edge and sharply reduces the total cost of ownership by using your internal resources.