Letter from the CEO

The world stood still in 2020, forcing us all to find a way to reinvent our lives and businesses. We at Amodo started 2021 as experienced survivors and pushed ourselves further to develop Connected Insurance Industry. I am proud to say the Amodo team performed strongly above expectations. Among other things, we helped some leading Insurance companies around the world to create new proposals for their market at a time of intensified demand for personalized products and services available through mobile channels.


Some of the most innovative usage-based insurance (UBI) programs were launched on the Amodo Connected Insurance Platform in 2021. For example, UNIQA’s “Smart Kasko,” the state-of-the-art UBI program that lowers casco policy purchase cost and enables customers to have a complete control of full casco coverage. The key to this innovative solution is its simplicity and practicality in allowing drivers to quickly activate the prepaid package via their smartphones, without the need for paperwork.


Some clients decided to capitalize on Amodo platform’s rich customer engagement module that relies on user behavior analysis. A great example is the LAQO prevent program, launched by Croatia osiguranje, which promotes and rewards positive behavior of their users and gives a more profound insight into driving behavior and related risks for future innovative insurance policies.


Digital insurance brokers are, more than ever, using the Try Before You Buy (TBYB) feature of Amodo’s Connected Insurance Platform to boost policy sales. This solution is based on a well-known practice that gives customers an option of trying out a service before making the final purchase. But in the era of smartphones and digital technology, the whole concept is elevated to another level. Through the Amodo TBYB model, we ensure manageable costs for Insurance clients, and low entry barriers for end users who are left to do just one thing — download the application.


During this year, we have managed to significantly increase Amodo’s presence in the focus markets of Europe and Asia but have also succeeded in implementing Amodo’s solution in territories that we previously hadn’t got a chance to explore, such as Japan. But the story of Amodo’ achievements doesn’t stop here. Amodo has significantly expanded its partnership network, joining forces with renowned companies and platforms, such as SAP, bsurance, PI Labs and Fulcrum Digital. Together we bring even more value to Insurance Companies offering a fully integrated end-to-end solution for true digital insurance operations.


In 2021, Amodo’s work has been accompanied with prestigious awards and recognitions. Frost and Sullivan awarded Amodo with the European User-based Insurance Industry Excellence in Best Practices award. InsurTech Insights has listed us among 30 most innovative InsurTech Startups in Europe. Recently, we have been included in the Top 10 InsurTech Solution Providers 2021 by the APAC CIO Review. All these recognitions only further confirm that Amodo is the crucial player in the fast-growing InsurTech sector.


Of course, none of this would be possible without the outstanding commitment of Amodo’s employees. So thankful to have you all on board! The company will be strongly committed to recruiting new quality talents and investing in the employees’ competencies in 2022.


I wish a Happy New Year 2022 to all Amodo employees, partners, and associates. Can’t wait to push InsurTech industry to a next level.

Marijan Mumdziev, Amodo CEO

About Amodo  
Amodo is an insurtech company on a mission to disrupt the insurance industry. By turning users' smartphones into powerful telematics sensors, Amodo Connected Insurance Platform enables insurers to deliver tailor-made products by gathering and contextualizing behavioral data. Over the past eight years, Amodo launched more than 40 different Connected Insurance Products worldwide, with some of the leading companies such as AIG, Porsche Insurance, BNP Paribas Cardif Insurance, UNIQA, and many others. Amodo was named by Financial Times as one of the top 5 Insurtech companies globally, is a winner of a prestigious Digital Insurance Agenda Diamond Award in 2020, and has been named by Frost and Sullivan as the Best Practice Leader in the Usage-Based Insurance market in 2021

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