Openkoda, a leading provider of open-source enterprise software, has launched a GenAI-powered platform which is set to revolutionise modern insurance applications.
The offering, known as Openkoda 2.0., will help insurers and InsurTechs accelerate the development and deployment of these applications.
The highly-anticipated release comes at a critical time as the insurance sector faces significant challenges, as with an ageing population, and emerging risks like cyber-attacks and climate change, the industry is under immense pressure to evolve.
This transformation offers a unique opportunity for insurers to offer highly tailored products and innovative loss prevention services.
Openkoda 2.0 is designed to meet this challenge by allowing insurers to quickly implement new insurance products and distribution channels.
The platform allows seamless integration with an expanding ecosystem of specialised InsurTech services, fostering flexibility and innovation.
Openkoda’s founders, Arkadiusz Drysch and Michal Glomba, have extensive experience delivering enterprise software solutions for the insurance and financial sectors. Their vision for Openkoda was born out of the challenges they faced while working with traditional insurance software platforms.
The new Openkoda 2.0 introduces several key features, including new application templates designed for embedded insurance, risk assessment, and policy & claims management solutions.
One standout addition is the Reporting AI feature, which allows decision-makers to extract actionable insights directly from their business data using natural language processing.
This eliminates the need for external reporting tools and the time-consuming process of manual database queries. Openkoda’s aim with these features is to empower insurers to make smarter decisions and streamline their operations.
Additionally, Openkoda 2.0 offers two editions: Openkoda Core Open-Source and Openkoda Enterprise. The open-source edition is ideal for insurance companies with development teams who want to adopt and extend the platform at their own pace.
Openkoda Enterprise adds advanced features, such as the Reporting AI, a development kit UI, custom dashboard builder, and multi-tenancy capabilities, enabling companies to deliver and scale applications faster.
The platform can be deployed on Openkoda’s Managed Cloud or within a company’s private cloud, providing insurers with flexibility in choosing the option that best fits their security, compliance, and resource requirements.
Arkadiusz Drysch, CEO and co-founder of Openkoda, said, “We knew there had to be a more efficient, flexible approach that didn’t sacrifice quality. We decided to create a platform that transforms how enterprise applications are developed — one that’s faster, highly adaptable, and upholds the rigorous standards of financial industries.
“One of our primary objectives is to enable insurance companies to build open, scalable applications using a popular technology stack, while retaining full ownership and control over their applications and customer data.”
Michal Glomba, co-founder of Openkoda, added, “Openkoda is a foundational platform for the modern insurance business. Our goal is to support insurance and InsurTech companies in this transformation by enabling them to build highly personalised products and new distribution channels faster — much faster than traditional software platforms allow.”
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