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Launching a revenue generating insurance product in nine weeks shaped by early user feedback

APP DELIVERED IN
9
weeks
PROCESSED
13k
invoices
Onboarded
10
Dedicated user testers
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Euler Hermes identified a gap in the market and needed rapid development with constant feedback

As a credit insurance company, Euler Hermes protects businesses from unpaid-payment of invoices and provides information on their clients’ financial stability. They noticed a vital gap in the market for SMEs and wanted to create a unique product to meet the custom needs of smaller businesses. With it being a new product, taking on user feedback was critical to drive the development. In addition, Euler Hermes needed to build a brand new and robust pricing engine for this product, which is where Theodo comes into play.

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A network of beta users continuously tested to drive the development

Theodo worked with Euler Hermes to create and test wireframes in the run up to the development work to ensure we were aligned with users’ expectations. Following design, we built a network of beta users to continuously test the web app throughout the development phase, consequently allowing constant assessment of the product’s viability.

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“Working with Theodo has been a tremendous experience. They delivered, on time, a state-of-the-art platform leveraging best-in-class Agile practices.

In addition, this dynamic and enthusiastic Theodo team always pushed us to reinvent ourselves to develop a game changing product. Can’t wait to work with them again!”

Raphaël Caruso
Head of Innovation Lab, Euler Hermes

We built a reliable pricing system through data collection and automatic risk assessment

We integrated with a third party API to collect accounting data from customers and then analyse the risk of their clients and price insurance covers accordingly. Theodo combined their current risk database and a connection with the user’s accounting software to provide a visual dashboard succinctly showing the accounting data. The dashboard conveniently displays elements such as client information, outstanding balances, late payments and much more.

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Theodo helped Euler Hermes discover a market for their new Tradelock insurance product

Through rapid development, in just nine weeks Euler Hermes were able to validate their MVP and secure funding for imminent further development. Through comprehensive and extended user testing, Theodo proved there is a market for such an insurance product. As a result, we delivered a working solution for custom credit insurance featuring live pricing.

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Technologies used on the project :

React

Django

Amazon Web Services

CODAT

TERRAFORM

GITHUB

STRIPE

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