Founded in 2019, Hong Kong-based Nanoinsure claims to be redefining the future of insurance through a vision of a composable, API-first ecosystem. The company empowers carriers to break free from legacy limitations, treating technology as building blocks that allow for unprecedented operational agility.

Nanoinsure harnesses AI to unify data and generate real-time insights, and the firm drives measurable growth across the entire customer journey. The firm said it platform enables rapid product innovation, a modernized sales platform, incentive and compensation management, and seamless core system modernization, ensuring its clients achieve a lasting competitive advantage in a digital first world.

One of the key planks of Nanoinsure is its view of itself as a coreless insurer. Coreless insurance is a certain approach to software where an insurance firm modernizes its technology by creating an agile execution layer on the top of its existing legacy core system instead than replacing the core system entirely.

So, what does a coreless insurer look like in practice? For Terrence Ho, co-founder and chief commercial officer at Nanoinsure, such a process is a ‘huge paradigm shift’.

He explained, “Traditionally, a life insurer’s legacy core system, which is whether it’s a Mainframe or a Java monolith, controls pricing, rules, workflows, and data. In a ‘coreless’ model, we demote that legacy system to act merely as a passive ‘System of Record’, so, just a database.”

As Ho states, the actual brain of the operation becomes NanoBYO, where all the actuarial math, logic, and product rules are configured. NanoBYO, he adds, then exposes those services to NanoUniverse, the firm’s orchestration layer, which uses APIs and microservices to connect sales, distribution, and back-end administration seamlessly.

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