A history that began in 1835
A piece of insurance history : The Amsterdam Assurantiebeurs in 1611, History of Lugt Sobbe from 1835
Creation of RealXS
The foundation for RealXS was laid in 1976, when the DGA of registry broker Lugt Sobbe was forced to conclude for the umpteenth time that IT companies not infrequently sell turnips for lemons.
Promises, which are not kept. Demonstrations of systems that are never delivered.
Numerous errors, hick-ups and bugs and system analyses, which no one can yet oversee.
The result was an almost endless series of errors in bad IT systems, which haunted the financial world for years on end.
Software package RealXS (Real Access) is different
RealXS can be applied in every conceivable language. The language of the IT world is not one of them.
IT people simply speak a different language than insurance people.
IT people do not understand the difference between a-provision, t-commission, m-commission and underwriting fee. To them, they are all rewards, which they lump together. So in 1976, the DGA decided to write the IT himself for his insurance company Lugt Sobbe & Co Ao 1835. The company worked with more than 3,500 independent advisers: each with his own portfolio and his own current account, which was right on the money.
The experiment succeeded and stockbroker Lugt Sobbe & Co Ao 1835 and underwriter Eurolloyd used it successfully until 2010. An almost endless number of innovative insurance products were implemented and marketed flawlessly during those years.
Also after the takeover by Delta Lloyd, this software functioned to everyone's satisfaction.
Subsequently, the task of converting to Dispan from Delta Lloyd was successfully carried out. Conversion of the Preavenio database was also completed within the agreed time.
After the sale of insurance company Lugt Sobbe to Delta Lloyd, the idea arose to make the software suitable for use by third parties. Why not grant others the success that Lugt Sobbe had achieved with it?
This version for use by third parties was completed in 2010 and has been used successfully by RealXS for many years with agents, Lloyd's Correspondents and by financial service providers.
One of the successful users was travel operator D-reizen. This customer demanded that all local travel agents (80) be able to independently tailor every conceivable travel insurance product for individuals, families and groups. After VakantieXperts took over, it turned out that it had no interest in offering tailor-made travel products: everyone an expiring fixed package was more efficient.
RealXS (real Access) is a software package in which nowadays every conceivable discipline can be applied simultaneously within one system. Insurance products can be installed in that package by your own employees. It does not matter whether you are a Broker, Insurer, Company, authorised agent, a financial adviser or a Lloyd's Correspondent.
A) After a product is installed, you can market that product. You can offer the product through a website targeting private or business consumers.
B) Preferring to work with advisory intermediaries, you save significantly on costs such as marketing and consumer contacts.
Freedom of commission
If desired, insurers can cap commission so that the intermediary is able to determine what is a reasonable remuneration taking into account their advisory work. The commission can thus decrease, while the net premium remains the same.
On 1 March, the new release of our software will become available. In it, numerous innovations have once again been added. A new programming language has also been chosen, so that potential maintenance work can continue to be adequately delivered by the current generation of programmers.
The licence fee is 0.5% per annum on the gross premium.
So that works out at €50,000 for a turnover of10 million. Set that against the amount your systems currently cost you, you will find that your savings are considerable. We charge the licence fees to the product owner. They can sell their product to third parties if they wish. So here, too, there is efficiency because intermediary and insurer currently both have to bear such costs. So this is not the case with RealXS.
Selling the product is optional
Specially if the product is successfully marketed, this can be an interesting proposition. But even if the product has poor numbers, it can be interesting to sell a ready-made product. The buyer can then work with fresh energy to clean up the portfolio. Improve the product, increase premiums, change terms and conditions, adjust clauses.
Old computers out the door asap
Many companies are forced to keep old systems running because migration/conversion has not yet been able to take place. That problem too can be solved, because with RealXS you are at the wheel of setting up old or new products yourself.
The implementation of a Computing Centre where all participants can manage their business will require a fee for the use of the hardware systems. If required, you can have the Computing Centre handle certain administrative matters. Such as carrying out prolongations. I cordially invite you to take a closer look at the content of this website. And of course, RealXS will be happy to provide a presentation of the software.
dir RealXS B.V.
Remco van Buren
dga OpenConnect (OpenC) B.V.
Calculating centre for insurance markets