Atlar for insurance companies: Lassie case study
Atlar is excited to showcase Lassie in its latest case study. Lassie is the first preventative and digital pet insurance provider that aims to ensure that pet owners are able to provide the best possible care for their beloved animals. With its user-friendly mobile app for managing policies, filing claims, and earning discounts, along with its extensive range of insurance benefits, such as unlimited free veterinarian calls and advanced diagnostics, Lassie makes it easier than ever for pet owners to keep their pets content and healthy.
Payment Flows & Challenges
Lassie’s critical bank payment operations:
- Paying out insurance claims from their bank accounts
- Monitoring Accounts & Balances across banking partners
Like many early-stage companies, Lassie started by scaling a finance team to manually initiate and monitor payments in their bank’s online portal, a tedious & error-prone process. After experiencing product-market fit with more than 20 000 pets insured through Lassie, and raising their Seed & Series A rounds within months from each other, handling claims payouts manually across multiple banking partners became a significant headache.
Lassie has two types of claims payout flows. They either pay directly to the customer who has provided Lassie with account details at the checkout or settle to the clinic when a customer visits a veterinarian. Once a claim is requested, a task is created within Lassie’s back office, requiring approval from the Claims Manager to initiate the claims payout. This was followed by the Financial Controller logging into the internet bank, manually entering the payment details, and subsequently matching the payment details to their internal books.
To aggravate the pain, veterinarians often provide a list of payments that are either missing or on the account without an indication of who sent them. This requires the finance team to spend hours a week scrolling through and searching their bank statements in legacy online portals.
Partnering with Atlar
Lassie initially partnered with Atlar in the Swedish market to remove the manual payout process by integrating Atlar’s API into their internal systems and building automated workflows to easily manage the different payout flows. Lassie could now automatically reconcile outgoing payments, leverage webhooks to get live notifications on payment statuses, and set up approval chains to maintain the four-eyes principle. To counter the pain of searching for missing transactions reported by veterinarians, Atlar shipped dashboard search features, reducing time spent each week on manually looking up payments from hours to minutes.
"Money movement is a critical part of our service and we had to find a partner that could help us scale that across Europe” – Hedda, Co-founder & CEO at Lassie.
Having seen Atlar as their preferred partner to scale across Europe, Lassie soon set their sights on entering Germany. Atlar helped Lassie fast-track integration conversations with key local banks and built out an integration with a leading German bank in 3 weeks to support their expansion, allowing Lassie to rapidly gain a foothold in the market.
Get In Touch With Us
If you’re a company that’s focused on insurance, like Lassie, or handle bank payments as a part of your product reach out. We would love to hear from you.