ICA Försäkring Manages Over SEK 1 Billion in Premium Volume

When ICA established ICA Insurance in 2015, the ambition was to build a digital insurance company from the ground up – free from technical debt and designed to evolve alongside changing customer needs. The objective was to create an agile, data-driven business fully capable of leveraging the broader ICA ecosystem.

From the outset, the ability to quickly launch new insurance products and processes, while integrating them seamlessly into existing customer relationships, was a core priority.

Realizing this vision required both the right technology platform and a partner with deep expertise in the insurance industry. Key requirements for ICA included short time-to-market, high flexibility, and an architecture enabling seamless integration with ICA Bank and the ICA loyalty program.

At the same time, the business needed to scale efficiently and adapt continuously to growth and evolving market demands. The challenge was not simply to implement a system, but to build a modern insurance operation capable of continuous innovation.

ICA selected the i2i insurance platform as its core system and partnered closely with the Knowit team. By combining i2i’s flexible, open architecture with Knowit’s specialist expertise in insurance technology, the foundation was established for a fully digital and agile insurance business.

The platform enabled rapid development and adjustment of products and processes, as well as tight integration between the insurance offering and ICA Group’s broader customer and loyalty ecosystem.

The entire insurance value chain – from pricing, policy management, and claims handling to payments and accounting – is managed within a unified system. This provided ICA Insurance with a stable yet highly adaptable foundation for growth, where new initiatives could be tested and launched without being slowed down by complex system environments.

Following the original implementation of i2i in 2015, ICA Insurance acquired a perpetual license for the solution in 2023. Since December 2023, ICA Insurance has independently managed and developed the platform according to its own strategic priorities. Knowit has continued to support ICA Insurance through consulting services and has become an integrated part of the internal insurance systems team.

The collaboration has been a key enabler in ICA Insurance’s growth journey. Within eight years, the company grew to exceed SEK 1 billion in premium volume.

The flexibility of the platform has also enabled the launch of innovative offerings such as Food Insurance, creating clear synergies with ICA’s core business and customer offering.

In addition, the open architecture created opportunities for early and value-generating insurtech collaborations. Through ongoing support in insurance technology and platform development, Knowit has contributed to ICA Insurance’s ability to scale rapidly, continuously evolve its business, and differentiate itself in the Swedish market.

The result is an agile, data-driven insurance business designed for adaptability rather than limitation.

Do you want to know how we can assist you?

Give us a call or send a message, and we will get in touch with you.