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The company operates a freemium model, charging for additional premium designs, the removal of ads etc.
But the insurers would be free to sell additional out-of-pocket coverage for additional premium payments.
On that note, wireWAX operates a freemium model, charging for additional premium features, such as customisations, on a 'pay for what you use' basis.
As for the business model, Ludwin said there's nothing concrete right now, but he noted that there are opportunities for additional premium services around things like photo quality and storage.
That's why, by keeping the platform free and charging for additional, premium features depending on the size of the firm, number of users, amount of dollars under management — the traditional software/SaaS pricing model — CapRally believes it provides an attractive alternative.
In the markets, there is expanding capacity at both the primary and excess levels, which has countermanded underwriter desires for additional premium.
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Under current law, health plans do not receive an explicit payment for drug benefits, though many offer such coverage, sometimes for an additional premium.
It is possible to buy "floaters" covering such items for an additional premium.
For an additional premium, a cost-of-living adjustment can be included.
For an additional premium the discovery period can be extended beyond the end of the policy period.
For an additional premium, some LTC policies offer an inflation provision, which increases the daily benefit by some percentage, such as 5 percent a year.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com