TINQIN: INVESTING IN THE FUTURE OF DIGITIZATION OF INSURANCE

Insurance is one of the oldest fields of business in human history; some researchers have found evidence for such activities as early as 1750 BC in Mesopotamia. Today, the field is rapidly changing under the demands of EU legislation and digital-first consumers. TINQIN is one of the companies in Europe that facilitates the transition for many insurance companies in France. The company was founded 10 years ago in Bulgaria, has offices in Sofia and Varna, and recently became a part of be ys Invest Group. Jean Charles Miginiac, co-founder and manager of TINQIN, shares more.

Why did you choose Bulgaria for TINQIN?

I had been based in Bulgaria for many years and had already met many people in the local tech industry. When the opportunity to start a tech company presented itself, I decided to take it exactly because of my positive experience working in Bulgaria. With about 400 people working in TINQIN, I'd say Bulgaria was the right choice for a company focused on the European market. Without exception, the management and leadership team at TINQIN are either native Bulgarians or expats who have been living in Bulgaria for years.

Bulgaria offers us many opportunities to grow our teams working on advanced technologies, going beyond generic Java, mobile, and web. In addition, we have amazing analysts and project managers with many years of experience in insurance who can discuss the customers' business requirements in their own language, both literally and metaphorically.

What kind of companies choose TINQIN?

Our customers are recognizable names in the French insurance market, often with millions of insurance policyholders as customers. Companies choose us for several compelling reasons.

Firstly, our extensive software experience sets us apart. Solution architects and senior software engineers are leading the technology side. On the management side, our agile approach ensures impactful solutions are created quickly with transparent progress toward a mutually defined goal. Second, our business analyst teams have deep expertise in the insurance sector, further enhancing the value we bring to our clients. With 80% of our employees having at least 8-10 years of work experience in insurance, we offer unparalleled insights into industry challenges and opportunities. Some of our biggest insurance customers are Viamedis, Solly Azar, Uneo, and Lalux.

Tell us more about be ys. Why did TINQIN join the group?

be ys Invest Group is a leading insurance technology (InsurTech) company in France and Luxembourg. They invested a record amount in TINQIN in 2023 and will continue to fuel our growth in 2024. This is a strategic investment that provides be ys access to the best talent working on the most advanced technologies. The founder, Laurent Carreda, is a visionary with a great understanding of both insurance and technology. He is very excited about the opportunity to have hundreds of talented people at TINQIN work on the advanced technologies required for the complete digital transformation of business processes.

How can we balance technological progress with issues like personal privacy and data security?

Digital trust is the critical component in digitization. There are very specific legal requirements regarding personal data in the EU, both under GDPR and eIDAS. Many of these issues have been brought to the front as a core aspect of European digital sovereignty during the French Presidency of the EU.

One very visible result of these efforts is the EU Digital Wallet, which will become mandatory for all member states in 2024. It requires all organizations, initially public and then also private, to be able to validate a user’s identity, sign documents, and safely store sensitive data. Even today, user verification can be done remotely with a combination of computer vision AI and machine learning AI. We have been using similar technologies to prevent fraud and reduce insurance risks.

While eIDAS applies to all industries, those that process documents and payments, like insurance, need to fulfill all requirements. Our customers need solutions to onboard and service customers quickly and safely. We are already working with one of the biggest insurance companies in Europe on a digital trust application to help them onboard policyholders faster. In 2024, we are launching a mobile wallet and a Trust platform with be ys to help companies meet the EU requirements.

So why should people come to work with TINQIN or for TINQIN?

TINQIN is the definition of a “dynamic” environment. In 2024, the company will double in size compared to 2022. We offer people the freedom to do creative and meaningful work from anywhere in Bulgaria. Since most of our roles are either remote or hybrid, we have hundreds of home offices in addition to our offices in Sofia and Varna. Yes, we still have office parties and team-building events to which everyone is encouraged to come.

How are roles and teams in TINQIN structured?

We are structured around dynamic delivery teams, not departments. Each delivery team is empowered to apply the tools and technologies that are required to deliver the right solution for a specific customer. We are very agnostic when it comes to technology but very religious about customer satisfaction.

Roles at TINQIN are diverse, ranging from software engineers to business analysts and UI designers, each contributing to a clearly defined team goal. We are very excited about working on the next generation of the Digital Wallet because it means more roles in AI, encryption, cybersecurity, and other “advanced” technologies. I encourage people to drop by our booth at career events so they can learn firsthand about all the benefits of working at TINQIN.

Sofia, 115G Tsarigradsko Shose Blvd, Megapark, floor 5

+359 2 805 68 98

sofia@tinqin.com

www.tinqin.com