Author: Dario Leuchtmann
Brokers, however, are not committed to just one insurance company, but have contracts with many different insurers and recommend to their clients the offer that best suits them. If an insurance company processes requests for quotes from brokers, the probability is therefore high that the competition will come into play after all. This can be the case due to various factors:
All these cases have the same core of the problem in common and therefore also the same solution. When the process is lengthy, complex and inefficient, it causes delays, costs unnecessary money and misunderstandings and errors occur more quickly and frequently. The solution to this is a simple, fast and clearly defined digital process. This gives employees a clear guard rail in manual tasks and takes a lot of manual work off their hands through automation and fewer media breaks.
Brokers, in their role as external insurance advisors, do not have access to the insurance company's internal systems. This leads to the following challenges:
In order to address the challenges mentioned above, we have developed and implemented the following business process together with a large Swiss insurance company.
The following business value was generated through the solutions implemented:
The knowledge about the process flow is modelled in a BPM process and is no longer only available as expert knowledge among the employees. As a result, fewer errors occur and the process runs faster.
Due to the more efficient process flow, the offer reaches the broker more quickly. As brokers do not have to wait long for offers, the chance of a successful contract conclusion is increased.
The customer receives the offer faster, which increases his satisfaction and the likelihood that he will remain loyal to the insurance company.
With this solution, the broker insert process is greatly simplified and thus accelerated for the clerks. Existing distribution channels are thus still used and result in increased revenue.
During implementation, care was taken to ensure that everything is modular, so that individual modules can be easily expanded or replaced. Once the entire process has been tested and the employees have become familiar with it, it would be possible to offer an API interface to the customer app in addition to the AI for email recognition without much effort. This modularity should definitely be taken into account. Because it is precisely through such extensions as an API interface to the customer app that further considerable added value can be generated very quickly and cheaply in the future. The customer could, for example, independently make quotation requests for which he would receive an answer within a very short time.