Allianz – Slovenská poisťovňa is the largest universal insurance company in Slovakia, with a market share of almost 27%. It offers an entire range of insurance products: from life and accident insurance, through private property insurance and motor vehicle insurance, to industry and entrepreneur insurance. The company has more than 1,800 employees and operates more than 300 sales points all over Slovakia. It belongs to the Allianz Societas Europaea Group, which manages the contracts of millions of clients around the world.
Allianz – Slovenská poisťovňa wants to provide its services to customers quickly and fairly. Quickly fulfilling customers’ requirements, but also quickly introducing new products onto the market. An important area is high quality and professional sales services provided to clients. High quality application support during sales is a necessary prerequisite for achieving these goals. Removing any barriers to selling anywhere in the sales network, either via static or mobile connections, or by using a wide portfolio of technological equipment, is the strategic priority of the insurance company. Allianz – Slovenská poisťovňa reacted to the current trends by fundamentally modernizing its sales support systems.
The state of the application support of sales was an obstacle to the fulfilment of strategic goals.
The development of software solutions for sales support in Allianz – Slovenská poisťovňa (Allianz SP) was being provided by multiple suppliers. Software components with the same functionality were often being developed for different sales channels. Atomic development of individual systems brought increased costs for the development, management and operation of the IS. This clearly created a space for a possible consolidation.
At a time when the rapidly growing segment of brokerage network sales required innovative application support for sales, it was decided not only to develop the solution itself but also to change the approach to software development for different sales channels.
Goals and requirements
The customer needed a significantly improved sales support.
The application for brokerage network sales was supposed to maximize sales support – primarily of life insurance, improve customer service and maximize the level of digitization of the entire process. With regard to the sales channel, the solution had to be easy to integrate into the existing brokerage systems.
The real challenge for the contractor was the requirement to achieve maximal unification of application support for various sales channels, with the aim of increasing the product preparation efficiency and decrease the redundant parts of the delivered product.
PosAm became one of the key players in this consolidation process, given its long-standing experience with creating solutions for sales support in the insurance sector. Thanks to its domain and technological expertise, PosAm has been able to introduce innovative solutions for both required areas.
We designed a new consolidated solution for multi-channel sales
In addressing the requirement to eliminate redundancies in information systems for various sales channels, PosAm has focused on processes that are common to all sales channels: the creation of calculation libraries for insurance calculations and comprehensive support for the creation of insurance quotes.
PosAm designed a new technology layer that consolidates these processes and is a common platform for applications used in individual sales channels. One of these applications would be a new solution for supporting sales of insurance products through brokers.
When creating the broker solution, PosAm utilized a completely new approach towards the sale of the products themselves. It should reflect the need to build trust relationships between the insured and the insurer based on quality services and transparent information, so the entire solution was tailored to this end.
Unified architecture optimizes development and increases sales support efficiency
The processes common to all sales channels are now ensured by a new system that provides full configurability of sales products, enables very fast and effective changes to computational algorithms and also unlimited product segmentation for specific sales networks, or individual salespersons.
This technology layer unifies the services provided and provides data for internal information systems, as well as for external suppliers and brokerage companies that are consumers of the services. The development, administration and distribution of calculation libraries in this manner certainly represent a unique solution on the market.
The designed architecture also uses a new system to support insurance product sales through brokers. It ensures efficient sales support of life insurance and private property insurance. A very important feature of this solution is a detailed sophisticated user interface focused on the assisted experiential sale of insurance.
The deep knowledge of customer processes and the mastery of the relevant technologies are behind the creation of a simple and clear interface of the “wizard type”. This gives the opportunity to involve a prospective client in the preparation and modelling of the insurance. The interactivity of this process contributes to a significant enhancement in service provision and customer satisfaction.
Development of the new system took only 6 months
The success of the project was based on two key components of the entire solution: the consolidation layer with key business features of the quote system and calculation libraries, which must work in the multi-channel world of varied technological devices. We therefore paid maximum attention to detailed input analysis of user scenarios and high-quality preparation of calculation libraries and the method of their implementation on a rich WEB client. We have also devoted a lot of effort to the ergonomics and usability of the user interface. Despite the complexity and scale of the project, we introduced the solution into operation within 6 months after the start of the implementation work.
Results and benefits
The expected benefits have arrived. Products are introduced faster and with lower costs, and the level of sales support has increased significantly. The project therefore successfully fulfilled the ambitions defined at its start.
We have unified the key functionalities for individual sales systems and significantly optimized costs for the insurance product sales process. The common consolidation layer of applications for individual sales channels considerably reduced the time needed to market new insurance products. The reduction achieved was in the order of weeks. The resulting solution also contributed to a reduction in the operating costs associated with the provision of SW solutions.
A modern sales support system for brokers, focused on experiential assisted sales, has brought a new dimension into the sales process, and not only for brokers. In the highly competitive environment in which the insurance company operates, these are important steps that will help Allianz – Slovenská poisťovňa to maintain its current market leadership.