SMART INSURANCE
IN THE DIGITAL
WORLD
© 2015 Software AG. All rights reserved. For internal use only
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© 2015 Software AG. All rights reserved. For internal use only
INDUSTRY PRIORITIES
1
Bottom Line
34%
2
Customer Centricity
80%
3
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OF INSURERS RECOGNIZE IMPROVE
EFFICIENCY AND ATTRACT & RETAIN
NEW CUSTOMERS AS TOP
STRATEGIC PRIORITY (GARTNER)
(OF THE 30 COUNTRIES SURVEYED)
RECORDED A DECLINE IN THE
PERCENTAGE OF CUSTOMER WITH
POSITIVE EXPERIENCE (CAPGEMINI)
© 2015 Software AG. All rights reserved. For internal use only
3
Product Transformation
80%
4
OF SURVEYED CUSTOMERS SAID THEY
WOULD BE WILLING TO SHARE SOME
INFORMATION WITH THEIR INSURERS
TO OBTAIN PRICE REDUCTION
Regulatory Compliance
2ND
BIGGEST IMPACTING CHANGE AT 46%
IS REGULATORY CHANGE, JUST AFTER
BIG DATA WITH 78% (CAPGEMINI)
KNOWING WHAT YOU WANT AS A CUSTOMER
IS THE ANSWER TO WHAT INSURERS NEED
Safe driver
Healthy person
I travel… a lot
I do a lot of sports… dangerous one too
I am a happy husband a father of 2 y.o. boy
…
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© 2015 Software AG. All rights reserved. For internal use only
INSURANCE CHALLENGES
AND OPPORTUNITIES
Understand your customers
Understand your competition
Develop new products
Understand regulations
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© 2015 Software AG. All rights reserved. For internal use only
INSURANCE INNOVATION STRATEGY
TRANSFORMING INSURANCE
Legacy Modernization
•
•
•
•
Cost Efficiency
Compliance
Core Systems
Architecture
LEGACY
MODERNIZATION
Customer Centricity
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© 2015 Software AG. All rights reserved.
Innovation Strategy
Build on top of existing capabilities
to provide a new customer
experience
SMART
INSURER
Operational Excellence
Biz / IT Transformation
•
•
•
•
Digitization
Customer Centricity
Product Innovation
Analytics
BIZ / IT
TRANSFORMATION
Product Innovation
DIGITAL BUSINESS PLATFORM
ENABLING INSURANCE INNOVATION & DIFFERENTIATION
Front Office
– Customer
Engagement
ANALYTICS
& DECISIONS
Policy
Acquisition
Claims
Handling
BUSINESS & IT
TRANSFORMATION
Channel
Management
Customer
Service
Contract
Lifecycle Mgmt
Claims
Lifecycle Mgmt
CLOUD
Marketing
PROCESS
HYBRID
INTEGRATION
Compliance
Management
Agile
Differentiated
Simple
Convenient
•
•
•
•
Agile
Visible
Scalable
Fast
•
•
•
•
Stable
Reliable
Efficient
Standardized
+
Middle Office – Risk, Compliance and Performance Management
Risk
Management
•
•
•
•
Fraud / AML
Reconciliation
Regulations
Audit
ON
PREMISE
IN-MEMORY DATA
Powered by the Digital Business Platform
Back Office – Core Operations
Policy
Admin
Finance &
Treasury
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© 2015 Software AG. All rights reserved.
Rating
Underwriting
Claims
Processing
General
Ledger
HR
Procurement
Billing
…
JOINT WIN IN ITALY: OCTO
Who is Octo?
• Telematics Service Provider (TSP) to
insurance partners, carmakers, rentals
• Largest insurance telematics provider
in Europe/ largest database worldwide
• Services: User Based Insurance, Stolen
Vehicle Tracking, Crash Management
• Fast growing at 8000+ new installations
per day
• Operations in UK, France, Germany,
Spain, USA, Brazil – 28 Countries overall
• 1 M User Mark in North America for
Usage Based Insurance (UBI) in Sep
2015
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© 2015 Software AG. All rights reserved. For internal use only
FASTER CLAIMS AND HAPPIER CUSTOMERS
FOR PREMIUM PRICES
OPPORTUNITY:
RESULT:
• Justify premium price through better
customer service
• Reduce cost of handling claims through
more performing processes
• Optimize Resource Allocation
JUSTIFY
HIGHER PREMIUM PRICES
WITH NEW WELLNESS PROGRAM
RESULTS:
• End-to-end visibility on the entire Claims
handling process
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• Optimized resource allocation of the claims
management team
REDUCE
• Extracted more value from newly deployed
claims handling solution
CLAIMS HANDLING
TIME
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© 2015 Software AG. All rights reserved. For internal use only
IMPROVE
RESOURCE
ALLOCATION
INSURANCE USE-CASES
ACCELERATING INSURANCE
SUCCESS WITH PARTNERS
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© 2015 Software AG. All rights reserved. For internal use only
POLICY AND CLAIMS MANAGEMENT
ENHANCING YOUR CUSTOMER EXPERIENCE THROUGHOUT
THE LIFECYCLE
Consumer
Business
Partners
Dashboards
Real-time
Analytics
Employee
Body Shop
Connect
BI
Dashboard
E-forms
policy
Expert
Product
configurator
E-forms
claims
•
Portal for customers, employees,
partners, body shops, experts,
appraisers and opposite parties
•
Dashboards for Real-Time
Analysis on process performance
•
Best-Practices Policy, Claims
and Billing Management
Processes
•
Product Configurator
Tasks
DIGITAL BUSINESS PLATFORM
Packaged
Apps
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© 2015 Software AG. All rights reserved.
Oracle
SAP
Databases
Mainframes
SOFTWARE AG
DRIVING THE SMART INSURANCE
Driving Smart Insurance
www.softwareag.com/insurance
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© 2015 Software AG. All rights reserved.
APJ Partner Summit 2016
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© 2015 Software AG. All rights reserved. For internal use only
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© 2015 Software AG. All rights reserved. For internal use only