Zurich: Modernising Insurance Platforms and Core Technology with IBSuite
Zurich is a Swiss insurance company that provides a range of insurance products and services to individuals
and businesses globally.
Zurich is a Swiss insurance company that provides a range of insurance products and services to individuals
and businesses globally.
THE CHALLENGE
“IBSuite was selected because it is a proven cloud-native end-2-end insurance platform and it has provided us with the flexibility to launch new business models quickly and introduce new channels to the market.”
Stefano De Liguoro Head of Digital Business, Zurich Spain
The Client
Zurich klinc
Zurich is a Swiss insurance company that provides a range of insurance products and services to individuals and businesses globally. Their mission is to help customers understand and protect themselves from risks while supporting them in times of need. They achieve this by providing innovative and customised insurance solutions based on a deep understanding of their customers’ needs.
Zurich believes that insurance is more than just a financial transaction. They prioritise building strong relationships with their clients, and they work closely with them to identify and manage risks before they become problems.
Overall, Zurich is customer-centric and committed to providing innovative and customised solutions, building strong relationships with clients, and supporting sustainability and corporate responsibility.
The Solution
After five months of implementation, the Klinc Solution was launched, providing Zurich with a scalable, digitally-oriented solution incorporating many reusable components.
The Klinc solution boasts 100% automated underwriting and has achieved more than 80% automation of claims, enabling Zurich to offer innovative business models like on-demand insurance, among others.
Increased Customer Engagement
The Klinc platform provides a seamless and convenient way for customers to purchase insurance products and services, making it easier for Zurich to engage with customers and offer personalised solutions.
Faster Time to Market
Zurich can leverage the Klinc platform to launch new insurance products and services quickly, reducing the time and resources required to develop and market these offerings.
Data-Driven Insights
The Klinc platform generates valuable data and insights on customer behavior and preferences, which can help Zurich make informed decisions about product development, marketing, and customer engagement.
Cost Savings
By leveraging the Klinc platform, Zurich can reduce operational costs associated with traditional insurance distribution channels, such as agent commissions and overhead costs.
The Results
The Klinc Solution provides 100% automated underwriting, enabling Zurich to automate over 80% of claims and operate more efficiently. The solution is scalable and digital by design, providing Zurich with the ability to offer new business models, such as on-demand insurance.
Working with IBSuite has also provided Zurich with access to a team of experienced professionals who specialise in insurance technology solutions. IBSuite’s expertise in software development and their deep understanding of the insurance industry allowed them to create a customised solution that met Zurich’s specific needs. Furthermore, IBSuite’s support and maintenance services ensure that the solution is continuously updated and optimised, reducing downtime and ensuring business continuity.
The Klinc Solution and IBSuite’s services have provided Zurich with a modern, flexible, and efficient solution that enables them to better serve their customers and meet their business objectives.