Digital Transformation – Development of a Digital Insurance Platform
Client:
Euroins Insurance Group AD is one of the largest independent insurance groups operating in Central and Eastern Europe. The group is focused on delivering a full range of insurance products in the areas of general, health and life insurance. With operations in 14 countries, more than 4 million customers and over 3,000 employees, its operational complexity is significant.
Challenge:
When COVID-19 pandemic hit Euroins found it very difficult to keep utilising its working model mostly based on offline processes and interactions. The technology innovation in the insurance industry model have been growing rapidly in the recent years rapidly moving into a near full digitalisation of most customer facing operations.
Their clients wanted and during the pandemic needed a digital access to their services, as well as being able to manage existing policies with Euroins with few clicks, without having to visit one of their offices.
Moreover, the digitalisation was inevitable, since greater number of their customers wanted a more cost-efficient services, which is allowed by having online self-service options which optimised the operational expenditure. Having only in-office service was keeping Euroins behind from their competitors, who were already starting their digitalisation and that consequently led them to loosing loyal clients.
Solution:
Euroins concluded that they must digitalise their processes in order to stay competitive on the market. In order to do so, they contracted eLando AD to provide them with a viable solution based on the excellent specialty and vast experience in the InsureTech, eLando possess.
Gaining eLando as a trusted Tech Partnerr, Euroins secured themselves with a team of 6+ technology experts including solution architect, software engineers, quality assurance
specialist and a project manager, to tackle the lack of digital technology in their working model as well providing self-service options online to their clients. The team built a successful “Client
portal” platform from scratch which allowed Euroins to provide eServices to their customers for 10 of their products – from home and car insurance to tourist insurance policies.
We have created and built the technology solution using a robust enterprise-grade technology stack consisting of .NET Core, React, Azure, PostgreSQL.
Furthermore, while creating the digital platform from scratch, our specialists used modern technology and software development practices available such as Microservices architecture and Agile methodology. Assuring resilience, scalability, security and future-proof relevance of the system.
Result:
After eLando became the trusted Tech Partner, Euroins managed to enhance their processes digitally, which led to securing new international clients and put the company in leading positions in the regional market, all due to the help and technological skills of our specialists who developed a modern client portal system.
Additionally, the system was designed to handle large volume of traffic into the client’s portal which increased the customer satisfaction rates. It also dramatically lowered the cost of issuing policies comparing to the offline, paper and office-based approach which was dominant for the client beforehand.