Digital transformation has permanently altered the relationship between customers and companies. Customers expect fast answers and personalized service from the businesses they patronize. And when they don’t get it, their cost of change is nearly zero. That has put the burden on companies to develop channels that can deliver new, innovative products and exceptional levels of personalized service and digital experiences.
In the insurance industry, where the insurer-broker channel remains important, that’s a critical differentiator. Insurers that sell through brokers to consumers must not only be pricecompetitive, they must also make it easy for brokers to generate quotes, issue policies and deliver service to their customers after the sale.
As the insurance market has changed, so has the Baloise. To remain competitive and retain and grow its broker channels, Baloise needed to become one of the most accessible insurance companies in the market, and offer an “any device, any channel” end-user experience that is both consistent and personalized.
“We want to take a prominent place in this landscape with a flexible, open IT system and an engaged partner. DXC is that partner, a large international IT services company having all the necessary competencies to support us and to invest in a real partnership — a partner we can count on in every circumstance.”
Marc Wouters Chief Operations Officer, Baloise
Clean sheet opportunity
To achieve these objectives, Baloise chose DXC Assure Digital Platform. Baloise selected the DXC insurance software platform over competitors because of the multiline functionality of DXC’s GraphTalk policy administration system.
Based on the already successful relationship between the two companies, DXC and Baloise worked in a co-development model to meet the company’s immediate need for general insurance, followed soon after by systems to support the company’s life insurance business. DXC application development specialists performed a range of tasks to build out the carrier’s entire IT landscape, including workflow and systems integration. DXC insurance application experts also established general ledger, business analytics and printer/document management solutions, and provided hosting services.
The DXC Assure Digital Platform was chosen to help Baloise offer a personadesigned user experience (UX) across all channels — including web, tablet and mobile forms.
The DXC Assure Digital Platform enables consumers, insurers, agent/brokers, vendors, adjusters and other persona-derived participants to interact, share services and data and participate in their part of the insurance process anywhere and at any time.
The DXC Assure Digital Platform is available in the cloud as Software as a Service (SaaS) and exposes the API to be used by a third-party insurance application fully integrated with Baloise back-end systems of record, such as policy administration and claims processing. This platform could also be integrated with customer relationship management (CRM), analytics and a broad range of services from DXC’s partner ecosystem.
In addition, DXC’s reference APIs, based on its deep industry experience and 40+ years in the core systems software business, provide true extensibility. Baloise can extend the platform, making changes and tailoring it as it builds out the company’s broker engagement functionality without disrupting the underlying core capability. The APIs are focused on interaction and give the company the ability to engage with brokers and deliver an efficient, userfriendly experience across all channels and via all devices.
An ongoing successful partnership
The DXC Assure Digital Platform enables consumers, insurers, agent/brokers, vendors, adjusters and other personaderived participants to interact, share services and data and participate in their part of the insurance process anywhere and at any time. Baloise can accelerate purchasing and claims resolution cycles, thanks to end-to-end digital workflows and straight-through processing. Baloise reports that since implementation of the DXC Assure Digital Platform, it has seen substantial growth in the volume of broker requests. Issued business from brokers has increased by 50 percent.
Comprehensive insurance application services such as those provided to Baloise are successful only when built on a strong, trust-based relationship. Consistent transparency has helped both companies work through implementation of the policy administration system. Every 3 months, the teams meet for a strategy session review, where DXC outlines its overall strategy and new solutions. At the session, Baloise offers new insight into its direction.
“We want to take a prominent place in this landscape with a flexible, open IT system and an engaged partner. DXC is that partner, a large international IT services company having all the necessary competencies to support us and to invest in a real partnership — a partner we can count on in every circumstance,” says Marc Wouters, chief operations officer at Baloise.