Adriatic Slovenica First in Region to Automate All Steps of Life Insurance Sales and Underwriting
Adriatic Slovenica, whose 15 percent market share propels it into second position among Adriatic life insurance carriers, announces it will soon finalise end-to-end automation. ALLFINANZ Interview Server by
(Logo: http://mma.prnewswire.com/media/471676/Adriatic_Slovenica_Logo.jpg )
Three years ago, Gabrijel Škof, President of Adriatic Slovenica's Management Board, saw that the costs, delays and high error rates of paper applications and underwriting were constricting acquisition of new customers and slowing internal processes. Škof began steps to automate a sales portal for the benefit of insureds, sales teams and the company's bottom line. ALLFINANZ life insurance automated underwriting software was chosen for its global acceptance and business flexibility.
"As the first life insurance carrier in the Adriatic region to automate every phase from application through underwriting to claims," says Škof. "We will enhance market share by delivering superior, faster and clearer service to customers. A contract that once took three weeks to research, investigate and underwrite will soon finalise in minutes."
Last year, Adriatic Slovenica d.d. (AS) rose to 15 percent market share, earned nearly €300 million in premiums, and netted over €14 million in profits. It provides life, health, home/property, vehicle, accident, travel/vacation insurance and retirement/savings plans. Automation will first address life insurance sales and roll out in
Škof explains, "The AS sales staff and brokers are ambassadors for expansion. As ALLFINANZ speeds and clarifies their work with customers, the software also strips out paper steps and human error downstream. It's our double advantage in a competitive market."
AS licensed the ALLFINANZ Interview Server with Rules Designer and Publisher. ALLFINANZ Interview Server is an underwriting rules engine that empowers insurers to automate applications and underwriting at an electronic/mobile point of sale and instantly issue policies.
The sophisticated installation is now being fine-tuned and has been released to its first broker-users, who are receiving full training on its capabilities.
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