How we integrated six insurance systems into one and raised the quality indicators in the UFG ranking

How to get first place in the ranking of insurers of the Insurance Guarantee Fund

Introducing a new brand to the market and shortening the purchasing path to 60 seconds

June 12 2022

ProService Finteco company organized data from six insurance systems and executed a unified data reporting system to UFG during the implementation for Generali. We created an online feed for UFG and improved the responses to its inquiries. All that was possible thanks to our BrokerUFG solution, offered in the SaaS service model.

In the case study, we share the challenges we faced and the problems we had to solve to integrate the six systems into one, as well as the benefits that the entire process brought to the client.

The Client

Generali Polska is a part of the Generali Group, one of the largest international financial and insurance groups, operating in the financial and investment sector for over 185 years. The Generali Group has been present in Poland since 1998.

It builds its strength by focusing on a diversified business model based on three key areas: protecting the property and life of individual clients, managing retirement savings, and corporate insurance.

More about Generali: www.generali.pl

Defining the client's situation

Generali, as a company with an established position on the market, had many insurance systems – some of them came from acquired companies, some of them belonged to Generali and were in the process of data migration, and some were implemented with a view to the future integration of systems.

Each insurance company has its own history in the Insurance Guarantee Fund (UFG). If a company has several systems, like Generali, its data is stored independently of each other.

On the operational level, maintaining separated data generates additonal problems:

It does not reflect the current structure of the organization

It makes it difficult to exit old systems, complicating data migration and cooperation with the regulator

Increases maintenance costs and increases the complexity of the IT infrastructure

Generali concluded that it must rewrite its mechanisms in the Insurance Guarantee Fund (UFG) or reach an offer from the market that will help organize reporting to the Fund. As part of the cooperation, we proposed building a solution for the entire Generali based on our proprietary BrokerUFG solution and integrating all systems into one.

Challenges

Solutions

Outcomes

Challenges

Solutions

Outcomes

What does the client say about us?

"

“Thanks to implementing the BrokerUFG solution, we were able to report our policies to UFG on the same day, which translated into an increase in our quality indicators in the UFG ranking. Additionally, BrokerUFG has improved the sending of responses to UFG inquiries. The project translated into lowering the costs of maintaining IT infrastructure and allowed us to use its potential to develop other important areas of the company”

Building an integrated system for a new insurer in 6 months and with a minimum financial outlay

Introducing a new brand to the market and shortening the purchasing path to 60 seconds

How to get first place in the ranking of insurers of the Insurance Guarantee Fund