Digitisation in insurance companies – individually or together?

In the private client business, insurance companies rely on individual solutions that are widely accepted. The situation is more difficult with corporate clients. Swissdec offers an opportunity to establish a nationwide solution. But there are a number of obstacles to overcome. Digitalisation of business processes is very important for insurance companies. The exchange of information with corporate clients plays an important role. In the area of private customers, there are already solutions that are actively used by the users. For corporate clients, a solution is not so obvious. Swissdec’s Swiss Performance Standard is a great opportunity to advance digitalisation in cooperation with customers. In addition to the Swiss Performance Standard, a solution such as Swissdec Enterprise Authentication (SUA) is also needed to ensure security in data exchange. The wish or requirement would also be that it is not only a solution that applies to Swissdec, but can also be used in the other digital business processes. This still requires a comprehensive dialogue among the companies, but also with the organisations that support such an application. At present, no definitive dates are known as to whether and when the insurance companies will introduce the Swiss and SUA performance standard. This is partly due to the fact that the cost-benefit assessment has not yet been completed and the dialogue with the companies also takes time. Understandably, the insurance companies are trying to offer their own differentiating solutions to their customers, but this cannot be the goal from the customer and application point of view. It would also be incomprehensible if every bank offered its customers a credit or debit card that could only be used with that provider. As a rule, one waits for a pilot solution to emerge in the market or to be successfully implemented. Actually, the need for such a further development is evident for all insurers.

Thanks to ERP, 20 insurance companies are already participating

Since many projects are pending and the allocation of resources for such a project is in competition with other projects, the “speed” is somewhat dependent on the usability of the application in analogue business processes. This is now the challenge to devote enough attention to the topic and also to find the business leaders who work on the implementation of such an important and necessary process for the customers. It is very positive that a considerable number of enterprise resource planning manufacturers, who know the needs of the customers very well, have found each other and are taking the preliminary work in hand together with Suva. More than 20 insurance companies are already participating in the Swissdec solution, which also guarantees that a very large number of customers will be able to benefit from the solution when it is implemented on the market.

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AUTHOR: Christoph Rothenbühler

Christoph Rothenbühler heads the Health & Accident department at Allianz Suisse. He is responsible for product development, product management, underwriting and the associated processes for personal insurance non-life group daily sickness benefits (salary replacement) and accident insurance.

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