Makeitright 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.
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:
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:
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.
When cooperating with Generali, we faced three major challenges.
Organizing data reported to the Insurance Guarantee Fund
Generali worked on six systems, which made it difficult to effectively report to the Insurance Guarantee Fund. In order to integrate the systems into one, we first had to determine what data will be exchanged between Generali and UFG and what data is missing in the current systems.
Online data transfer
The implementation of the BrokerUFG solution was to enable the company to transfer data from the insurance system to UFG online. So that the exchange of information between the two parties is automated.
Gaining a high position in the UFG ranking
Every year, UFG publishes a ranking of the best insurance companies
in terms of data quality. In order for the company to take a high place in the ranking, we had to ensure the timeliness, completeness and unambiguity of the transmitted data.
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, Makeitright has improved the sending of responses to UFG inquiries. The project carried out by Makeitright translated into lowering the costs of maintaining IT infrastructure and allowed us to use its potential to develop other important areas of the company.