Overview
In 2019, Quantix achieved a key milestone by securing first place in the Elevator Lab organized by Raiffeisen Bank International Group.
This sparked an idea for collaboration between Raiffeisen Insurance Broker Kosova and Quantix, targeted at revolutionizing their operating structure.
The objective was clear: to not only streamline processes but also to serve as a source of inspiration for the whole insurance industry. The entire set of issues led to the introduction of "Insurex for Brokers" - an internal platform built by Quantix exclusively for RIBK to meet their challenges.
About Client
Raiffeisen Insurance Broker is a licensed company by the Central Bank of Kosovo and operates as an intermediary during the preparation of insurance contracts between clients and insurance companies. With over 38 branches in Kosovo, more than 10k clients, and over 5 Partner Companies, Raiffeisen Insurance Broker is the largest brokerage company in the market.
Challenge
As a leading company in the industry, Raiffeisen Insurance Broker, approached the project with a strategic vision. Embracing the power of digital innovation, they wanted to leverage the potential of technological advancement by creating an internal platform to enhance internal sales operations, streamline processes, and elevate client service. In other words, they aimed not only to push their own efficiency, but also to enhance the overall experience of their valued clients.
Solution
Following Quantix’s success in the Elevator Lab, we partnered with Raiffeisen Insurance Broker to improve their internal sales processes. Leveraging Quantix’s expertise in the insurance industry, a customized solution called “Insurex for Brokers” was developed to align with RIBK's objectives and meet their specific challenges.
The entire end-to-end process is within the system, including payments executed through direct debit integration with the bank.
Key Features We Implemented for RIBK
Raiffeisen Insurance Broker, like any other organization, had specific requirements. We created Insurex for Brokers to help them simply create insurance product offerings while both parties remained flexible for additional features along the way.
Automation of quotes
By eliminating manual computations, we introduced automation, making quote generation lightning-fast and error-free. Thanks to this automation, clients can now obtain precise information on the spot in a quick and easy manner.
Simplified policies management
Like any type of operations, manual policy management used to be difficult and time consuming. Insurex for Brokers streamlined the process by making tracking, renewals, and updates more accessible. As a result, clients received excellent service, fostering trust and long-term partnerships.
Analytics and Insights
We integrated advanced analytics and insight technologies to increase the value of data. This data-driven strategy enabled Raiffeisen Insurance Broker to understand more about their team's performance and sales patterns, resulting in informed decisions about their development.
Why Raiffeisen Insurance Broker Chose Quantix
“The collaboration with Quantix started in an internal event called Innovation Lab where the prize draw that they won created a sort of opportunity for us to collaborate. The most important and the key part of this collaboration was their previous experience in the insurance market.” - Fitim Goga, Operational Director at RIBK
Results
Insurex for Brokers noticed a substantial impact on RIBK's operations throughout our collaboration, resulting in high efficiency, newfound productivity, precision in quotes and policy administration, won client trust, and a higher reputation as an insurance solution.
Conclusion
Insurex for Brokers, a customized internal platform, integrated activities from quotes to policy management effortlessly. This innovation increased efficiency, productivity, and client trust, thereby strengthening RIBK's position as an industry leader. The collaboration illustrates the potential for insurance to go through significant transformation. It serves as an inspiration for the entire sector, demonstrating the attainability of excellence, efficiency, and top-tier service through streamlined processes and client-centric solutions.
Let's talk We’re always open to discuss your game changing idea over a coffee talk. Try us and submit yours.
.webp)