Bancassurance Case Study

Armundia Group has supported one of Italy’s leading banking groups in the digital evolution of insurance product placement processes through the Armundia Advisory360 platform.

The solution is fully compliant with the IDD regulations and has been Integrated with the existing information systems. It has enabled the strategic redesign of bancassurance consulting activities by adopting a fully customer-centric approach and offering a highly evolved digital experience.

 

ACTIVITIES

  • Implementation of IDD questionnaires for customer profiling and needs mapping, with target product selection and customer consistency assessment
  • Implementation of Armundia Advisory360 – BANCASSURANCE
  • Integration of Armundia Advisory 360 with the company system
  • Integration of the existing MiFID system
  • Implementation of the equivalent products module for qualitative and quantitative comparison
  • Application management for daily support and system monitoring

Insurance - Armundia Advisory 360

RESULTS

  • 144 banks operating on the system
  • 84,000 proposals since release
  • Approximately 9,500 proposals/month
  • Streamline of the pre-contractual management process of the insurance proposal
  • Unique platform for the management of insurance needs analysis
  • All-in-one platform for managing the insurance needs analysis. Single hub to manage the different companies and consequently:
  • Considerable reduction of operational risks
  • Increased operational efficiency for the client/bank
  • Time saving when defining the proposition
  • More time for the client/Bank to dedicate to further activities of cross-selling and up-selling¬†
  • Surge in the strategic business activities
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