Expand insurance market: How to transform an insurance multi-agency into an industry leader?

In today’s digital era, the applications we use daily process vast amounts of data, providing us with what is essential at any given moment. Regardless of where this information comes from, our focus is primarily on its outcome—the fact that it is available. End-user expectations revolve around the ergonomic use of applications, easy access to relevant information, fast performance, and an attractive appearance. Building a suitable graphical interface used by many users is undoubtedly an interesting challenge. However, more crucial is constructing it to deliver the right information to the user and in a way that allows full integration of our solution with other systems.

API Interface – the key to efficiency and system integration

This is where the Application Programming Interface (API) comes into play—the ability for bidirectional data exchange between the system and other applications. Importantly, this data exchange via API occurs in real-time. Utilizing the API interface in insurance systems is the key to always using up-to-date data and directly transferring the results of business processes to linked systems.

One of the most significant challenges facing insurance multi-agencies is the need for efficient information exchange between different platforms. Often, outdated solutions are encountered that cannot ensure immediate data synchronization, leading to delays, errors, and time loss.

Automation and data updating in the sales process

Every process involving insurance quote preparation starts with entering the required data. The quality of these data significantly influences the time spent on quote preparation, policy issuance, and potential data corrections on the policy through addendums. Therefore, the VIP system provides an interface through which data needed for calculations can be continuously transferred from other systems, such as the leasing system. Users do not have to enter them manually; they only need to select the appropriate sets from the system database. In addition to transferring new insurance items and entities to VIP, the system allows data updates in real-time, e.g., when data in the leasing system has changed. This ensures that during policy renewals, especially in the mass and automatic policy renewal process, insurance proposals operate on always up-to-date data. In simple terms: we eliminate errors and gain time.

Full sales process in collaboration with VIP

Our platform is designed to enable the start of the calculation process directly from the leasing system, where data is stored. Thanks to the appropriate API interfaces, it is possible to prepare an insurance quote and issue a policy without involving the user in handling calculations in the VIP system. This allows employees using the leasing system to prepare an insurance quote at a very early stage of customer conversations. Through the API interface, all products configured in the VIP system, both motor and property insurance, are supported. This operating model allows VIP system users to focus on after-sales service and prepare quotes for more complex cases.

Integration with the entire environment

We have also ensured that policies and documents generated by our system can be easily transferred to other systems, such as a data warehouse, billing system, document repository, or the customer’s eBok account. We have introduced Webhook notification functionality into the VIP system, which informs about various events, such as policy or addendum issuance. This allows appropriate systems to directly retrieve data of interest from the VIP system after a business operation. This solution applies to both policies issued within the VIP system and those generated using the API interface.

Moreover, the VIP system allows not only policy data but also prepared settlement reports, dedicated reports for specific insurance products, and policy exports to be shared easily.

VIP as a product engine

Thanks to the extensive configurability of the VIP system in creating insurance products and using API for tariffing these products, new possibilities arise for utilizing this solution. Offers generated by different engines are now aggregated in one place and then transmitted via API in a coherent form. A single integration with the VIP system via API allows the use of all insurance tariffs and all online integrations with insurance companies that VIP possesses. This allows the burden of expanding integrations with additional insurance companies to be shifted to the VIP system without the need for changes in the integrated system. An additional advantage of the solution is elements that can be independently configured by VIP system users, such as the ability to independently create insurance products, modify tariffs, manage document templates for policies, quotes, and other insurance handling generated documents. This creates conditions for independently defining insurance products and quotes that will be presented in the integrated system.

One system – unlimited benefits

The VSoft Insurance Platform is a solution that seamlessly integrates with existing systems. It allows flexible configuration by choosing the necessary functions from the provided API. Furthermore, the VIP Platform can operate independently, regardless of supporting external systems. VIP adapts perfectly to the individual requirements of the enterprise, providing not only cost savings but also quick and seamless customer service.

Explore the detailed description of the functionalities of the individual VSoft Insurance Platform modules and see what benefits VIP can bring to your insurance multi-agency.

We have been in the market for more than a quarter of a century. From the beginning of our adventure, we knew that we did not want to be just a passive solution provider. We have always focused on the exchange of knowledge and experience. We are eager to dig deeper into topics we consider relevant, especially within the industries we work with on a daily basis. We are eager to analyze and discuss technological changes and share our own thoughts. We show how we learn from our mistakes and what actions we are proud of.

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