Tag: Insurance System

The first edition of Digital Vendor Day

20 June 2024

We invite you to the conference “Leasing and insurance”!

24 November 2022

Next Monday (November 28, 2022) we invite you to a hybrid conference bringing together experts from the leasing and insurance industry entitled “Leasing and insurance” – organized by the Związek Polskiego Leasingu (Polish Leasing Association). The purpose of the event is not only to exchange experiences of the above-mentioned industries but also to identify areas for cooperation, exchange of information and data, as well as to identify actions that can improve the security of assets, transactions and procedures. As a supplier of software in the area of insurance, including for leasing companies, we are very aware of the technological needs

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Digitization in insurance: technological race or a real business-changing value?

Digitalization and new technologies have become a central topic in the insurance industry. Technological progress and growing customer expectations force companies to implement modern digital solutions. During each industry conference, experts, market leaders and innovators discuss their potential, looking for solutions to secure the future of the insurance sector. InsurTech technologies tempt with the promise of simplified processes and personalized offers and seem to be an ideal solution. However, it is worth remembering that it is not enough to simply follow trends. Investments in digitization – the data speak for themselves According to industry reports, global investments in InsurTech amount to millions of dollars every year. The report of the Polish Insurance Chamber indicates, among other things, that in recent years as many as 80% of insurers have increased their financial spending on technological development and over 90% of insurance companies are actively involved in the process of modernizin...

InsurTech: Key criteria for selecting a system and a technological partner

The InsurTech sector supports the way insurance companies operate, both at the level of product creation and product distribution. Modern solutions can significantly improve operational efficiency and user experience. Choosing the right technology partner is essential for achieving success in this area. Below, we provide an overview of important criteria that are worth considering when deciding to implement InsurTech solutions in your company. Partner experience Let’s begin with the company. When choosing a technology partner, it is worth paying attention to its experience in the insurance industry. Partners with many years of experience in implementing InsurTech solutions may provide valuable information and best practices. It is important for the partner to understand the specific character of the insurance market and to be able to adapt their solutions to the unique needs of the company. It is also worth paying attention to the experience of the team of the technology partner. A team with proper...

The first edition of Digital Vendor Day

The first edition of Digital Vendor Day is behind us! We had the pleasure of participating in this unique meeting, which took place on June 18 in the Rotunda of PKO BP in Warsaw and brought together the largest leasing companies and solution providers supporting the digitalization of the sector. The event, organized by the Polish Leasing Association (ZPL), proved to be an excellent platform for sharing experiences, ideas and best practices.Digital Vendor Day allowed us to present our advanced solutions, such as VSoft Insurance Platform, which can significantly improve processes in the leasing industry. VSoft's solutions, presented by our experts Anna Kurek-Planeta and Grzegorz Skulimowski, were met with great interest by the participants, which resulted in many valuable discussions and conversations.The meeting was of great value to us and provided an even better understanding of the challenges and needs of leasing companies. Digital Vendor Day was a unique event that successfully met its objectives, enabling...

Insurance Product Management

In our latest blog post, we discussed the API interface, sales processes, and an insurance system that can serve as a product engine for other systems. We would like to expand on this last topic related to the product engine, focusing on the management of insurance products. Let's start by defining what an insurance product is. Insurance Tariffs Not so long ago, all policies were tariffed by applications on the insurance agent's side, based on offline tariffs, commonly known as flat rates. Currently, more and more insurance companies provide their tariff using web services, i.e., online. In this approach, the tariff owner can modify its parameters at any time, taking into account many external factors affecting premium calculation. Insurance companies use additional online information sources to consider more parameters when calculating premiums, such as solutions like CEPIK or UFG. These tariffs are called dynamic.Handling tariffs in both models requires the insurance system to have appropriate supp...

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 syste...

We invite you to the conference “Leasing and insurance”!

Next Monday (November 28, 2022) we invite you to a hybrid conference bringing together experts from the leasing and insurance industry entitled "Leasing and insurance" - organized by the Związek Polskiego Leasingu (Polish Leasing Association). The purpose of the event is not only to exchange experiences of the above-mentioned industries but also to identify areas for cooperation, exchange of information and data, as well as to identify actions that can improve the security of assets, transactions and procedures.As a supplier of software in the area of insurance, including for leasing companies, we are very aware of the technological needs of the industry. We know which direction of development is worth focusing on and what functionalities will contribute to improving work both within the organization and the entire end-customer service process.During the conference, Jakub Głąb, development and sales director of VSoft, will talk about how to digitize a company using a low-code platform, which will help incr...

Sales of insurance as well as motor and property products by leasing companies

Leasing companies are increasingly offering insurance products. In order to keep up with the growing demands of customers, insurance departments, including those at leasing companies, are seeking new and innovative solutions aimed at facilitating service and working with clients. It is worth noting here that an attractively priced and timely offer is only part of the process. Leaseholders, when looking for the right terms for themselves, often expect an equally comprehensive, fast and hassle-free service once the contract has been concluded. This poses a challenge for the company to ensure that, at every stage of contract processing, everything is organised and performed right away. It turns out that properly structured systems for the insurance industry can be the key to success in such situations. Leasing companies and cooperation with an insurance company and intermediaries Leasing companies frequently choose to work with Insurance Companies (IC) and brokers. Although leasing companies often use t...

Insurance Policies Factory: Speed in the leasing industry

The hackneyed topic of the article hides many dependencies, the end result of which is efficiency and a measurable business effect. But does this have anything to do with insurance? It turns out it does. And quite a lot. Development of the leasing market Recent years have shown the scale and speed of development of the leasing market. And it is not only about the funds that are allocated to financing the leased items. Companies systematically supplement their offer with additional products, preparing entire packages of services supplementing financing proposals for their clients. For many companies, it is a significant source of income.One of the most popular cross-selling products are, above all, motor insurance (collision, comprehensive, assistance), GAP and property protection. Their increasing number, as well as the multitude of variants and configurations not only meet the market expectations. There is also an emerging IT challenge aimed at ensuring fast, comprehensive and problem-free customer ...

MultirRIA turns 10 years old

This year marks the 10th anniversary of the product implementation at PKO Agencja Ubezpieczeniowa and PKO Leasing (then Raiffeisen Insurance Agency and Raiffeisen Leasing Polska SA): a system for sales and comprehensive policy service.Source: Gazeta Ubezpieczeniowa. MultiRIA in Insurance Agency MultiRIA improved the operational activity of the Agency by automating the processes of offering, and policy and after-sales service of own policies (including annexes, cancellations, and withdrawals). It accelerated the renewal and management of third-party policies, as well as the recording and management of total and partial claims. The application allows you to export sold policies to invoicing systems and to issue e-policies for download from the customer portal. The system enables settlements with insurers and repair shops. It is integrated with many external systems.MultiRIA is still regularly developed and improved and has undergone many changes. Over the decade, it gained a lot of functionality, produ...

Insurance policies factory: A technological step forward

For a distributor of insurance products, the use of their own IT system means primarily the ability to offer customers products from many companies, without the need to log into portals created by specific companies. In addition to the comfort of choice, which is undoubtedly extremely important for the customer, our own system significantly simplifies the distributor’s billing or reporting processes. Webservice technology and the cooperation of an insurance multiagency with an insurance company Recently, during business talks with the leasing industry in which I participated, the word webservice was mentioned every second sentence. It often constituted the core of the presentation, the axis of the discussion and the point of reference in designing technological changes in the distributor’s systems.We can ask ourselves: why is this happening? Is it a fashion, a trend, or maybe the invisible hand of the market? Why is the use of webservice technology in the cooperation of an insurance multiagency w...