Integ­ra­tion pro­ject for Basler Insurance

Stra­tegic con­sult­ing platform

The res­ult

With Omni­um, Basler Insur­ance has a com­pre­hens­ive digit­al con­sult­ing plat­form that is used extens­ively by both the­sales team and experts.

The main focus is on pen­sion pro­vi­sion and pen­sion plan­ning. As res­ult of using also oth­er mod­ules such as tax and invest­ments, Basler Ver­sicher­ung can offer hol­ist­ic con­sult­ing ser­vices as well as bene­fit from the eco­nom­ies of scale of a com­pre­hens­ive IT solution.

The ini­tial situation

The indi­vidu­al solu­tion of Basler Ver­sicher­ung for pen­sion ana­lys­is and invest­ment con­sult­ing was tech­no­lo­gic­ally out­dated. Cal­cu­la­tion ser­vices for pen­sion ana­lys­is were already provided by Brain­group at that time.

Basic ele­ments of the old solu­tion such as an attract­ive and intu­it­ive front end had been already tried and tested. Keep­ing it simple while provid­ing for com­pre­hens­ive func­tion­al­ity was a spe­cial focus when devel­op­ing the new solution.

The vis­ion was con­sult­ing on a hol­ist­ic level, includ­ing an omni­chan­nel strategy. The solu­tion also had to sup­port basic con­sulta­tions as well as spe­cial use cases by experts.

The pro­ced­ure

Basler Ver­sicher­ung was aware that high accept­ance of the soft­ware solu­tion among advisors is a key factor for suc­cess. There­fore, many front­line employ­ees were involved in the eval­u­ation pro­cess in which Omni­um received the highest marks of all the providers.

The intro­duc­tion of a com­pre­hens­ive con­sult­ing solu­tion requires adjust­ments in vari­ous areas. Some of the import­ant ele­ments in the pro­ject were:

  • Basler Ver­sicher­ung were one of the first Omni­um cus­tom­ers. The pen­sion mod­ule was func­tion­ally exten­ded to meet experts’ needs.
  • It turned out that the con­fig­ur­a­tion options and flex­ib­il­ity of Omni­um are so great that there was no need for addi­tion­al cus­tom­iz­a­tion of the product. Cus­tom­iz­a­tion was lim­ited to visu­al ele­ments in the fron­tend and cus­tom­er print document.
  • Even before the pro­ject star­ted, it was clear that integ­ra­tion of Omni­um into the sur­round­ing sys­tems is a cent­ral factor. Integ­ra­tion is key in order to improve effi­ciency and to achieve a high level of user accept­ance. At the same time, such integ­ra­tions are expens­ive and increase pro­ject com­plex­ity. There­fore, only a par­tial integ­ra­tion was done- at a level that provided the optim­um cost-bene­fit ratio.
  • An import­ant part of the pro­ject was the com­pre­hens­ive train­ing of all employ­ees in the con­sult­ing depart­ment.. This ensured that advisors could use the tool in cus­tom­er con­sulta­tions with great con­fid­ence and real­ize it’s benefits.

The advant­ages

  • Basler Ver­sicher­ung has estab­lished a com­pre­hens­ive digit­al con­sult­ing plat­form that guar­an­tees high qual­ity and efficiency.
  • Omni­um can be used for both short con­sulta­tions and com­pre­hens­ive expert consultations.
  • The intu­it­ive front end makes it easy for new employ­ees to get quickly used to the con­sult­ing tool.

Suc­cess Story of Basler Insur­ance

«Omnium’s omni­chan­nel approach to con­sult­ing and archi­tec­ture are right on target.»

Mat­thäus Beer, Head of Pen­sions and Assets at Basler Versicherung

Basler Ver­sicher­ung focuses on the chan­ging assur­ance and ser­vice needs in the digit­al age. With Omni­um, the hybrid con­sult­ing approach is con­sist­ently pur­sued. Cus­tom­ers and con­sult­ants are put at the cen­ter of this.

The mer­ging of bank­ing and insur­ance ser­vices con­tin­ues to pro­gress.
The stra­tegic approach of Basler Ver­sicher­ung to fur­ther devel­op the con­sult­ing-intens­ive busi­ness required an invest­ment in a nov­el and future-proof fin­an­cial con­sult­ing software.

Two pop­u­la­tions — one solu­tion
The invest­ment and pen­sion tools pre­vi­ously used by Basler Ver­sicher­ung had reached the end of their life cycle. Mat­thäus Beer, Head of Pen­sions and Assets at Basler Ver­sicher­ung, explains: «On the one hand, we have to meet the needs of a broad pop­u­la­tion of around 700 cus­tom­er advisors through­out Switzer­land regard­ing pen­sion plan­ning. At the same time, we want to meet the dif­fer­ent needs in the invest­ment area.»

Omni­um cov­ers these extens­ive require­ments for pro­cesses, visu­al­iz­a­tion and flex­ib­il­ity very well. It con­nects the advisor and theme worlds of Basler Ver­sicher­ung and meets the require­ments of cus­tom­ers and advisors alike.

Prom­ising approach to a solu­tion
«We focused on equip­ping advisors with an intu­it­ive tool. In a second step we focus more closely on the cus­tom­er». Mat­thäus Beer is con­vinced: «If the advisor tool is fully accep­ted by the sales team, they are will­ing to get involved and sup­port the defined pro­cesses in the long term. This in turn is felt pos­it­ively by the cus­tom­er.» With Omni­um, the cli­ent advisor is empowered to pur­sue the hybrid advis­ory approach for all fin­an­cial top­ics with­in one sys­tem: away from isol­ated expert tools to a hol­ist­ic advis­ory suite. The archi­tec­ture and func­tion­al­ity of Omni­um mod­ules are designed to be rel­ev­ant for both insur­ance and banking.

Cus­tom­er loy­alty as a con­sequence
Omni­um at Basler Insur­ance rep­res­ents qual­ity assur­ance for the advisor. The func­tion­al­it­ies are pack­aged in a clearly defined pro­cess while depth of detail can be adjus­ted. As a res­ult, cus­tom­ers enjoy trans­par­ent and clear advice that they under­stand. A happy cus­tom­er is a loy­al customer.

Future oppor­tun­it­ies
«The employ­ees of Brain­group had a clear vis­ion with Omni­um from the very begin­ning, which they are still driv­ing for­ward today with a great deal of innov­at­ive spir­it,», says Mat­thäus Beer. He also appre­ci­ates the pro­fes­sion­al and open exchange among each oth­er. Baloise will con­tin­ue to pur­sue its chosen path with Omni­um in the future. The added value is increased by provid­ing cus­tom­ers and advisors with even more sup­port in all life issues. This will bring con­sult­ing and solu­tions closer togeth­er in the future, from which both sides will benefit.