Photo: Claus Lehmann
It doesn’t take any longer to conclude a motor insurance policy at HDI Seguros. This is because the Brazilian insurer only needs three pieces of information about the customer in order to calculate the premium – the tax number, the vehicle registration number and the postal code. The result: In no time at all, customers receive a personalised proposal and a package of recommended additional benefits on top. The developers at HDI named this innovation “One Click”. The name represents a commitment and a promise at the same time. Generally speaking, an insurer usually requires dozens of details from its customers in order to calculate an appropriate premium. Using the traditional models that were applied until recently, the calculation still took HDI Seguros an average of three minutes to carry out.
Big Data and the use of Artificial Intelligence (AI) make this possible. HDI has a great deal of data available that allows the insurer to augment the three items of information supplied by the customer, such as georeferencing data: If, for example, the potential customer lives near a police station, the risk of their car being stolen is significantly less. AI uses the large amount of information to calculate virtually identical results to those arrived at using the methods of traditional premium calculation.
As simple as Amazon
HDI also linked this system up with an algorithm that issues recommendations and tailormade proposals for customers. “This purchase experience is similar to online shopping,” said Fabio Leme, Technical Vice President of HDI Seguros. “A number of years ago, we already recognised that customers expect the processes at insurers to be as simple as when they consume other products and services.” Since then, HDI has been working hard at the digitalisation of processes and innovations. The initial highpoint came last year when the insurer joined forces with Santander – Brazil’s third largest bank – to launch a new digital insurer. This was an innovation that completely digitalised the sale of motor insurance policies. Within the space of just one year, HDI has already reduced the number of items of data required from five to just three. This has massively streamlined sales.
Winner of the Transformation Award
“The digital transformation is a continuous process which can and indeed should be continuously improved,” commented Fabio Leme. “At HDI in Brazil, we would always like to offer our partners and customers the absolute best. That’s why nothing can be more effective than understanding how important the daily transformation of our work is and that every little procedure can still be improved further.” This approach was recently saluted from within the entire Talanx Group: HDI Seguros won the first Transformation Award in the Group with “One Click”.