Talanx strategically drives digitalisation forward

“Digitalisation is bringing about more fundamental changes in the insurance sector than any other technological advance during recent decades,” said Herbert K. Haas, Chairman of the Board of Management of Talanx AG. “Our own digital transformation will therefore be a key factor for our future success. This is not simply about processes, products and customer interfaces, but also about a change in culture. Digitalisation is more than programs and processes. Digitalisation starts with people. Talanx primarily perceives digitalisation as an opportunity. We want to become more agile and faster, more efficient and even more attractive to our customers, without neglecting the insurance collective. Our digital projects and measures have enabled us to make big advances. Digitalisation supports the profitable growth of the Group.”

Start-ups as stimuli for ideas

Talanx is committed to partnerships with start-ups. The Group has invested in the Elinvar platform, which offers asset managers a complete digital value added process. Talanx has also concluded partnerships with the Plug and Play innovation platform (Silicon Valley) and the start-up accelerator Startupbootcamp (London). The Group hopes that these cooperations will yield new ideas and momentum for key customer interfaces, and also new approaches for agile working so as to drive forward cultural changes. The Group is also reviewing –currently in pilot phases – cooperation with two other start-ups. Firstly, an analysis is being carried out to establish whether a solution can expand the existing ARGOS risk analysis system at HDI Global. Moreover, software from a start-up is being used at Polish insurer Warta that can predict with a high degree of accuracy which customers will conclude contracts.

Digital Studio permits worldwide adaptation of digital solutions

Talanx has set up its own digital studio where digital solutions are developed in an agile and lean process. The team at the digital studio is currently working on two overarching solutions for Retail Germany and Industrial Lines. They are developing a global portal to provide digital support for setting tariffs and making proposals in the segment for small and mid-sized companies. They are also programming a telematics app for the mobility world of experience in order to expand the offerings in the motor line of business.

Retail International: Data evaluation for better adjustment to customer needs

The Retail International Division is applying innovative analytical tools for evaluating existing databases. This has enabled Talanx to identify 1.7 million customers in Brazil over the past two years and offer them much more selective and attractive offers. At the same time, the Group has been able to optimise the risks. Around five percent of the motor premium income at Talanx International in Brazil originates from analysis of existing data. Similar procedures are being used in Italy to identify cases of fraud more effectively. This approach is allowing Talanx to enhance its profitability and, most importantly, protect the insurance collective. In 2016, eight percent out of around 100,000 suspicious claims were investigated in Italy. These claims would not have been identified by conventional approaches to combatting fraud.

Industrial Lines: precise analysis of natural catastrophes

The Industrial Lines Division is using new methods to evaluate multifaceted and complex risks. HDI Global has developed software that analyses and visualises all types of local natural catastrophes in a very precise way at the touch of a button. The ARGOS application (Accumulation Risk Geospatial Online System) – a digital geo-information system – is thereby making a substantial contribution to claims prevention. Furthermore, the division offers “One Portal” to its business partners as a unique platform for digital solutions along the value chain and meets their desire for simple and fast solutions.

Retail Germany: stronger customer orientation possible

The Retail Germany Division has developed a number of solutions including an app entitled “HDI hilft” (HDI helps), which will allow customers to process motor and property claims in an entirely paperless procedure in future. A top priority in this process was to ensure that customers possessing a lower level of affinity with technology can use the application without problems. The app has already been applied in 13,000 cases. HDI has accelerated and optimised the process of claims settlement with the app and increased customer satisfaction as a result. The same is true for the HDI baVnet Online Portal. Today, more than 500 employees as customers are managing around 55,000 contracts for occupational retirement provision – thanks to a uniform and simple approach to administration.