The insurance industry is changing at a rapid pace and those companies who don’t integrate and modernise their software systems risk being left behind. IT isn’t something that the customer can see, but it is the gearbox which makes the quote engine work, and the framework which allows AI algorithms to make sense of the data that is being processed every single day.
Industry giant Zurich has recently signed off a project with CapGemini, overhauling its entire German market operation. Here’s the word from CapGemini;
In collaboration with Zurich Gruppe Deutschland, Capgemini completed one of the largest digital transformation projects in the German insurance industry. The successful rollout of Guidewire InsuranceSuite™ took place within 21 months and modernized Zurich’s core insurance systems.
It is the first time that the Guidewire core insurance platform has been implemented in its entirety in the German insurance market. Zurich Germany is leveraging InsuranceSuite for all its private insurance business including personal liability, home and building insurance. At the height of implementation work, more than 120 German speaking insurance experts, IT architects and software developers from Capgemini were working on the project.
Dr. Klaus Endres, Chief Operating Officer at Zurich Germany said, “Large scale projects like this one are usually long term, but together with Capgemini we managed to implement the insurance platform in record time.”
Horst Nussbaumer, Chief Claims Officer at Zurich Germany adds, “The system enables us to perform faster and in a more agile way, and allows us to maintain an attractive product offering for modern insurance needs, and to continually improve service experience for our customers.”
Detlev Froese, Head of Financial Services at Capgemini in Germany said, “Many insurers currently face the challenge of renewing their core insurance foundation. Zurich has successfully taken this step and built the necessary precondition for remaining a strong actor in the future insurance market.”