Digital Transformation of Euroasia Insurance Processes
Comprehensive digitalization of insurance processes that increased conversion by 340% and reduced policy registration time from 2-3 hours to 5 minute
The Euroasia Insurance approached us with the task of comprehensive digitalization of the company's insurance processes. The main goal was to create a unified digital ecosystem that would allow clients to purchase policies online, automate insurance claim settlement processes, and improve the overall efficiency of the company's operations. The project was to cover all insurance areas: from auto insurance to innovative solar panel insurance.
We began with a deep analysis of Euroasia Insurance's existing business processes and conducted interviews with key stakeholders. Based on the data obtained, we developed a digital platform architecture that included a microservice structure to ensure scalability and reliability.
The first stage was the development of a web platform for online policy registration with an intuitive interface. We created a responsive design optimized for both desktop and mobile devices. Special attention was paid to UX/UI design to ensure that the policy registration process took no more than 5 minutes.
To ensure security, a multi-level protection system was implemented, including two-factor authentication, data encryption, and regular security audits. All solutions comply with international ISO 27001 standards and local personal data protection legislation requirements.
The project results exceeded all expectations. Policy registration time was reduced from 2-3 hours to 5 minutes, leading to a 340% increase in conversion. Automation of insurance claim settlement processes reduced claim processing time from 7-10 days to 24-48 hours.
The implementation of machine learning algorithms for risk assessment improved underwriting accuracy by 25% and reduced fraudulent claims by 60%. This directly impacted the company's financial performance - portfolio loss ratio decreased by 15%.
Customer service also improved significantly: NPS (Net Promoter Score) increased from 35 to 78 points, and support service response time was reduced by 3 times thanks to the implementation of a chatbot with artificial intelligence elements.
