Digital transformation of insurance processes at Euroasia Insurance
End-to-end digitization of insurance processes that lifted conversion by 340% and cut policy issuance time from 2-3 hours down to 5 minutes
The project
Euroasia Insurance approached us with a request for end-to-end digitization of the company's insurance processes. The main goal was to create a single digital ecosystem that would let customers buy policies online, automate claims handling, and lift the company's overall operational efficiency. The project had to cover every line of business: from car insurance all the way to innovative solar-panel insurance.
Key challenges included integration with government databases, building a reliable customer verification system, developing algorithms for automated risk assessment, and providing a high level of cybersecurity to protect customer personal data.
Solution
We started with a deep audit of Euroasia Insurance's existing business processes and ran interviews with key stakeholders. Based on those findings, we designed the architecture of the digital platform - including a microservice structure to ensure scalability and reliability.
The first phase delivered a web platform for online policy issuance with an intuitive interface. We built a responsive design optimized for both desktop and mobile devices. We paid particular attention to UX/UI design so that the policy issuance process would take no more than 5 minutes.
For security we rolled out a layered protection system that included two-factor authentication, data encryption, and regular security audits. Every solution meets international ISO 27001 standards and the local data-protection legislation.
Result
The project results exceeded every expectation. Policy issuance time dropped from 2-3 hours to 5 minutes, which drove a 340% lift in conversion. Automating the claims handling process cut application processing time from 7-10 days to 24-48 hours.
Customer service also improved significantly: NPS (Net Promoter Score) grew from 35 to 78, and support response time was cut by a factor of three thanks to a chatbot with AI capabilities.
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