NOVUM-RGI and die Bayerische Bring Transformation Process to the Home Stretch on Schedule Despite Corona
The insurance group die Bayerische starts with the operation of the home contents line in its department. After the successful introduction of yet another business line by NOVUM-RGI, the Munich-based insurer is entering the home straight in its transformation process as planned.
The goal is not only to renew the complete policy management system for managing composite policies (P&C) by the end of 2021, but also to develop it into a modern innovation platform that is also open to third parties. The joint implementation partnered by NOVUM-RGI under the project name "Elementar" is carried out on schedule and within budget despite the Corona pandemic. With the modern multiline system, die Bayerische is equipping its entire composite area for the challenges of the future.
"The goal of die Bayerische is to inspire our customers with innovative products and simple processes. Therefore, together with the team of NOVUM-RGI, we embarked on the journey of developing a future-oriented system for the property insurance sectors. Going live with the contents insurance line, we are now technically in full production (product, policies, claims, interfaces) and have reached an important milestone. With each additional line of business, we will gradually make the features even more effective and further simplify our processes. Using the customer manager, our customers cannot only easily change their addresses, but in addition, they can also change their insurance cover or their insurance rate - quickly and conveniently. With these standardized customer processes, we are making the future easier,” Carsten Tobien and Armin Hangl, both project managers of Elementar, thus explain the significance of the transformation process.
The modern policy management system Elementar based on V'ger provides necessary tools for new business models and innovative insurance products. The V'ger product world of NOVUM-RGI contains modern standard solutions for all insurance lines and includes all actuarial core systems.