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Italian Insurance Leader Reduces 60% Processing Time Leveraging AMS

If you have ever taken the plunge and signed up for life insurance, chances are you've crossed paths with our client - an undisputed leader in Italy when it comes to Bancassurance and supplementary pensions. As an arm of one of the largest banking groups in Italy, they specialize in innovative insurance, investment, and pension savings solutions, creating value for customers with a constant focus on service levels.

The Challenge

At Avvale, we understand the challenges of managing multiple CFO/Risk custom applications while operating within tight budget constraints. When our client, after years of working with the same provider, decided to explore other options, we were ready to step in. Our team's extensive expertise in the processes and applications involved allowed us to offer a qualified competitive offer that addressed their specific needs. The operation was critical since any malfunction or delayed controls could significantly impact the insurance company's monthly financial closing. Thanks to our efficient data processing capabilities, we ensured a smooth and timely financial closure.
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The Approach

Driven by our unwavering commitment and extensive understanding of their specific processes and application, Avvale secured the renewal of the app maintenance contract, specifically focusing on the Application Management Service for a suite of CFO/Risk custom applications built on the Microsoft SQL Server platform. Working collaboratively with the client, we actively engaged in discussions and consultations to create a shared vision and establish clear goals. With the goals set, Avvale assembled a dedicated team of experienced professionals to take charge of the ongoing maintenance and support of the applications.

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The Impact

Avvale’s AMS helped the client meet Solvency and IVASS regulations, streamline operations, and comply with industry standards. The user-friendly software enabled efficient management and analysis of processing stages, improving overall efficiency. Additionally, the client benefited from improved monitoring of dormant policies, enhanced tracking tools, and simplified communication procedures contributing to sustainability efforts and better data-driven decisions. 
Our solutions exhibited exceptional performance with a low anomaly rate during production releases, instilling confidence in the reliability of the implemented systems. The result was a remarkable 60% reduction in processing time, enabling prompt discrepancy resolution and improving operational efficiency.

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