The Challenge
The Solution
IMPROVEMENT IN NPS
ADOPTION OF E-SIGN BY AGENTS
STP INCREASE
„Flexibility is super important in order to adapt to external events. ClaimCenter enables us to respond much more fluidly than other companies in the market. The fact that we have achieved almost 80% STP has helped us enormously in improving relationships with agent brokers and clients.”
Johan Dekens, Chief Operating Officer
P&V Group
In the wake of natural disasters, insurance companies are often put to the test, and their ability to respond swiftly and effectively can make all the difference. For P&V Group in Belgium, the implementation of ClaimCenter marked a turning point in their ability to handle catastrophic events with unprecedented agility.
"During the large catastrophic floods that we experienced here in Belgium in 2021, the implementation of ClaimCenter enabled us to respond much more fluidly than other companies in the market,” said Johan Dekens, COO, P&V Group. “Even after that event, we maintained very high levels of customer satisfaction. Our business and IT transformation has enabled us to be much more agile and flexible in the face of this kind of event.”
This agility has led to a tangible impact on customer perception.
„After the ClaimCenter implementation, we saw that the NPS increased 20%. The main reason for this was that we were predictable. We could deliver on our promises to customers and agents.”
Rudi Serron, CIO
P&V Group
P&V Group realizes the many benefits on their digital transformation with InsuranceSuite, including drastic improvements in customer satisfaction.
Becoming more digital was a game-changer for the P&V. Before Guidewire, the insurer was entrenched in paper documents.
„Today we offer a full digital process to agents and can process many more cases without a manager or an underwriter having to get involved. We have a 70% e-sign adoption rate, and we’ve improved STP by 30%.”
Claudia Wouters, Product Owner
P&V Group
P&V Group leaders share how the Belgian insurer realized almost a 30% increase in straight-through processing and an uptick in e-sign adoption from agents.
The insurer's commitment to digital innovation has yielded more than just customer approval; it has also spurred growth. "We are growing faster than the market in recent years,” Dekens said. “These investments helped enormously to improve our cost ratios.”
Easier integration with insurtechs, especially in the Guidewire ecosystem, enable P&V Group to innovate faster than every before.
As the company looks to the future, P&V’s adoption of digital solutions is going to speed up as it decided to migrate to Guidewire Cloud and recently completed the migration of PolicyCenter and BillingCenter.
Leaders of P&V Group explain the value that InsuranceSuite on Guidewire Cloud provides the Belgian insurer.
“We have faster releases with new features, and there is also potential cost avoidance in not doing upgrades anymore,” Serron said. “We will also benefit from the open API architecture that we can connect, integrated in the ecosystem, with insurtechs that will come with solutions. And, there is where we see the potential of the Guidewire Cloud solution.”
