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FBD Insurance plc Selects TIA Technology for Policy Administration
Virum, Denmark – TIA Technology, a leading provider of standard insurance software solutions for the global property/casualty and life insurance industry, announced today the release of its new product.
FBD, one of Ireland’s largest property and casualty insurers for farmers, private individuals and business owners, has selected TIA Technology as its new insurance software and professional services provider.
Among others, FBD will be leveraging the newest modules in the areas of policy administration, product configuration as well as collection and disbursement. TIA implementation partner Version 1 has been selected to lead the implementation project, with TIA Professional Services working in close collaboration. FBD selected TIA Technology as part of an overall strategy to grow their business through better customer experience.
“The TIA 7-series solution is a key pillar to our business growth strategy”
FBD is already well on its way to realising its vision to be the most successful insurance company in Ireland. Today their system is made up of multiple applications – including Claims, online sales, rating and call centre systems and a legacy policy administration system. This creates challenges around customer data management and launching new insurance products. In addition, the extent of integration carries an extra overhead.
“The TIA 7-series solution is a key pillar to our business growth strategy,” said Eimear O’Broin, Director – IT & Operations at FBD. “We selected the TIA 7-series solution on the basis that it would provide us with the rich integrated functionality and product configuration capabilities we need. But more importantly, we anticipate that the TIA 7-series will enable us to get closer to our customers, so we can be more responsive to the market and to our customers’ changing needs.”
FBD's implementation has already started and includes the policy administration module that enables full insurance quotation and policy management, such as automated underwriting and flexible renewal rules. Another central application is the flexible product configuration engine that enables consistent quotations across distribution channels. FBD is implementing TIA’s newest solution version 7, which is based on Oracle’s ADF technology and introduces a completely revamped user experience with the customer in focus.
We understand their need to realize their full potential in a challenging market with new rules of customer engagement.”
TIA Technology will provide FBD with the ability to:
Manage every customer interaction through its lifecycle with end-to-end processes embedded in the system
Create better customer experience with standard best-practice processes built in
Interact seamlessly with customers on any channel and any media
Gain a single customer view across all channels and processes
Develop new insurance products faster
Use consistent analytics to respond fast to market change
Administer policies more efficiently and cost-effectively
“We are pleased that FBD has selected TIA Technology as their insurance software and professional services provider,” says Liselotte Munk, CEO of TIA Technology.“We understand their need to realize their full potential in a challenging market with new rules of customer engagement. And we are committed to assisting them in getting even closer to their customers with an innovative end-to-end solution that delivers what it promises.”
FBD is one of Ireland’s largest property and casualty insurance companies with a GWP of circa €350 million. Established by farmers, for farmers, in 1969, FBD has grown into one of the country's largest insurers with over 500,000 loyal and satisfied customers. FBD has an excellent growth record and has established a strong brand identity in its target markets. Their aim is to continuously improve their understanding of customer needs and capitalise on new opportunities in the Irish insurance industry. www.fbd.ie