About the client
A Fortune 500 Dutch life insurer serves over 4 million customers and 9,000 employers. With various offerings across pensions, savings, and investment solutions, it operates the UK’s largest investment platform, focusing on financial wellbeing and long-term financial planning.
At a glance
The client’s closed book portfolio was facing rising costs and declining revenue. This was driven by aging mainframe systems, high technical debt, and complex integrations. With over 840 staff members and low user satisfaction scores, the insurer appointed Atos to modernize its IT systems, reduce per-policy costs, and improve services without compromising quality.
Outcomes
- 66% reduction in per policy cost
- 1M+ policies migrated to modern platform
- 22% higher digital adoption
- Improved customer satisfaction scores
Challenges
Identifying gaps in a closed book portfolio
The Fortune 500 Dutch life insurer had a large team of 840+ employees to support its IT systems and business operations. However, with a closed book of more than 1M policies, it was facing exorbitantly high per policy costs.
Other challenges included:
- More expenses than the revenue from the closed book portfolio
- Large tech debt in IT estate
- Aging mainframe technology
- Low NPS for internal and external users
The client needed a transformative solution from a domain expert and sector specialist.
Solution
Reconnaissance and restructuring
The insurer’s transformation journey began with Atos’ Insurance and Digital consulting teams performing an end-to-end reconnaissance. Atos’ solution ranged from digital applications, to revised processes, agile with infrastructure and other niche areas such as IVR, telephony and security. Some of the winning elements in this solution include:
- A move from the customer infrastructure to an Atos private cloud
- A consolidation of two legacy insurance policy admin systems into a single, modern COTS insure platform
- The launch of a new employer portal to support online servicing and auto-enrolment, significantly reducing customer handling time
- Streamlined content and communication management with Xpression, rationalizing forms and improving operational efficiency
- Improved automation leveraging Pega and streamlined call center operations
The solution helped reduce costs and lessen the average customer handling time, thereby improving the overall customer experience.