Zurich UK has partnered with iPipeline, a provider of next-generation solutions and services to the life, pension, and investment markets, for its TCP Lifesystems self service/generation digital solution.
The tie up will help Zurich to enhance its customer and advisers service propositions and improve the user experience through a variety of new features including:
A new insurance policy administration and underwriting system
Acts as a central communication exchange point between customers, advisers, providers and reinsurers
Unique self-service capability allows customers and intermediaries to manage policies in an instant
New business underwriting solution has reduced processing time from an average of 34 days to as little as 15 minutes with 95% of cases written online and 80% executed via straight-through processing – with no human intervention.
David White, managing director of Zurich UK’s Retail business, said: “We know that digital and technology will play a major role in how we engage our advisers and customers and simplify our processes so that the experience is enjoyable and efficient. By harnessing the latest technology through TCP LifeSystems’ digital platform, we will focus on reaching and empowering more people to take control of their financial futures.”
Ultimately, this partnership is just another example of traditional insurers turning to both internal and external resources in order to equip themselves for the ongoing transition to digital platforms, channels and processes.