CASE STUDY
Allianz (ili) Life Korea Cuts Costs and realizes systemized management

Pain areas

Every insurance company has only two sources of revenue, viz., new insurance premiums and renewals. Since most of the insurance companies are new, new premiums are the primary source of revenue.

But going forward, recurring premium renewals and thereby customer retention will become a major source of revenue for the insurance companies. Currently insurance renewals are either paid at the counter or are collected by the insurance agents.

Some private insurance companies also collect premiums over the Internet. Although the results are encouraging, net penetration remains an area of concern. As per IAMAI the net penetration in India is 3.6% and hence insurance companies are looking at alternate channels for online renewal collections.

  • Establish a communication management system
  • Improve system security
  • Flexibility for future expansion
  • Lower costs
Customer results
  • Transparent communications management through digitized and data-based management resulting in more intelligent, personalized interactions with customers
  • Improved work speed through new features, such as teleconferencing and four-digit dialing, resulting in faster linkage of people, processes and resources
  • Avaya solutions, based on Linux, require fewer updates than Windows-based systems resulting in more agile, secure and reliable operations
  • Short implementation timeframe for a large enterprise (system construction including test period took only four months)
  • Communication costs were lowered through better administration of telephone related expenses with Avaya IP Telephony Solutions