Prima Solutions, the software provider for the insurance industry, announced today that Hiscox Germany chose to extend its use of Prima Insure™, the SaaS platform for insurance product distribution and policy management, to support its Classic Car product, providing insurance cover for Oldtimer and Youngtimer.
“Hiscox Germany needed a flexible platform to distribute and manage its policies for Oldtimer and Youngtimer. After a close review of alternative options we decided to extend our use of the Prima Insure™ platform. We have been using the Prima Insure™ platform successfully to support our direct distribution channel in France and Germany for three years now. It allows us to launch new products online quickly, providing our customers with on-line rating, quoting and binding capacity and a personal space on the Internet to manage their contracts. It also offers our underwriters the management capabilities they need, all from one single software platform”, says Stéphane Flaquet, Hiscox Group CIO.
“The fact that the Prima Insure™ platform can handle our two distribution channels simultaneously was key in our decision: we indeed plan to digitize our distribution and policy management processes, whether our policies are sold on-line, through brokers, or via other distribution partners. Also, the fact that Prima Solutions decided to establish a local presence in Munich at the beginning of this year played an important role in our decision to extend the collaboration between our two companies”, added Robert Dietrich, Managing Director Hiscox Germany.
“Prima Solutions is very pleased to extend its collaboration with Hiscox in Germany. We do consider Germany, Austria and Switzerland as a strategic market for our European growth trajectory. This Classic Car project is an extraordinary opportunity for us to gain market exposure in the region”, adds Hugues Delannoy, CEO, Prima Solutions.
The Prima Insure™ platform is fully configurable and can be customized to suit the needs of all users: customers, distributors or underwriters. 100% web based, modular and available in SaaS mode, Prima Insure™ manages the key insurance business processes end-to-end, from quoting to policy issuance, to financial collection, whether for P&C, Life or Savings products. Prima Insure™ is currently used either as an end-to-end system for distribution and contract and claims management, thereby replacing legacy systems, or as a set of independent modules to complement existing software applications.
Hiscox, the international specialist insurer, is headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). There are three main underwriting divisions in the Group – Hiscox London Market, Hiscox Re and Hiscox Retail (which includes Hiscox UK and Europe, Hiscox Guernsey, Hiscox USA and subsidiary brand, DirectAsia). Hiscox underwrites internationally traded, bigger ticket business and reinsurance through Hiscox Re and Hiscox London Market. Through its retail businesses in the UK, Europe and the US Hiscox offers a range of specialist insurance for professionals and business customers, as well as homeowners. For further information, visit www.hiscoxgroup.com.
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