White Label

White Label

White Label is an insurance core system for life and non-life insurance.

White Label was created by Altkom Software & Consulting – the software company which has over 20 years practice in work for the insurance sector and experience gained from 11 core system implementations in 6 countries.

White Label supports insurance business processes: from products modelling offered through the sales path, premium calculation and policy handling, to claims.

Gazeta Bankowa

Hit of the Year award in 2018 in the technological competition of “Gazeta Bankowa” in the category of “Insurance and Other Financial Institutions”

International background

International insurance
White Label is based on knowledge and experience of the Altkom Group gained in previous international core systems deployments for insurance companies. We have been implementing solutions for Clients from Europe and America since 2002.

White Label is based on the following project areas where we have gained international experience:

  • 9 implementations in 6 countries of core life, non-life and health system.
  • 4 implementations of motor claims system.
  • 2 implementations (exclusive licence) of bancassurance core system.
  • Broker portal for handling group policies.
  • Direct sales portals.

The system derives from lessons learned during previous projects. Our strengths are:

  • Understanding the specificity of international Customer market.
  • Knowledge of legal and regulatory requirements in different countries.
  • Consistent working standards in relations with Customer teams.
  • Ability to work in multicultural, dispersed project teams.
Europe map

White Label Modules

Product Modules

Product Configuration

Product Configuration

More
Sales Front End
Sales Front End
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Pricing
Pricing
More

Claims Module

legal cases
Claims, subrogation, legal cases
More

Operations Modules

Effective Date of Operation
Possibility to perform all operations simultaneously (e.g. uninterrupted sales of products during the month closing process).

Automatic Process Management
In case of incorrectly performed operation – access to business and technical logs with possibility to re-execute the process.

Operation withdrawal
Possibility to undo any operation caused by user error (e.g. incorrect annex, policy termination). Every withdrawn operation is registered in the system for audit purposes.

Policy administration
Policy administration and Electronic Archives
More
Debt collection
Debt collection
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Document flows and correspondence
Document flows and correspondence
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Accounting and finance Modules

Subsidiary ledger
Subsidiary ledger
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Premiums and settlements
Premiums and settlements
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Commission and sales structure
Commission and sales structure
More
Calculation engine
Calculation engine
More

Co-insurance and reinsurance Modules

Co-insurance and reinsurance
Co-insurance and reinsurance
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Reporting Modules

Reporting
Reporting
More

Key features of our solution

1.

SIMPLE and INTUITIVE = no training required!

  • friendly for professional and „amateur” sales rep

2.

RELIABLE = 24/7

  • performing hundreds of calculations per hour
  • modelled on banking standards of availability and reliability

3.

SALES FIRST = sell from tomorrow!

  • present multiple products on sales front-end (e.g. seasonal or for professional groups) based on one actuarial definition
  • just 1 day time-to-market for new product launch on sales front-end

4.

TIME-TO-MARKET = 1-3 months!

  • for one of our Customers new tourist product in direct channel was implemented in 2 months (incl. integration with external core)
  • for another Customer average time for implementation of 7 products was 1,7 months/product

5.

TIME TO OFFER = max. 30sec.!

  • motor insurance pricing requires only 2 data (plate number and postal code) or QR code scan from vehicle registration certificate
  • calculations volume has been doubled in the same sales channel within just 3 months after go-live

6.

TIME TO ISSUE POLICY = max. 3min.!

  • sales process for motor insurance ends with payment via e.g. cash, bank transfer, credit card, financial services provider

7.

FREEDOM OF CHOICE

  • presents offer of different products (or brands) based on multi-calculation
  • conversion ratio growth for new business by several dozen %
  • based on data presented above similar renewal ratio growth is predicted

8.

OPEN BUSINESS ARCHITECTURE

  • insurance products of different companies (brands) can be sold within one sales path
  • additional revenue thanks to: in-house riders added to third-party insurance products, risks bundled from different insurance companies and more attractive, extended product range

9.

MODULARITY and COMPLETENESS (end2end)

  • the only system that supports entire insurance activity range
  • fragmentarily, in a range of needed functionalities

10.

PARAMETRIZATION

  • sales path configuration without IT specialists involvement
  • separate sales front branding for different channels and partners
  • numerous of user-friendly configuration tools

11.

IMPLEMENTATION TIME = max 1 year!

  • sales via front-end in 2-6 months
  • full core implementation in about 1 year

12.

SaaS & CLOUDING – CAPEX vs. OPEX

  • project can be purely „business”, without investment costs
  • possible implementation scenarios: cloud, hosting, on-premises
  • choice of licensing models: subscription (period fee), for system events (SaaS, pay as you use), classic implementation agreement

13.

MODERN TECHNOLOGY

  • latest, stable versions of software components and technologies
  • security of development and maintenance
  • independence from Altkom (ASC)

14.

WEB INTERFACE

  • work from any place through web browser
  • front-, back-office web interface
  • external partners portals

15.

CREDENTIALS

  • production references on request

Success story

ubezpieczenia pocztowe
Description of Customer’s problem

Description of Customer’s problem

Due to launching of insurance activity in life as well as significant remodelling and development in non-life branch, the decision has been made to replace two legacy systems with Altkom’s White Label solution.

Description
Challenges

Challenges

Fulfilling business and technical needs:

  • life and non-life products available in one front-end
  • sales of motor products of different co-insurers on one sales path
  • new sales path configuration within few days
  • new product implementation in 1-2 months
  • system reliability in performing hundreds of calculations per hour
  • simplicity for mass selling in postal branches (without dedicated training)
  • perform data migration process in a way that provides business operational continuity

Delivery

Delivery

White Label core system was implemented to fully support front- and back-office insurance processes for life and non-life companies, policy migration from legacy systems and insurance products parameterisation. White Label was delivered with modern front-ends that enable to configure sales paths based on product definitions from the modeller.

Delivery
Choosing a system

Choosing a system

Quoting Jacek Jabłoński, IT Director from Post Insurer:

“After market research and analysis, we have decided to choose Altkom’s insurance system. The decision was mainly driven by completeness of the solution (end2end), ease of its adaptation to our business model as well as provider flexibility in supporting our needs.”
[…] The main reason why we chose Altkom was its long-term experience in providing IT solutions dedicated to insurance market.”

Strategic Advances

Strategic Advances

  • Provides all modules and functionalities needed to run a modern insurance business (end2end solution)
  • Performs multi-calculation and presents immediately offers for different products or brands
  • Minimises time to offer – first calculation in 30 seconds
  • Minimises time to issue policy – process completed in less than 3 minutes
  • Minimises time-to-market – products ready to sell in one month
  • Sells insurance products of different insurance brands in one front-end and within one unified sales path
  • Web-based interface – ability to work from anywhere (multiple locations of the company)

Strategic Advances

Contact us

ALTKOM SOFTWARE & CONSULTING Sp. z o.o.

Chłodna Street 51, 00-867 Warsaw, Poland

Phone: (+48) 22 460 99 31

E-mail: asc@altkom.pl

*I hereby agree for processing of my personal data included in this form by Altkom Software & Consulting Sp. z o.o., ul. Chłodna 51, 00-867 Warsaw to handle my application, pursuant to Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation, GDPR). Providing data is voluntary, but necessary to complete the application. I am aware that I have the right to withdraw my consent to the processing of my data, rectification, deletion or restriction of processing. Contact to the Data Protection Officer at Altkom: iodo@altkom.pl
I agree to the processing of my personal data for marketing purposes by Altkom Software & Consulting Sp. z o.o., ul. Chłodna 51, 00-867 Warsaw and to receive commercial information via electronic sources to the e-mail address or telephone number indicated by me, pursuant to Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation, GDPR) and the Act on Providing Services by Electronic Means of 18 July 2002 ( Journal of Laws 2013, item 1422 as amended). Providing data is voluntary. I am aware that I have the right to withdraw my consent to the processing of my data, rectification, deletion or restriction of processing. Contact to the Data Protection Officer at Altkom: iodo@altkom.pl
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