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How Insurance Industry Leader Zurich Financial Uses EASA for Innovation

by EASA Software in All Blog Posts, CPQ (Configure, Price, Quote), Spreadsheets

The insurance industry is a competitive one, and companies that occupy this sector need to be constantly improving their processes to stay successful. One of the biggest challenges that insurance groups face is how to effectively and efficiently price their products.  The pricing process for insurance providers is a complex one where many factors, some of them confidential, need to be incorporated into the proposal generation process.

Zurich Financial Services, one of the world’s largest insurance groups, wanted a better CPQ (configure) process for their sales teams and brokers to access. The program needed to be web-enabled, versus the legacy process that was limited by desktop-based because it employed Excel spreadsheets.

Secure distribution of spreadsheet-based proposal process had been challenging Zurich.  The calculations and business logic embedded in the spreadsheets are confidential  and represent information that should not be readily available to unauthorized users, so Zurich needed a system that effectively allowed existing spreadsheets to be incorporated in web applications, managed by the spreadsheet author, but accessible only as a web application to the end user.

Zurich Financial Services used EASA Software to secure and streamline the deployment of their Excel spreadsheets as web-based price and risk modeling tools. It allows for confidential models and data embedded in the spreadsheets to be protected while allowing for ease of use by both actuaries and sales force alike.

The implementation of EASA Software in its pricing and proposal generation process ultimately helped Zurich save time and money and solve a complex business challenge, helping them streamline this business process and be more effective against their competition.

Article by EASA Software

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