Kunstmaan | Accenture Interactive and Accenture integrated a blockchain-based system with Zurich Benelux’s existing surety-management back-end and created a new user interface that serves as a one-stop, transparent digital hub for customers to manage and track their surety bonds. The solution includes an easy-to-use dashboard that enables customers to quickly check the status of their bonds, get detailed bond history records, complete new bond requests and view bond forecasts. It’s a first-of-its-kind blockchain-based solution that helps the insurer’s customers manage surety bonds to streamline and improve the customer experience
Zurich has already rolled out the system to its customers in Belgium and the Netherlands and plans to offer it to customers elsewhere in Europe in the near future.
“What was once a cumbersome process for surety customers and beneficiaries done over the phone or through e-mail with customer support representatives can now be done seamlessly online,” said Didier Murena, COO for Zurich Benelux France Nordics. “Blockchain technology transforms the way we exchange information with our surety customers and others across the insurance value chain. This product will reduce the administrative burden for customers, third parties and our employees, allowing them to focus on tasks that require greater levels of service and care.”
“We are excited to help Zurich integrate cutting-edge technology to improve its customers’ experience,” said Kristof Lambert, who leads Accenture’s Financial Services practice in Belgium and Luxembourg. “Blockchain creates a new backbone for insurers to communicate with various industry participants and simplifies the process to obtain surety bonds. The self-service portal is user-friendly and will support Zurich’s growth strategy by providing security and transparency around surety bond requests and records. We look forward to seeing the product rolled out to Zurich’s customers in other countries.”
In April, Zurich’s surety bonds solution received a DECAVI Insurance Trophy for innovation in the non-life insurance segment. The awards recognize the best insurance products in Belgium.