(Prague, April 4, 2022) In a highly competitive life insurance market, it is only possible to succeed with appropriate technology that is user-friendly, simple and intuitive for advisors. All of this is, of course, conditional on a quality product at a reasonable price, service and good claims handling.
Although Maxima pojišt'ovna is one of the smaller insurance companies on the Czech market, this is what allows it a certain flexibility that large insurance companies lack, because they are often tied up with dozens of IT systems so that it is actually impossible. Therefore, Maxima decided to build a completely new greenfield system, which is an extension of the new operational and technical system, which is a kind of heart of the insurance company.
During March 2022, the insurer rolled out the MAX trading system to a wider portfolio of advisers at selected distribution networks, and the response so far has been very positive. More and more advisers are showing interest in accessing the system and the number of transactions is growing exponentially from week to week. There is definitely a lot to build on for the future.
The contracts are completely paperless and therefore there is no need to send anything to the insurance company. From modelling to filling in the contract details, it takes only minutes to conclude a contract and the system allows up to six people to be insured at once, starting the day after the contract is concluded. At the same time, advisers have an up-to-date overview of possible interventions or payments received. The MaxEfekt risk life insurance product itself has also been upgraded, with unnecessary exclusions removed and waiting times consolidated and reduced. At the same time, the insurer has waived the legal option to cancel disability and very serious illness insurance, offering clients much greater certainty of insurance protection.
The portfolio of policies offered and the favourable actuarial construction of the MaxEfekt risk life insurance, together with the complete digitisation and maximum simplification of the negotiation process, make Maxima the black horse of the Czech insurance market.
In the future, Maxima pojišt'ovna is planning further expansion of the system's functionalities and gradual migration of other products.