Digitalization in company pension schemes through mass processing

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The aim of an insurance company or pension provider is to drive forward the topics of digitalization and sustainability. Particularly in company pension schemes. The background is to offer (potential) customers added value and at the same time reduce administrative costs. Accordingly, new systems are implemented and existing ones modernized or expanded.

The mass processing of business transactions is a decisive factor in achieving the set goals in company pension schemes. Administrative effort and costs are reduced, business transactions are processed more quickly and customer satisfaction and loyalty are increased.

Within the framework of collective agreements, applications for insurance and requests for changes to existing insurance policies are submitted by (potential) customers to the

Insurance companies and pension providers. This is done on an guatemala consumer email list​ individual contract basis or in list form, in a variety of ways: for example by post, email or via a corporate customer portal. The relevant information is communicated and processed manually by the insurance company or pension provider. The administrative effort is correspondingly high.

This is where mass processing comes into play
Mass processing counteracts this. One aim of mass processing is to carry out as many similar business transactions as possible in a largely automated manner. A list of the collective agreement partners is required with the contract changes to be carried out - including the contract-specific adjustment requests such as the effective date or adjustments such as premium adjustments, contribution breaks and/or transfers in the context of company departures. The employee of the insurance company or pension provider validates the data, carries out data cleansing if necessary (if necessary in consultation with the insurance broker or the collective agreement partner), imports the records and data into the relevant system and starts the mass processing job. In the relevant systems, validators check the records and data for their logic. After a successful check, a corresponding business transaction is generated for the insurance application or contract, processed automatically and supplied to the interfaces - such as partners, printing or debt collection. Accordingly, for example, the contract status is adjusted, documents are created, sent and archived, or debit positions are generated in the debt collection system.