ERGO Hestia
delivers instant refunds of premium overpayments to clients using DLT
80-90%
OF CUSTOMERS COLLECTING THE MONEY DO SO WITHIN 24 HOURS VS UP TO 2 WEEKS WITH POSTAL SERVICE.
SAVES
30%
ON INSTANT REFUNDS OF PREMIUM OVERPAYMENTS TO CLIENTS
UP TO
50%
OF CUSTOMERS COLLECT PAYMENTS WITH NUMBERS EXPECTED TO GO UP
CHALLENGE
ERGO Hestia wanted a hassle-free, innovative solution to digitize a process of sending returns to their clients. As the insurer often didn’t have a customer’s IBAN, they had to contact the client directly, to gather the information needed for a bank transfer. This was not only cumbersome and cost-ineffective, but also didn’t create a digital experience for the customers.
OUR SOLUTION
For the purpose of this challenge, we have provided our Mass Payout Panel that enables easy, mass payouts to any end beneficiaries.
The solution consists of two main elements and processes: the management panel (payout creation process) and the collection page (payout collection process).
PAYOUT JOURNEY
The payout creation can be processed manually or automatically – it requires:
The payout can be also added into a separate project for better management of the returned funds (i.e. two separate returns for two separate policies).
COLLECTION JOURNEY
The collection process requires:
HOW IT WORKS
OLD JOURNEY
NEW JOURNEY
Results
BEFORE
The process of returning overpayments to a recipient whose bank account number is unknown was carried out in two ways:
AFTER
All contract documents automatically stored on DLT and available to clients in real time
