Due to the development of its business, TUiR Allianz Polska S.A. needed a tool to accelerate settlements with reinsurers and brokers. The growing number of transactions is now supported by the financial-accounting module of Comarch NonLife Insurance. The cooperation between Comarch and Allianz Group started in 2006 when TUiR Allianz Polska S.A. and TU Allianz Życie Polska S.A. implemented Comarch Debt Management – a solution supporting the debt recovery process, which has been used and developed in both companies until now. Allianz and Comarch have been also working together on the development of the insurer’s main claim and policy administration system.
After several months of work with the new system we have noted that the transfer of reinsurance accounting data proceeds more efficiently than ever before. The solution implemented in cooperation with Comarch has helped us reduce the time needed for closing the accounting periods.
Chief Accountant at TUiR Allianz Polska S.A.
At the end of 2010, Allianz commissioned Comarch to carry out a preliminary analysis of settlements with reinsurers and brokers, and to provide some solutions to optimize these processes. After several months of analyses and preparations, at the beginning of 2013, Allianz decided to implement a financial-accounting module of the Comarch NonLife Insurance solution. Allianz needed to automate the increasing number of settlement transactions as the employees responsible for settlements with reinsurers and brokers had to manually enter all the data. Manual data import was laborious and time-consuming. As a fast-growing insurance company, Allianz wanted their systems to communicate with each other directly and support instant reporting. Moreover, the company wished to have direct access to the balances of settlements with reinsurers and the ability to generate reports directly from the system. Allianz chose a financial-accounting module of Comarch NonLife Insurance because of Comarch’s expertise in the settlement area, knowledge of the processes analyzed in Allianz, as well as the rich functionality and configurability of the solution. This allowed to identify the elements of the process that required optimization at the setup stage, and customize the system according to Allianz’s needs. As a result, the go-live release was smooth and the system ultimately met Allianz’s expectations.
The implementation began in April 2013 and was completed in March 2014. A yearly gap between the analysis and implementation works was quite an unusual challenge.
During the implementation particular attention was paid to achieving high performance of the module as an extremely important factor for the optimization of processes with large data volumes. At the beginning of the project a wireframe of the solution was prepared to initially assess performance.
Thanks to implementing the financial-accounting module of Comarch NonLife Insurance, TUiR Allianz Polska S.A. has optimized and automated the process of accounting settlements with contractors. Data processing necessary for the closing of the accounting period has been accelerated – it currently takes only 2 working days as the system is able to process about 500 thousand records of reinsurance data in 8 hours.
In addition, scrapping the process of determining the settlement balance with reinsurers on the basis of the General Ledger records allows for direct access to balances straight from the system level with a full preview of the selected reinsurer data. This enables verification of data correctness needed for closing the reporting period.
This situation required a review of the objectives by both parties immediately after the project launch to make sure the provisions in the analysis document are complete and still valid. During discussions we identified some new requirements. They were included in the scope of the project, so the total project workload increased by about 30%, and the project schedule became very tight. That is why we decided to divide the implementation project into four smaller parts, each ending in acceptance tests performed by Allianz.
Thanks to it, the works were carried out simultaneously by both sides and the project finished as scheduled.
Senior Analyst at Comarch
The financial-accounting module is an integral part of Comarch NonLife Insurance – a platform that comprehensively handles key business processes in an insurance company. The highly flexible and configurable financial-accounting module acts as a sub-ledger – it contains analytical records as well as add-ons to General Ledger accounts. It is responsible for supporting the accounting of insurance events, generating accounting documents and performing insurance settlements with contractors.
Allianz has been present in Poland since 1997 when property and life insurance companies were found. Developing rapidly for several years
in Poland, Allianz Group has become one of the leaders of the Polish financial market. Allianz Poland is now one of the fastest growing groups in the insurance sector, providing comprehensive services to more than 2 million individual and corporate customers. Wide offer of Allianz Group in Poland includes nearly 180 products offered by 5,000 agents in branch offices and agencies, as well as cooperating entities: insurance brokers, multi-agencies, car dealers, travel agencies, banks and other financial institutions.
Comarch has been providing insures with its own IT solutions and services for over 15 years. Our key assets include a deep understanding of the industry and experience in modern technology. Comarch solutions cover insurance processes throughout the whole value chain and are targeted at both internal and external users within multiple activity areas.
The company products are well-known for their modularity, open architecture easing up the integration, and flexibility allowing to adjust to customer specific needs without changes to the source code.
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