Provinzial Group relies on software from Faktor Zehn

The future mobility solution is to be operated in the cloud and is based on state-of-the-art technology.

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Category: Project updates

Provinzial Group relies on software from Faktor Zehn

A key component of the modernization of the Provinzial Group’s system landscape is a new motor system that covers the broad range of products offered by the Provinzial companies, including S-Direkt and the specialty insurer OCC, and enables future business models in the field of mobility. The Provinzial Group is one of the top 10 insurers and, following an intensive selection process, has decided to work together with Faktor Zehn to significantly redesign the modernization of the system landscape for the mobility area.

The focus here is on the introduction of a new motor standard system that is tailored to Provinzial’s needs and spans all sales channels and customer segments, with the components product management (Faktor-IPS), policy management (Faktor-IPM), and offer and quotation (Faktor-IOS) from Faktor Zehn GmbH.

Dr. Wolfgang Breuer, CEO of Provinzial says (translation):

‚The modernization of our IT landscape is essential for the expansion of our mobility services for our customers and the further digitalization of our processes. We are therefore pleased to have found a competent partner for software, implementation and operation in Faktor Zehn.‘

The future mobility solution is to be operated in the cloud and is based on state-of-the-art technology. It will cover the entire range of business processes, from private and commercial vehicle insurance to vehicle fleets and fleets.

The decisive factor for the decision in favor of Faktor Zehn was the high technical coverage of the motor vehicle processes with the standard software, its modern technology stack and the numerous references on the German market.

In addition, Provinzial has already gained positive experience with Faktor Zehn products in its subsidiary ProTect Versicherung AG. ProTect specializes in the design of innovative product solutions for financing and payment insurance. There, they already rely on the complete Faktor Zehn Suite for digitization.

The Faktor Zehn software fully covers all requirements of the German motor business and thus offers, for example, the mapping of different vehicle types, integration with the eVB and VWB processes, the management of no-claims bonuses and vehicle fleets, as well as migration support.

The joint project was launched in January 2023 with an initialization phase.

Information about Faktor Zehn Suite

The Faktor Zehn Suite is Faktor Zehn’s end-to-end core insurance solution. It covers all core processes, from product definition, offer management and policy management to claims management. In
addition, the suite offers a central and flexible management system for all partner data. Thanks to the versatile modelling possibilities of the open source core, the Faktor Zehn Suite can be
adapted to the respective interfaces and easily integrated into existing system landscapes.

 

About Provinzial Group

The Provinzial insurance group, headquartered in Münster, is one of Germany’s major insurance groups and has five million customers. Around 26 million people live in the Group’s business territory in northern and western Germany. The Group’s regional insurers, Provinzial Versicherung, Provinzial Nord Brandkasse, Hamburger Feuerkasse and Lippische Landesbrandversicherung, are firmly rooted in their respective business areas in North Rhine-Westphalia, Schleswig-Holstein, Mecklenburg-Western Pomerania, Hamburg and parts of Rhineland-Palatinate. Around 12,000 people work for the Group in the office and in the field, including over 1,000 trainees. High-quality customer care is guaranteed by the sales partners in more than 1,300 Provinzial agencies, 120 savings banks with their branches, and by cooperation with brokers.

https://www.provinzial-konzern.de/

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