Results of ODE implementation
What made us decide to switch to e-document workflow
Arsenal Insurance is a Ukrainian insurance company that employs about a thousand people across the country and pays out at least $150,000 in insurance benefits every day. Accordingly, there were a lot of paper contracts signed with clients, about 30 thousand boxes per year. And of course, employees spent a lot of time filling out, executing and approving these papers. That is why it was decided to switch to an e-document workflow.
We divided the company's transition to ODE into five consecutive steps.
1AnalysisFirst, we determined what kinds of documents we have and which ones would be the easiest to digitize. We decided to start with the primary documents and the document workflow with partners.
2Preparing business processesThis sounded really easy, but in practice it turned out to be somewhat different, because in business one change leads to a whole chain of others. And it turned out that it is internal changes that are the most difficult to implement.
3Choosing a providerOf course, when choosing a provider, we got to know and test all of them, but Vchasno became our preferred partner in this matter.
4ImplementingThe company spent 4 months training its employees, and after changing a lot of business processes, it finally launched the pilot.
5The pilot is launchedThen again, we watched, analyzed and went back to optimizing business processes. But suddenly a lockdown started and the company owners ordered to switch to remote work, which means that the entire document workflow had to turn into electronic one. We had only two days to switch all regional and central offices to remote work and organize ODE. This was a driving force for us, but at the same time it was a big step with no way to back out.
What we are proud of
This forced transition to remote work and ODE has led to additional features for customers.
For instance, our clients now have access to:
- remote execution of insurance contracts;
- online payment;
- remote settlement. That is, our clients can send photos of damages to their car via chat, receive the documents by e-mail and go to the service station. And afterwards we communicate online with the service station.
Besides, our document workflow became 90% electronic, and we started saving our clients’ time. When we worked with paper documents, it used to take at least two days to prepare, negotiate and sign them. Now the process of signing a contract, even with a coffee break, takes a maximum of two hours.
However, we decided to go beyond that and launched a new startup, Easy Peasy Insurtech. This is a new kind of insurance. In fact, it’s an insurance company in a smartphone without any paperwork.
If previously we used to spend 2 hours for an electronic contract or two days for a paper contract, now our client who chooses Easy Peasy Insurtech concludes an insurance contract in 5-10 minutes. And in the client’s personal account there is already an e-contract signed by the e-signature of the chairman of the board.
The results of the transition to e-document workflow
We converted all primary documentation into e-format, signed with an electronic signature (QES). This allows us to optimize time and speed and enables us to make payments to partners as quickly as possible, which, of course, pleases them very much.
Moreover, we save 8 million hryvnias a year (by reducing the time of workers and the amount of paperwork). Most importantly, we save our customers 2 days, which previously were spent on signing a paper contract.