Increased life expectancies, continually low interest rates and high conversion rates – pension funds have been faced with great challenges for a number of years. Tech companies like Netflix and Amazon are creating additional pressure by turning previous consumer and purchasing behaviours upside down: with customized services that are available anytime and anywhere that put the customer’s needs in the forefront. In this environment, retirement insurance companies, like all insurance providers, are forced not only to make their processes more efficient but also to tailor them more closely to customers.
These were the challenges faced by a Swiss pension fund that chose to work with Trivadis. It had been able to position itself well in the market in the past ten years in particular through the high interest rates on pension fund assets. To maintain that positioning, it initiated its digital transformation with its “Strategy 2018–2020.” Interactions with customers and partners that had largely been handled manually and documented on paper would need to be digitalized. The knowledge of customers that had previously been kept in silos also needed to be made transparent and available centrally.
Trivadis supported this pension fund in a variety of stages throughout its digital transformation: Firstly, Trivadis implemented Microsoft Dynamics 365 CE (CRM) as a centralized information system for employees to provide a 360° view of all customers. Secondly, Trivadis supported the pension fund in the selection, implementation and introduction of a new, modern core system. Trivadis also integrated the existing and the new core system in Microsoft Dynamics 365 CE (CRM) to pool all data centrally.1
In a further step, Trivadis implemented a number of continuous, efficient and automated processes using Azure Logic Apps and Microsoft Power Automate in Microsoft Dynamics 365 CE (CRM). These include the offer process (incl. automated credit checks and calculations) as well as the new connection process. Using an interface, Trivadis also integrated a leading comparison portal through which requests submitted there can also be processed automatically. In the next step, warning, termination and sick notice processes will also be standardized and automated across departments.
Alongside the implementation of Microsoft Dynamics 365 CE (CRM), the integration of the core systems and the standardization and automation of processes, Trivadis created a modern data warehouse for the customer that bundles all of the company’s data sources using biGENiUS. It forms the foundation for being able to carry out a variety of advanced analyses in future and to allow the management to make decisions better and more quickly.
The solution developed by Trivadis stands out in numerous aspects: To start, the modernized and partially automated processes increased efficiency within the company. Additionally, sales, field sales and service employees are up to date on the latest information thanks to Microsoft Dynamics 365 CE (CRM), which allows them to address customer needs more quickly and closely. All of these benefits together allow the pension fund to hold its strong market position – with the highest interest rates and a new, contemporary proximity to customers and partners.