Bulgarian consultancy Balkan Services has implemented Insurance Brokerage System (IBS) at Piraeus Insurance Broker. The system processes all insurance policies issued by the broker for the clients of Piraeus Bank and of Piraeus Leasing. It manages all insurance product offerings of the company and is integrated with the systems of the bank and the leasing firm, which makes making insurances much easier for all the users of the credit or the leasing services of the Piraeus group.
"Since we completed the implementation of IBS, our organization and reporting have significantly improved, our team's work has been optimized, and this has allowed us to cover and serve all our prospects in a faster and more efficient way," said Kalin Kolev, sales manager with Piraeus Insurance Broker. "Now we can accurately and quickly monitor who needs to have what kind of insurance, and we are able to offer a higher service level. Piraeus Bank and Piraeus Leasing now make valid insurances against all risks of their credit securities and of their borrowers, without this slowing down their work."
IBS is a modular information system with a single data base. It is developed by Altec - the maker of popular ERP system Atlantis. IBS encompasses all the important processes in insurance brokerage, including making proposals, issuing policies, monitoring payments, damages, covers, commissions, reporting, as well as management and automation of the financial-accounting activities. The data needs to be entered only once, then it spreads to all modules, which increases flexibility and comfort of usage. The system also includes its own CRM (customer relationship management) application.
IBS can effectively manage clients and the contract relations with them, separate branches or entire insurance companies, offers, proposals, policies, multilevel outgoing commissions, policy damage registrations, payments, etc.
"The regulator has imposed a rule which reads that all Liability insurances have to get their centralized numeration only digitally. This, as well as other changes in the pipeline, has created a boost for the investments in IT in the sector. The team of Balkan Services is prepared for this challenge and has the necessary software solutions and experience in order to meet the needs of the insurance sector," said Philip Mutafis, managing partner at Balkan Services.