Digital transformation empowers the insurance industry to achieve more

People in an office

Early digital transformation can give insurance companies a competitive edge by enhancing customer satisfaction, lowering errors, and boosting internal productivity.

The insurance industry is slower than some other industries in the digital transformation journey. The reason is that this field has many complex processes, from identifying risks, managing records, processing claims to ensuring the security of sensitive customer information. Digital transformation in such complex systems requires changing both the way employees work and the thinking of leaders.

However, digital transformation is no longer an option but an inevitable need, forcing insurance companies to not stand aside. The application of technology will help optimize and automate many internal processes, minimize errors, increase efficiency and reduce processing time, thereby creating a better and more convenient experience for users.

Insurance businesses that soon apply the digital transformation process will have a more competitive advantage and have more opportunities to attract and retain customers. However, many businesses face a big challenge of where to start and what solution to choose for effective digital transformation to make a difference.

Dai-ichi Life, one of the leading life insurance providers in Vietnam, sees digital transformation as the answer to the constantly changing needs of customers who demand fast, convenient service, high quality and easy to use. To maintain growth, the company realized it needed to streamline its operations. “If we want to improve processes and performance as well as enhance customer experience, we need to stay ahead with the latest technologies,” said Mr. Huynh Thien Nhan, Deputy Chief Technology Officer of Dai-ichi Life Vietnam Nam.

However, implementing a new solution means using new tools and workflows, making it difficult for some employees to adapt. To overcome those barriers, the company chose Microsoft 365 and Azure, and supported employees with training courses to familiarize themselves with new technologies. Thanks to the right choices and smooth digital transformation, more than 20% of employees at Dai-ichi Life now use new Microsoft solutions and the rate continues to increase, helping streamline processes and improving customer satisfaction in the process.

With Microsoft’s solutions in place, Dai-ichi Life Vietnam experienced significant improvements in productivity. Microsoft 365 enabled employees to work and interact more efficiently, while Intune enabled remote workers to access company data securely. “We can get and manage information and files from anywhere with an internet connection,” Mr. Nhan says. “This provides us with greater flexibility, allowing us to easily scale our operations while equipping remote workers with the tools they need to deliver great work.”

In addition, the company also uses Power Apps to create applications such as Human Resources Portal, Sales Activity Management, Dai-ichi e-Health for delivering health care, and an IT Helpdesk Ticket for managing the team’s workload and checking the status of a ticket. These applications enable departments to build their own customized solutions without extensive coding, thereby increasing productivity and streamlining operations.

Along with that, the Azure cloud platform provides the ability to integrate and automate business processes, helping to increase work efficiency and reduce errors. Businesses can customize their apps and services to accurately reflect their unique workflows. Security is also a top priority in protecting its systems and data, ensuring a safe environment for customers during digital transformation.

“Our applications and services can be deployed and managed in the cloud, which optimizes performance and enhances system reliability. Azure also offers advanced security features and adheres to strict compliance standards,” explains Mr. Nhan.

Digital transformation is not only a necessity but also an opportunity to optimize work processes and promote modernization in businesses. Solutions like Microsoft 365 and Azure have proven to be a reliable multi-service platform, helping organizations leverage tools, cloud services and applications for better productivity and communication better. Not only Dai-ichi Life Vietnam, many other businesses and organizations consider cooperation with Microsoft to be the key to solving their challenges and difficult problems in digital transformation.