The Digital Insurance Agenda (DIA), one of the biggest InsurTech conferences, took place on 25th -27th June in Amsterdam.
Achmea (the Netherlands’ largest insurer) and Faktor Zehn were on stage this year and spoke about enabling innovation, while providing operational excellence and customer centricity at the same time.
Achmea spoke about business problems such as short time-2-market and IT implementation costs. It was also highlighted that it is an even bigger challenge for pension companies, rolling out new pension schemes and having to comply with regulations.
“As the largest insurance company in the Netherlands, several business problems such as performance of complex lifecycle calculations, management of pension products, replacement / migration of pension tools for digital transformation and 24/7 availability for all channels were causing bottlenecks for digital transformation” said Rene Wissing- Chief enterprise architect at Achmea.
This is exactly where Achmea profits from Faktor Zehn’s open source innovation tool, Faktor-IPS. “Imagine CXO’s and decision makers being able to innovate more quickly by taking a “Plug and Play” approach. They can develop complex insurance products across all LOB and manage their lifecycle easily, and all that for free i.e. zero Investment for IT departments” said Shashank Jain- Head of Innovation and Sales at Faktor Zehn.
The event saw over 1200 participants from the insurance industry as it provided the perfect platform for insurers, heads of Innovation and innovators to exchange experience and ideas at a global level. The response to the presentation was tremendous, as indicated by the huge turnout of insurers at the Faktor Zehn stand. The product management tool Faktor-IPS, especially, piqued the interest of insurers, as it is open-source.
Faktor Zehn works for top insurance companies in Germany, Austria, Switzerland and the Netherlands such as ERGO Direkt, SIGNAL IDUNA, VIG, Münchner Verein, Achmea etc. and many more. Our innovative and agile insurance solutions help insurance companies to take a digital leap forward.
Curious to know more about Achmea and Faktor Zehn’s collaboration? Feel free to contact us at