Hartford Financial Services Inc.
HARTFORD GLOBAL ONLINE PORTAL
Multinational insurance programs require close communication between the client, the broker, the insurer and their various partners around the world, but still until recently the process was often handled via email.
In 2018, Hartford Financial Services Group Inc. decided that the time was ripe to automate the process and provide a central resource for its multinational clients and those of its network partners to manage their policies around the world.
"It's really about coordinating a conversation," says Kevin Strong, Minneapolis-based multinational director at The Hartford.
For example, a multinational company operating in 50 countries may require 50 local insurances, which may involve coordination between 1
A transparent and efficient process was needed "so that the implementation of local policy, collection of local information, premium data and premiums can flow and be tracked. "This is something that the industry desperately lacks," said Strong. -based head of multinational prisoners and TPA services at The Hartford.
In addition, simple steps such as seeing if invoices had been sent or premiums paid locally could not be traced. This is the key to contract security, because not issued, "said Bergbauer. markets to be its partners." We set up 93 partners in 220 countries. It served as a basis, "Bergbauer said.
Hartford then built a cloud-based platform that supports the network that allows real-time information sharing, so that all parties to the multinational program can see what's happening in local countries and participate actively.
“We then took it a step further, and we said that all communication about the implementation of insurance is transparent for customers, brokers and insurance companies. If there is an issue or a change that is happening, either party can look at it and capture it, he said.
Launched January 1, 2020 and winner of a Business Insurance 2020 Innovation Award, the global online portal has enabled Hartford's partners to issue policies and respond much faster, reducing the time it takes to issue a policy in some countries from six months to less than a week.
“Risk does not care about national borders. It moves across borders, perimeters, so having such a basic ability is rare and two are crucial if you want to serve (multinational) clients, says Bergbauer.