Securex goes fully digital with its life insurance workflows

Securex goes fully digital with its life insurance workflows

While mainly known in Belgium for business services aimed at entrepreneurs, business leaders and employers, Securex is also a niche insurance player with activities in life, labor accident and illness and accident insurance. “Within the life insurance segment, we value strong relationships with a limited number of brokers to offer these products,” explains Matthieu Sougné, business development director at Securex Insurance. “In addition to offering in-built continuous compliance, Harmoney’s digital KYC and compliance platform helps us simplify the lives of our brokers and customers.”

Responding to a growing demand for digitalization

Whether a business leader is just starting up or managing a more mature organization in the public or private sector, Securex caters to every need. “Our services cover almost every core support aspect of a business, from payroll and well-being to talent management and training,” Matthieu goes on to say. “In the 1980s, it extended to life insurance fiscal products, also known as second-pillar products, and recently to fourth-pillar branch 23 life insurance.”

From the get-go, Matthieu and his team recognized the need for watertight regulatory compliance, as well as a key demand from brokers: “They want digital tools that streamline reporting and make their jobs easier. With this in mind, we set up a meeting with Harmoney back in 2019 to discuss setting up a fully digital track for our brokers.”

High performing - and a pleasure to use

Matthieu was already aware that the Harmoney platform offers workflow tools built specifically for life insurance providers. “They come standard,” he says. “But during the hands-on demo, we realized that it would only take a little bit of tweaking to customize the platform to our exact needs.”

As the insurance business unit at Securex relies on an existing back-office software system, the Harmoney team had to ensure a seamless connection between this software and the functionalities and workflows required.

Matthieu: “Apart from the technical requirements, we prioritized giving brokers a tool that not only works – but that is truly a pleasure to use. Building a strong network of talented brokers in the digital age is impossible without intuitive tools that are built around their needs.”

Compliance that's built into the sales process

Today, Securex brokers can count on a fully digital deal flow. Prior to their physical or virtual meeting, the broker can send the client a link to the portal so that they can enter information or respond to a questionnaire in a fluid way. During the meeting, both client and broker can finalize the process and sign documents digitally.

“The broker can rest assured that the file is complete and that every step in the workflow has been performed,” Matthieu adds. “Even more, both broker and client can access their own unique portals to see the status of the contract, which is updated on a weekly basis.”

On the compliance side, KYC and AML requirements are integrated into broker and client workflows via separate client and broker flows. “The risk profile of the client is also included, which enables our brokers to kick off the relationship with interesting products and relevant information – rather than with regulatory hassles. Being able to offer products that align perfectly with a customer’s needs and their risk score right off the bat – that’s an important advantage in terms of both sales and compliance.”

Guaranteeing complete files every time

The solution went live in December 2020, with immediate positive feedback.

“Thanks to the automated workflows and alerts, there was no learning curve for our brokers – the files are complete no matter who is working on them. Not only that, but the platform looks beautiful, it functions smoothly and it’s easy to use compared to plenty of other tools on the market. It is central to our ambition to offer the very best to our brokers and customers,” says Matthieu.

Why Securex chose the Harmoney platform

• Transparent workflows keep brokers up to date on next steps.
• A fully digital process means less administrative work and no paper or post.
• End-to-end digital communication between broker and client.
• Automatic compliance with KYC and AML requirements.
• Sales opportunities immediately aligned with a customer’s risk score.