Harmoney teams up with life insurance domain expert Oxygen

Harmoney teams up with life insurance domain expert Oxygen

Harmoney teams up with life insurance domain expert Oxygen

Posted on 29/10/2020

Blending best-of-breed digital compliance technology with insurance domain knowledge, Belgian financial services firms Harmoney and Oxygen are joining forces to support life insurance providers in their digital and customer-centric transformations.

Complementary focus areas

Oxygen is a consultancy firm from Mechelen that manages and executes projects in IT, management and process optimization for insurers, with three core objectives: unlocking greater efficiency, responsiveness and customer focus. Complementing these goals, Harmoney’s fully digital end-to-end customer due diligence platform automates core processes for financial services and insurance providers.

Harmoney also orchestrates every interaction between relationships managers, compliance professionals and customers by creating a Financial Passport® for each customer: a centralized, continually updated customer data vault. Harmoney’s solutions are trusted by Baloise Insurance, La Mondiale Europartner and Société Generale, among others.

Dynamic ecosystem, new challenges

In the face of rapidly evolving regulations and new customer expectations, operational and due diligence processes in the insurance industry are time consuming and tedious for customers, front office and back office teams.

 “We quickly realized that by approaching the Belgian insurance market together, we won’t just bring efficiency and transparency to these processes, but also prepare market players for the future when it comes to digitalization, compliance and customer centricity. Even better – we don’t have to reinvent the wheel to do it,” explains Dirk Vervoort, managing director and co-founder of Oxygen.

 “By combining the life insurance domain expertise of both Oxygen and Harmoney and integrating it into the platform, we bring companies important competitive advantages,” asserts Thomas Van Maele, CEO and co-founder of Harmoney. “For example, we make it simpler for them to transform their processes, win time and dedicate their efforts to establishing long-term, trust-based relationships with their customers.”

Technology with built-in human expertise

The Harmoney platform digitalizes and automates the complex processes of gathering and maintaining customer data and continuously complying with strict regulations. “But even more, Harmoney embeds expert knowledge of both compliance and the life insurance industry in the core of the platform,” Thomas continues.

“Oxygen will implement the solution, as we have years of experience with the tools, interfaces and back office systems used in the sector, while Harmoney will provide the technology. The result? Hassle-free implementations, rapid returns on investment and ultimate peace of mind. In short: life insurance players can spend their time fully concentrating on delighting their customers,” Dirk concludes.