About ABN AMRO Verzekeringen
ABN AMRO Verzekeringen is a joint venture between ABN AMRO Bank and Nationale Nederlanden. It consists of three departments: private insurances, business insurances and an independent intermediary for the B2B sector. ABN AMRO Verzekeringen uses Salesforce and FinDock for business insurances and intermediary.
Needs
ABN AMRO Verzekeringen started by implementing Salesforce for all important intermediary processes, such as providing advice or processing leads and creating quotes for them. Driven by a desire to simplify its landscape and have all platforms communicate with each other so as to create a 360-degree customer view, it also took business insurances to Salesforce. The question was, how to support this idea by managing all payments under one ‘digital roof?’ ABN AMRO Verzekeringen set out to look for a solution.
Solution
FinDock offered significant benefits. For example, its extensive and proven experience in managing payments on Salesforce in several industries appealed to ABN AMRO Verzekeringen. The two companies also share a passion for social corporate responsibility. On top of that, FinDock provides a level of flexibility the organization needed to support an end-to-end customer journey on Salesforce. While other parties charge a high basic fee and offer little room for adjustment, FinDock’s philosophy is, You can start small and we’ll grow along with you as you expand. This philosophy matched organizational development strategy perfectly. Besides the power of having all customer information on Salesforce, this model considerably reduces risk. This made ABN AMRO Verzekeringen decide to unlock the power of FinDock in the insurance industry as one of its frontrunners — and it gave them a unique advantage over their competitors.
Benefits of FinDock
- As payments have become a crucial part of the Customer 360 experience, they allow for creating unique customer journeys.
- Native payments on the Salesforce platform with FinDock have contributed in making four legacy systems redundant, allowing ABN AMRO Verzekeringen to eliminate technical complexity and create a better user experience and customer insights.
- Automating payment-related tasks reduces manual activities, which means employees can spend more time on tasks that positively impact the business and customer.
ABN AMRO Verzekeringen chose the latter option. “We wanted to simplify our landscape, and Salesforce allowed us to do that,” says Roel. “The few things it doesn’t offer can be added. For example, we can use FinDock as our payment management solution that’s native to Salesforce.”
Since ABN AMRO Verzekeringen also uses the Financial Services Cloud, it needed a deeply integrated ingredient to create an end-to-end solution that would make its legacy systems superfluous. That ingredient has come in the form of FinDock, which complements Salesforce to create an unbeatable overarching solution.
So far, the process has been smooth. Product owner Ido de Jong explains, “For business insurances, we want to collect premiums and pay claims. And for our intermediary department, we want to collect premiums. FinDock quickly organized these things for us, so they were ready when we were.”
“Our processes have become more efficient”
Since FinDock has been up and running, ABN AMRO Verzekeringen has seen a decrease in manual activities. “Employees can spend their time on other tasks,” says Ido. “Our processes around premium collection, disbursement, and damage compensation have also become more efficient. We can use FinDock for them now, which helps us get rid of the old landscape. That’s a gradual process, of course. But in the short term, it also comes with financial advantages.” Roel elaborates, “Some of our systems stem from the 1970s. They work, but they require expert developers and separate support agreements. So we looked for a replacement, and the combination of Salesforce and FinDock has provided the solution. It also allows us to make significant improvements in terms of efficiency — for instance, by enabling automated matching.” To illustrate this feature, Roel provides an example:
“Suppose a customer needs to pay 1,700.10 euros, but they transfer 1,700 euros instead. The question is, what to do with the remaining 10 cents? Before we used FinDock and Salesforce, we had to correct this manually. With guided matching, that’s no longer necessary.”
“We’re regularly surprised by what we can do with FinDock and Salesforce”
ABN AMRO Verzekeringen has been able to automate several crucial processes, but it was a coordinated effort. Ido explains, ”We’ve had to properly orchestrate all related processes. That requires analysis and a solid setup.” Although that’s partly an internal process, ABN AMRO Verzekeringen feels that FinDock is there when you need them. “They usually put our requests on their roadmap,” says Roel. Ido adds, “And if we submit an issue, FinDock tends to act quickly and accurately.” Roel and Ido also enjoy watching things evolve. “People on my team are regularly surprised by what we can do with FinDock and Salesforce,” says Roel. “And it’s been nice to see how handling disbursements in our CRM has developed. We can now use authorization levels. For example, a new employee can pay amounts up to 70,000 euros, while their senior co-worker is authorized to pay amounts up to 2 million euros. And we have a dashboard that clearly shows the status of payments made to customers. All this is possible because FinDock is native to Salesforce.”
“We’ll go from four systems to one: Salesforce”
According to Roel, FinDock comes with a twofold benefit: “Because of the seamless integration between Salesforce and FinDock, we have one overview of business insurances and intermediary activities. That’s easier for us and for customers: we can collect and pay money faster — in ways they expect.”
The biggest benefit, though, is that ABN AMRO Verzekeringen now has a 360-degree customer view. “As of late January, we’ll go from four systems to one,” Roel explains. “So, we’ll have all customer information in one place. Right now, we still have to open two different systems if we want to look up a customer’s policy information and payment information, for example. But in a few months, we’ll retrieve all data from Salesforce!”
“FinDock is flexible, ambitious, and fit for purpose. Plus, it’s a global player: we use it to manage domestic and foreign payments.”
