Smart Insurance Advisory Tool Qorus-NTT DATA Innovation in Insurance Awards 2025- Nominated

Reasons Behind Affluent customers have above-average needs for risk coverage and high expectations regarding service quality. Our relationship managers must compete with brokers specialized in insurance risk products. We aim to increase the number of insurance products our affluent customers hold with us.

Objectives We strive to be the first-choice bank for our customers, particularly the most affluent ones. Insurance is an excellent tool for building long-term loyalty among customers and their families while also serving as a valuable source of commission revenue. As the market leader in bancassurance in Portugal, we aim to strengthen this position. To achieve this, we empower our relationship managers to conduct exceptional needs assessments and provide outstanding recommendations on both products and pricing.

Range of Risks Covered Life, health, critical illnesses, personal accidents, car, home, domestic workers, and pets.

Competition There is currently no integrated insurance tool in Portugal that provides a comprehensive assessment of a customer's and their family's needs while simultaneously proposing the most suitable offerings and pricing. The scope and quality of such an integrated approach depend on the expertise and level of knowledge of the insurance professional engaging with the customer.

Departments Involved a) From the Bank: Insurance Marketing, Affluent Segment Marketing, Commercial Teams, IT. b) From the Insurance Company: The same teams as above.

Main Results Feedback from our relationship managers has been very positive. The impact on our affluent customers has also been outstanding, with spontaneous feedback from most of the 7,000 customers who have undergone the assessment, expressing appreciation, admiration, and gratitude for the diagnostics and proposals received. The conversion rate of simulations into sales has increased 2,4 times, and the number of products sold per transaction has grown by 20% - a trend that continues to rise daily.