Digitization of the KBC Home Policy Qorus Innovation in Insurance Awards 2018 - Winner

The outside world is changing. Technology has come to play an essential part in our lives. Customers are choosing to use more and more the digital channels, especially the millenials. The same is true for insurances. That’s why we’ve developed a digital sales process for the Home policy (KBC-website, KBC Touch and KBC Mobile banking app), that takes into account 3 major principles “easy to buy”, “easy to understand” and “peace of mind”. The biggest potential for simplification could be found in the classical evaluation system. This system is commonly used to determine the rebuilding value for the house or apartment, and thus the premium. It consists of an elaborate questionnaire of 20-25 questions. Thus in a digital environment this questionnaire would form a challenge and a big threshold for most customers. That’s why we’ve developed a ground breaking data driven new evaluation system, that’s based on solely 3 questions. Thus a quick and correct quote is immediately obtained. Once the premium is simulated, the policy can be immediately closed during the same process. The customer journey is developed with a minimum of thresholds. We only ask what’s absolutely necessary. No documents need to be signed. The customer is in the driving seat (customer centricity): he chooses the preferred channel (digital vs. intermediary).