LogicaCMG today announced the implementation of a new payments solution for Ceská pojistovna (CP), one of the largest financial institutions in the Czech Republic.
The solution allows centralised control of all payments across channels and has resulted in a significant increase in customer satisfaction.
Key benefits include:
- Time taken for insurance payments has decreased by 40 per cent
- Time for crediting individual accounts with incoming payments decreased by 30 per cent, thus decreasing administration cost
- Centralised payment information, enabling any office of CP to give their clients timely and accurate information about payments
- Number of errors in settlement decreased by 80 per cent
CP is the first insurance company in the Czech market to implement such an advanced payments solution. Its clients can now be confident that payments are processed quickly and correctly and that any errors are solved much faster.
Stanislav Uma, senior director for communication and payments center in CP, said: "This system can be compared to a gearbox in a car. It cannot be seen from the outside, is not underlined in marketing booklets, but it is critical for a fluent and comfortable ride. Payment solutions play a similar role in the insurance industry. To deliver top-level services, we need the support of top-level back-office solutions and the solution we have implemented together with LogicaCMG is something we can be really proud of."
Lode Snykers, managing director of global financial services at LogicaCMG, said: "It is exceptional to find a client that is so well prepared from the very beginning of the project, with such a clear strategy for client services improvement. We are delighted to have applied our expertise in payments to this project, which resulted in this second-to-none solution."