STP ensures effectiveness & customer interaction

banner shape

In a digital age where all interaction between people and businesses should preferably be at lightning speed, automation may be the obvious solution that, in addition to streamlining business processes, also creates the perfect conditions for building a close and personal relationship with your customers.

We experience that increasing number of life and pension companies would like to offer readily available and cost-minimal services and products that meet their customers’ needs and desires in a rapidly changing market. This requires new flexible technologies with a greater degree of automation of business processes also called Straight-Through Processing (STP). STP enables the same information to be streamlined through an automated process across multiple business procedures, ensuring a fast, secure and efficient case handling while minimising the risk of errors in manual processes.

In Keylane’s view, STP is about digital technologies with built-in automated processes that ensure efficiency, cost reduction and, the opportunity to provide better service and user-friendly products that create greater customer interaction and loyalty. With STP, life and pension companies can offer their customers self-service solutions, making it possible for the customers to execute changes on their policies without the need for case handlers. Keylane customers enjoy these benefits by using Keylane’s SaaS-based standard platform Plexus for life and pension. The open API approach of Plexus, with its highly automated payment module, and smooth standard integrations with digital channels such as e-Box, and self-service platforms, makes it possible for most of the change and payment processes to be initiated and executed by customers themselves.

Notifications – engage your customers in their retirement
Plexus also offers the opportunity to notify your customers and self-service portals through Keylane’s “external notifications” module, where via Plexus you can configure which channels to notify and what data to include when sending out notifications yourself. This feature creates numerous opportunities to engage your customers and interact with them frequently, from receipt of payments, change of residence and civil status to initiating dedicated customer journeys. These may be through a self-service session related to planning of retirement, change of address, etc.

Triggers – let the system do the work
Another feature is titled “triggers”. In simple terms, a ‘’trigger’’ is one or more conditions that – if they are all met – execute a task on a policy. An example could be prolonging of a product’s coverage period. If a customer reaches retirement age and continues payment, the product will be prolonged for a selected period of time – while taking into consideration the maximum age allowed for the customer to be covered by the product. Once the prolonged/extended period is completed, Plexus generates and sends a letter to the customer’s preferred communication channel. The entire process is 100% automated.

Other examples include notification of customers as they approach their agreed retirement age to motivate them to plan their retirement themselves through self-service portals and more.

Customise STP to your needs
The approach to STP can vary from customer to customer and process to process. Keylane offers a high degree of standard STP, however our customers always have the possibility to modify or add processes that meet their individual needs and thus make the STP unique for them. The purpose of an STP solution is ultimately to reduce costs by creating automated business processes, which at the same time lead to an improved service experience for both the end-customer and the case handler.

More information

For more information about the STP options in our Plexus platform contact Head of Consultancy Mikkel Arent at

Read more about how our standard SaaS platform Plexus supports life and pension companies’ administrative processes end-to-end here