Strong digital foundation strengthens competitiveness
Topdanmark Liv’s ambition to better meet their customers’ needs and create a future-proof digital foundation was one of the reasons why they chose Keylane’s standard industry platform Plexus, which has enabled Topdanmark to successfully launch new initiatives within the first year after the go-live on the new platform.
The benefits of a flexible digital industry platform
Like many other life and pension companies, Topdanmark Liv was challenged by a complex IT landscape consisting of older legacy systems that made it difficult to adapt the business to the new digital era.
In 2019, Topdanmark Liv went live with Plexus, and one year after go-live, the company has experienced several benefits of an adaptable, digital platform – they have succeeded in launching new initiatives that would not have been possible at the same speed if the business had continued to run on the old systems.
Vivian Weis Byrholt, CEO at Topdanmark Liv, says: “Within the first year after go-live with Keylane’s Plexus platform, we experience faster time-to-market when we launch new products and services, as well as flexibility in entering into new partnerships to benefit our customers.”
Since the transition to the new platform, and thanks to its in-built flexibility, Topdanmark Liv have been empowered to launch new and up-to-date products, such as a new climate product that gives their customers the opportunity to target their investments according to their personal convictions.
Stronger partnerships and better data
Furthermore, it is now possible to enter into exciting partnerships with, among others, fintech start-ups to jointly offer new products. Topdanmark Liv, together with Heap, launched a digital pension product for entrepreneurs and freelancers, which is built on top of Plexus, and they have signed a partnership with Pensure to achieve even better customer engagement through improved customer experience and increased targeted communication.
In addition, Topdanmark Liv has introduced a new cross-cutting sales system which ensures that all insurance agents work within the same system following the same standards, thereby achieving quality and efficiency in their work.
The new platform ensures the possibility of better data, which makes it easier to detect and utilise sweet spots to develop better and sharper business initiatives based on available data, which helps to increase Topdanmark Liv’s relevance to customers.
All in all, Topdanmark Liv has achieved a strong digital foundation by replacing their legacy systems with a modern industry platform, and a year after go-live are experienced the following:
- Stronger competitiveness – Topdanmark Liv can act and navigate quickly in relation to new industry requirements and customer needs, and can enter into exciting partnerships to offer new products.
- Secured their digital foundation for the future – a strong platform that ensures agility and relieves the need to depend on key employees.
- A better starting point for becoming more data-driven – the platform provides access to data in a new way that can be used to improve customer interaction.
Topdanmark is Denmark’s second largest insurance company, which offers a wide range of products within insurance and pensions to both private and corporate customers. The company was founded in 1899 and employs today around 2,400 employees throughout the country. Topdanmark is a public limited company and listed on Nasdaq Copenhagen A/S. For more information please visit www.topdanmark.dk.
Plexus is a SaaS-based standard industry platform for managing all administrative processes in life and pension companies. The platform’s strong architecture, scalability and digital foundation make it possible to act quickly to future industry standards, compliance and customer needs and to enter into new partnerships – all of which are drivers in achieving a stronger competitiveness. For more information visit Plexus.