Customer case study

Heineken captive assured of optimal business operations through the application of data analytics

By: Noria, 10. March 2022

Through the implementation of Noria’s PARIS captive insurance solution, Heineken’s captive insurer entity Roeminck (here in Heineken) has transitioned to a single source of truth for its global insurance operations, with key benefits including better data quality and predictive analytics.

The challenge

Heineken sought a more efficient way to insure their large global asset portfolio with thousands of assets requiring registration, management, and claims settlement. Over the last 150 years, the Heineken group has acquired production facilities, lorries and warehouses in more than 70 countries. In England for example they have approximately 3000 pubs alone. All of these assets are insured against risks such as damage and fire.

Without a comprehensive IT system, Heineken had previously exchanged data with stakeholders, subsidiaries, external insurers and supervisory bodies through inefficient means such as email, PDF attachments and Excel spreadsheets. This meant that:

  • The central team lacked a uniform way of making decisions about which risks to insure.
  • Data had to be collected from several different sources; a time-consuming process that did not give them a sufficient overview.
  • Effective data analysis was not possible, meaning Heineken missed out on opportunities to optimise the processes, cost saving and risk reduction.

The solution

Heineken’s search for a comprehensive system led them to engage with Noria and implement our end-to-end insurance solution, PARIS. Heineken’s reasons for partnering with Noria include:

  • Noria’s combination of insurance market knowledge and IT expertise.
  • Noria’s SaaS (Software-as-a-Service) model which enables Heineken to focus on the business of insurance rather than worrying about IT management/maintenance.
  • PARIS’s ability to improve data quality and streamline communication.

Noria’s team of experts followed a delivery roadmap that began with identifying challenges and requirements, followed by a design process during which Noria delivered thoroughly tested working modules through a series of short sprints. This resulted in a functional solution within months.

Benefits

Heineken has reported several benefits as a result of implementing PARIS, including:

  • All information is centrally accessible. PARIS has created a “single source of truth” for Heineken, allowing everyone to access the same current data in one portal and share it with ease.
  • Improved data quality due to the system’s clearly defined fields that make it clear exactly what information must be provided by users. It is not possible to settle a claim until all data has been entered correctly.
  • Easier data retrieval: The user-friendly portal provides clear overviews for Heineken and its OpCos (operational companies), and makes it easy to find information about insurances, properties, claims, policies, and contact details. Third parties such as accountants or agents can be given direct access.
  • Time savings: With data now available at the touch of a button, users do not have to waste time searching for email attachments and spreadsheets across multiple systems. The central team has also noticed a decrease in questions from users.
  • Better risk management: Having all data available in a single, integrated system makes it easier for the captive to get a full picture of the risks, helping decide which of these risks to bear and which to reinsure.
  • Faster regulatory reporting: Reports can now be run simultaneously, much faster, and with fewer actions. Heineken is saving 25 hours per month on audit work alone, they are able to carry out ad hoc checks and audits much faster. Preparations that used to take two days now take only 18 minutes.
  • Data analytics: Heineken now extracts more value from its data through PARIS’s data analytics capabilities, which make it possible to control costs, streamline processes, and discern trends more reliably than before. This will enable Heineken to transition to a more preventative way of working.

“I know of no other supplier that so clearly and closely satisfy the requirements of our branch”, said Heineken insurance manager, Stef Bank. “The front-end of the system is extremely user-friendly, and Noria is also very good at configuring the back-end, the integration of applications and the system management.”

PARIS is an end-to-end insurance solution deployable on-premise or in the Cloud. Today clients like Equinor, Hydro Statoil and many more benefit from our solution.

Get in touch today. Send mail to ronny.reppe@noria.no to discuss how our next-generation insurance software can benefit your organisation.

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