Industrial Risk Management
Industrial Risk Management process digitalization
The case study involves the digitalization of the Industrial Risk Management process with the use of insurance tools. In particular, the application allows for the management of a large amount of data related to companies, plants, historical and active claims, and premium allocation. The solution was designed to ensure the simplicity and security of the information, overcoming limitations of spreadsheets.
Softlab designed a core system, including the architecture and database (plant registry, policy registry, coefficient tables, and claims registry) to support policy management, specifically Property All Risks coverage of the plants. Softlab managed plant and policy registries, including the functionality of input, modification, and dismantling of plant registry and required basic attributes, such as premium allocation calculation and claim management. Softlab produced a summary report of the insured amounts per plant, company, and business unit, enabling the synthesis of policy, deductibles, and major parameters of the insurance program. Softlab managed coefficient tables, plant-specific risk profiles, and automatic premium allocation calculations, generating the automatic premium allocation sheet by company and business unit with drill-down capabilities to the specific plant level. Additionally, Softlab implemented a claims management process supporting events covered by the Property Damage policy, including communication management and structured collection of information related to specific events, opening and managing claims, evaluation of PD-BI, and claim monitoring.
The application went live with a direct and streamlined approach using Agile methodology, involving continuous participation from all stakeholders. Softlab managed evolutions quickly and effectively. The application proved to be extendable in future phases to other policy types, including personal policies.
The project involved digitizing the Industrial Risk Management process, with the use of insurance tools, including architecture and database design, and claims management process implementation. The solution was designed to ensure the simplicity and security of information, overcoming limitations of spreadsheets.