VNAB's digital transformation: Unlocking value in the co-insurance market
VNAB is the trade association of the Dutch co-insurance market, which represents the interests of 96 insurers & brokers. They facilitate large commercial high-risk insurances in the Netherlands through different types of services: supply relevant IT technology products, guarantee knowledge transfer between members, and function as a physical meeting center. SparkOptimus & VNAB jointly defined a vision to work towards the optimal, predictable, and digitally enhanced co-insurance chain for an excellent customer experience. This vision was iterated with members in round table discussions, where they subscribed to the ambition, while expressing the need for a business case before committing to the joint effort.
“SparkOptimus has been a phenomenal partner that helped us shape a vision for the coinsurance market, quantify the corresponding value potential, and also – most importantly - create broad support for the joint effort to achieve this by close collaboration with 6 key players in a very short timeframe.”
Therefore, in phase two, we worked closely with six VNAB members, each representing a distinct archetype (e.g., local Dutch broker, global insurance provider). Through a sequenced set of interactions with each pilot member, we worked towards four deliverables: an overview of current inefficiencies in the co-insurance chain, a vision for the future co-insurance model, an assessment of the value potential and a compilation of key org, tech, data, WoW requirements necessary to achieve the envisioned future state. Lastly, we used the value potential identified from the six members to determine an overall business case for the entire Dutch co insurance market.
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VNAB now has a broadly shared vision and a clear view on what the improvement points in the co-insurance value chain are. They have consensus among members on the optimal co-insurance chain and a business case to justify the investments to achieve this. This is a huge step towards better serving the co-insurance market supported by VNAB.
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