On 1 December, Nexum Insurance Technologies (IT) together with the Latvian Embassy in Norway and the Latvian Investment and Development Agency (LIAA) organised a business seminar for insurance companies “Internet Distribution Channel for Insurance Companies: Innovation and Challenges”. The high-level business meeting was held at the Latvian Embassy in Norway.
The business meeting focused on key issues and challenges in managing Internet distribution channel to set up a successful model to profit maximization. The main emphasis of the meeting was on the Internet distribution channel for insurance companies in Norway and the case studies of other countries.
This seminar was attend by several largest insurance companies in Norway and the Baltic States such as Gjensidige, Terra-Gruppen AS, Jernbanepersonalets Bank og Forsikring, KLP Skadeforsikring, Storebrand, Saga Forsikring AS, E-Direct SAAS, as well as Finansportalen and UK Trade & Investment – British Embassy. After a welcome address by Ms. Dina Grube, Head of LIAA in Norway, three key speakers highlighted the role of Internet: “Distribution through the Internet and the growing need for multi-channel interaction” by Mr. Erlend Weiby, Internet Manager at Gjensidige, Norway; „Insurance over the Internet: beyond the obvious” by Mr. Tomas Sinicki, Managing Director at Nexum IT Lithuania; “What is my fair price” by Mr. Jon Erland Madsen, Senior Adviser, Web Coordinator Insurances at Finansportalen, Norway.
During the seminar participants addressed the proliferation of technology-based systems, especially those related to the Internet, which are leading to profound changes in how insurance companies interact with customers. Nowadays, as discussed in the seminar, companies are rushing to become more customer oriented. A key component of many successful initiatives is the right model of the distribution channels. In Norway, for instance, more and more insurers are using Internet distribution channel as they continue to balance the needs of different groups of consumers against the cost of distributing their products and services.
Nexum Insurance Technologies is the leading IT services and software provider for financial firms in the Baltic States with extensive experience of consulting in the insurance and banking industries. Nexum IT is Latvia’s Best Exporter 2008 and the fastest growing IT company in the Baltic States based on 2009 market figures. Nexum IT has also received “Microsoft Customer Excellence Award 2010” in the category “Successful Adoption in Foreign Markets”. The firm cooperates with some of the major financial groups present in the Scandinavia and Baltic States such as IF, with Länsförsäkringar AB, Swedbank, RSA Group and Unicredit Bank. In 2010, Nexum IT has won several IT projects in foreign markets, including Finansportalen in Norway and Ateshgah in Azerbaijan.
For more information:
Uldis Apsītis
Nexum IT, Chairman of the Board
email: uldis.apsitis@nexum-it.com
www.nexum-it.com