Açoreana Seguros was born on April 2, 1892 “at the very heart of Ponta Delgada” and has been extending its activity throughout the country.
In 1999, Açoreana completed the acquisition of Oceânica – Companhia de Seguros and in 2002 it strengthened its market expansion role through the merger with O Trabalho – Companhia de Seguros, S.A. and O Trabalho Vida – Companhia de Seguros, S.A. In 2010, it completed the aquisition of Global Seguros.
Açoreana operates solely and exclusively in Portugal, both in the life and non-life branches, having a wide network of distribution channels. It is one of the four biggest insurers operating in Portugal in the Non-life branch.
In 1993, to centralise all its operations in a single solution and to modernise its technological infrastructures, Açoreana adopted the solutions i2S Life and i2S Non-life. In partnership with i2S, Açoreana became one of the biggest Portuguese insurance companies, with its different lines of business being based on the i2S solutions.
In 2016, it was acquired by Apollo Global Management, which originated the legal merger of insurers T-Vida, Logo and Açoreana in Tranquilidade, who changed its company name to Seguradoras Unidas, S.A. However, Açoreana continued operating under the same trademark and i2S remained being the partner of choice regarding insurance platform management.
SIV implementation: i2S Channels
The implementation of Açoreana’s non-life distribution channel was a turning point with regards to the services provided to their customers using its network of agents, having increased the efficiency in the issuance of new contracts, as well as its production.
The implementation project was gradual and phased, and allowed the company to define and create any product and to make it available in the distribution channel immediately. This way, brokers/intermediaries could issue contracts automatically and instantaneously, with no need to go to the insurance company, the contract being processed and issued within a single process.
The i2S Channels solution includes a risk acceptance module, which aims at controlling business acceptance according to parameters previously defined by the insurance company as to the issuance of contracts by third parties (intermediaries, brokers).
Alongside this implementation, the Life distribution channel has also been included, which enabled to centralise the company’s operation in a single distribution channel: the integrated sales system (SIV). With this development, the i2S Channels solution covers all Açoreana’s business areas, giving agents the possibility of creating a life or non-life contract using the same platform – SIV.
Specifically, the i2S Channels’ features allowed to decentralise some of the company’s services, which enabled to improve their quality for customers: the agents could now issue/change contracts “facing the client”, which increased the company’s production as the number of issued contracts has grown considerably.
Rui Palma | Head of IT