Eurostatus Insurance S.A. …Since 1987

The development of an integrated ERP system possessing all functional characteristics and tasks of a modern insurance enterprise.

The company

EUROSTATUS INSURANCE S.A. was founded in 1987, in order to create insurance solutions that cover every need and provide security, protection, care, privileges and services, giving the choice to its policyholders. Since then, it has maintained a continuous presence in the Greek insurance market. After a successful collaboration with Alpha Insurance A/S from Denmark, we now represent the Alpha Group in Greece. The group was founded in 2005 as a private and independent insurance company in order to promote the use of newer technologies and integrating innovative applications in insurance. EUROSTATUS INSURANCE S.A.  draws its strategy while remaining faithful to its objectives and without deviating from its principles. One of its key priorities is to “build” a strong relationship with customers and associates based on respect and trust. At the same time, it aims at consolidating its credibility and solvency so as to respond consistently and successfully to the needs of its customers, offering valuable products, efficient solutions, personal contact and superior service.

Analysis of challenge

Within the framework of an organized effort of process improvement, as well as for the purposes of timely and accurate operational management, and of effective decision making, the substantial issue of information systems’ upgrading and empowerment was put forward. The information environment of EUROSTATUS INSURANCE S.A. is quite complex imposing the adoption of a system that would enhance the day-to-day operations, minimizing bureaucracy, while preserving accuracy and quality of service for every division. The first substantial resolution was to select the ERP solution “NAVins for Microsoft Dynamics NAV” specially designed and adapted for EUROSTATUS INSURANCE S.A. aiming at fulfilling all modelling needs of its business entities yet encompassing the whole set of its operational requirements.

The second resolution was to develop a business intelligence system on Qlikview platform towards providing the dynamic information framework to specific managerial and strategic groups and divisions straight out of the raw data that are continuously stored in NAVins for Microsoft Dynamics NAV.

  • Need for improving the operational environment enabling users to effectively carry out profitable tasks preserving accuracy and quality of service,
  • Continuous Monitoring and Strategic Decision Making through tailor-made Business Intelligence services via Qlikview,
  • Unlimited capacity of geographic and functional expansion using web-based remote activities, decentralized document management, cloud technology & multilevel security.

 The project

The development of an integrated ERP system meeting the strategic and operational standards of an insurance company. NAVins for Microsoft Dynamics NAV (further called NAVins) is an international platform fulfilling all functional features that are required by the insurance sector.

  • The NAVins system is multilingual enabling EUROSTATUS INSURANCE S.A. to expand it in every country the company potentially settles for conducting business,
  • The NAVins system provides dynamic security at different levels enforcing multi-level approval procedures as well as dynamically manageable rules,
  • There is immediate capability of information distribution to all functional subsystems spanning from contract issuance until general ledger administration,
  • Analysis, design, development of a series of reports using data out of NAVins for Microsoft Dynamics NAV, including the appropriate infrastructure and assistance that allows users to create their own reports, when required, on a dynamic, user-friendly environment through the use of QlikView business intelligence platform,
  • The reports play a fundamental role to the timely, accurate and decision making process, based on the unified information retrieved from the central NAVins for Microsoft Dynamics NAV ERP system.

The benefits

NAVins for Microsoft Dynamics NAV works 24 hours a day, 365 days a year, so that everyone involved in the insurance business could have access to information in real time and work together when required & we can all communicate using a system that is easy to maintain, simple to integrate, and quick to learn.

  • Improvement of the operational status of the company through data unified profiles, and strategic decisions through the use of business intelligence that enforces associative search from within dynamic reporting. The potential of Qlikview provides the capacity of exploring the hidden issues, pondering indicators and turning conclusions to feasible actions,
  • Unlimited geographic and operational deployment: NAVins adopts state-of-the-art technology, in order to dynamically be at the forefront of the company’s modern development including territorial expansion: Web-based functionality,
  • The Navins Portal enables a dynamic and remotely available collaboration environment. The partners or insurance agents thus can be flexible and effective in accessing authorized information carrying out their tasks with no need to be physically at the office.

Indicative features of the decentralized environment:

  • Cloud  including the required Security
  • Communicate through standard MS Dynamic NAV Web services
  • Remote Contract Issuance
  • Dynamic management of Partner’s documents
  • Multi-level security based on different authorization roles

Regarding the timeframe of the project:

  • Data migration & Implementation phase: the system went live in one (1) month
  • Smooth operation was achieved after two (2) months of the “go live” phase

 

“NAVins ERP by Diastasys contributed to our company’s potential enhancement to meet leadership against the market’s challenges & hard competition that require operational efficiency, in-depth knowledge & handling of business information, real-time support to strategic decisions via Business Intelligence , as well as geographic expandability through web-based management in a multilingual, secure & consistent way”  

Manolis Haralambis C.E.O

EUROSTATUS INSURANCE S.A.