VERMEG – Software publishers: Strategic partners for insurers?

Article rédigé par Vermeg dans le cadre de leur sponsoring de l’ACA Insurance Days 2024 dont le contenu engage exclusivement son auteur.

The insurance sector, currently undergoing a structural transformation, faces pressure from new regulations combined with societal changes, emerging risks, evolving technological usage, and increasingly demanding policyholders.

This evolution requires a comprehensive overhaul of both the back office for greater operational efficiency and compliance and the front office to deliver a customer experience aligned with digital standards. In this context, can specialized software publishers become structuring partners, offering open, configurable, and interoperable platforms?

Technological solutions serving an integrated operational model

Next-generation technology platforms cover the entire insurance lifecycle: product management, underwriting, endorsements, claims handling, customer relations, sales monitoring, distribution, and compliance. They rely on modular LCNC (Low Code / No Code) architectures, which simplify the orchestration of complex business workflows while offering agility and scalability.

On the front-office side, the goal is to provide seamless, customizable, omnichannel journeys that meet regulatory requirements. Distributor portals, simulators, intelligent forms, integrated document management, electronic signatures, and KYC/AML modules help create a coherent, secure, and controlled digital environment. Empowered by technology, advisors can focus on delivering high-value relationships, tailored advice, and business opportunities.

Back-office modules ensure robust, automated, and compliant management of operations: data flows, contract management, premium and commission calculations, taxation, and regulatory reporting (Solvency II, PRIIPs, IFRS 17), with configurable rules adapted to the business line (savings, protection, health, P&C).

Addressing the specific needs of life insurance and savings

In life insurance, current solutions cover both liability and asset dimensions in an integrated way.

On the liability side, they manage underwriting, premiums, endorsements, redemptions, switches, additional payments, claims management with advanced granularity (multi-contract, multi-bucket, differentiated tax treatments, handling of PEP, DSK, Fourgous, etc.). On the asset side, they support portfolio modeling, strategic asset allocation, asset/liability matching, and regulatory reporting obligations (Solvency II, IFRS 17).

These systems also enable dynamic management of savings products, including the configuration of guarantees, investment modes and options, fees, unit-linked instruments, allocation rules, and beneficiary clauses. The presence of an integrated tax engine is essential to address all tax regimes, including the most complex, while maintaining traceability of movements critical for audits and financial monitoring.

Journeys are fully digitalized: wealth simulations, investment proposals, policy issuance, remote signature, online portfolio valuation, and manual or scheduled fund switches. Policyholders remain autonomous while benefiting from contextualized support tailored to their investment profile or savings horizon.

A driver of commercial performance and compliance for distribution networks

These platforms enable precise management of relationships with brokers and partners: commercial agreements, rate schedules, automated commission calculations, onboarding of new introducers, and affiliate campaign management.
They facilitate the creation and oversight of the entire contractual lifecycle with brokers, agents, and distributors in a standardized, secure, and compliant environment.

All of this is driven by dynamic dashboards and contextualized KPIs based on user profiles (administrators, supervisors, sales). Action traceability, case history, and document compliance are natively supported via customizable workflows interconnected with the insurer’s systems.

The objective is to build lasting, trust-based relationships with partners while ensuring compliance and transparency of contractual processes. Approval circuits, action logging, and document governance rules reinforce the required level of operational discipline.

Seamless integration in complex IT environments

Software publishers offer open architectures that easily interface with existing ecosystems: third-party repositories, document management systems, KYC tools, CRMs, and business back-office systems. Interoperability is ensured through standard connectors and proven protocols (REST APIs, CSV, XML, etc.). Modules such as financial message hubs enable full integration of accounting, regulatory, or banking flows, even in high-volume contexts.

Moreover, these platforms embed integrated compliance components (IDD2 profiling, AML/CFT controls, risk profile assessments), granular user rights management, monitoring alerts, and approval workflows ensuring controlled and certifiable governance of digital journeys.
Business users benefit from adaptive dashboards, a 360° client view, real-time activity tracking, and the ability to make informed decisions across all insurance operations.

The transition toward digital, modular, and integrated insurance is no longer optional it is a strategic lever for competitiveness. Software publishers are no longer just tool providers. They are true transformation partners for insurers. By offering configurable, scalable, and interoperable solutions, they enable a combination of operational performance, regulatory compliance, commercial agility, and customer excellence.
Choosing these partners is about equipping oneself to meet today’s challenges and build the insurance of tomorrow.

Expert Opinion: Francisco JARREGA

Francisco JARREGA

General Manager Europe – VERMEG for Banking & Insurance Software

Today, in Luxembourg’s life insurance sector, the challenges are clear: stronger regulatory requirements and higher customer expectations. There is no room for approximation anymore. Technology has become an essential lever. It allows us to automate processes like onboarding, client data updates, and the production of regulatory reports. We gain in reliability, speed, and above all traceability!

Technology partners provide better visibility into the portfolio and customer behavior and help us respond more quickly to regulatory requests. What matters today in the life insurance sector is finding the right balance between compliance, operational performance, and quality of service. In that respect, well-integrated technology makes a real difference.