24hassistance Enhances Insurance Pricing and Quotation with DecisionRules

Read the PDF: Visual Summary of 24hassistance's Insurance Pricing and Quotation Transformation with DecisionRules

About 24hassistance

Founded in Italy, 24hassistance specializes in providing motorcycle insurance with a focus on customer-centric solutions. With an annual revenue exceeding €20 million and a dedicated team of 50 employees, the company has become a recognized name in the insurance industry.

24hassistance offers a range of insurance products, including policies for motorcycles, fire and theft protection, and third-party liability. Their operations encompass dynamic pricing, tailored quotations, and streamlined renewal processes for their clients. Operating in a highly competitive market, the company strives to stay ahead by leveraging cutting-edge technologies to enhance efficiency and scalability.

Challenges

Before implementing DecisionRules, 24hassistance faced significant operational bottlenecks:

• Manual and Time-Intensive Processes: Rule changes required coordination between business and IT teams, involving multiple steps such as raising requests, evaluations, and implementation in a test environment. These changes took weeks, delaying responsiveness to market needs.
• Resource Drain: Managing business rules relied heavily on IT support, consuming 1.5–2 full-time equivalent (FTE) staff annually, impacting productivity.
• Complex Workflow Management: Tariff updates for different partners, dynamic pricing models, and customer segmentation required intricate manual intervention.
• ‍Scalability Constraints: With increasing demand, the company needed a solution capable of processing millions of API calls monthly while maintaining accuracy and speed.

The Solution: DecisionRules

24hassistance adopted DecisionRules to automate and simplify its complex insurance pricing and quotation workflows. The no-code platform empowered business users to independently manage decision logic, significantly reducing reliance on IT.

Key Use Cases

1. Dynamic Pricing for Motorcycles
   DecisionRules automates pricing calculations based on multiple parameters, including:
   
   • Sales channels: Direct customers or those referred by partners.
   • User type: First-time buyers versus recurring customers.
   • Quotation type: New policies versus renewals.
     The platform ensures every customer receives a tailored price by processing complex calculations in real time.
2. Tariff Management for Partners
   
   • DecisionRules automates tariff assignment for key partners, such as Societe Generale and Verti.
   • Tariff versions are dynamically selected based on quotation parameters, ensuring accuracy without manual updates.
3. Quotation Management
   
   • Renewals: Automatically generates renewal proposals for existing customers.
   • Re-Quotations: Tracks policies of non-customers and sends tailored offers upon detecting their current insurance is about to expire.‍
   • Standalone Products: Enables fire and theft policies to be sold as separate products or bundled with third-party liability coverage.

Implementation

The implementation of DecisionRules was swift and efficient, highlighting the platform’s ease of use and adaptability:

• Testing Phase: The initial testing environment was deployed in just one day, with basic rule testing completed within a week.
• Rule Development: Over 30 complex rules were designed, tested, and integrated into 24hassistance’s systems within three weeks.
• Cross-Team Collaboration: The platform empowered six to seven team members to independently create, update, and test rules. IT oversight transitioned to an advisory and quality assurance role, enabling smoother operations.
• Scalability Achieved: DecisionRules seamlessly integrated with 24hassistance’s existing systems, processing up to 9 million API calls in a single month without performance issues.
• Zero Downtime: Since deployment, the system has maintained 100% uptime, running flawlessly for over 1.5 years.

The implementation exemplified DecisionRules’ ability to transform business workflows quickly and effectively, delivering both immediate and long-term reliability.

Results and Impact

24hassistance experienced transformative benefits after adopting DecisionRules:

Time and Cost Savings

• Time Reduction: Rule changes that previously took weeks now take seconds, significantly improving responsiveness to market changes.
• Cost Efficiency: Automation reduced IT dependency, saving 1.5–2 FTE annually, equivalent to an estimated €150,000 in labor costs.

Scalability

• High Volume Processing: The system processes an average of 6–7 million API calls monthly, peaking at 9 million. This scalability supports business growth without additional IT overhead.

Operational Efficiency

• Faster Turnaround: Quotation and pricing workflows are now automated, freeing up business teams to focus on strategic initiatives rather than repetitive tasks.
• Error Reduction: Automated processes reduced human error, ensuring consistent and accurate rule implementation.

Regulatory Compliance

• Adherence to Standards: The system ensures all workflows comply with stringent insurance regulations, reducing legal risks.

Future Plans

24hassistance plans to expand DecisionRules’ implementation across its operations to further enhance efficiency and customer experience:

1. Car Insurance: Extending the platform to manage dynamic pricing and quotations for four-wheel vehicles, unlocking a new market segment.
2. Service Desk Automation: Using DecisionRules to enable service desk teams to manage parameters directly, reducing IT involvement in routine tasks.
3. Internal IT Optimization: Simplifying internal processes, such as database configurations, by integrating DecisionRules as a management tool.

Conclusion

The adoption of DecisionRules has revolutionized 24hassistance’s operations, transforming how they manage dynamic pricing and insurance quotations. The platform has:

• Enabled rapid rule updates and improved scalability.
• Reduced operational costs and IT dependency.
• Empowered business teams with autonomy and flexibility.

As 24hassistance expands into new insurance segments, DecisionRules remains a strategic partner, providing the tools needed to adapt to evolving market demands. With robust capabilities, seamless integration, and unparalleled support, DecisionRules ensures that 24hassistance is well-equipped for sustained growth and innovation in the competitive insurance landscape.