Europe’s automotive industry and the insurance sector.

Challenges and Opportunities for the Automotive Industry and the Insurance Sector in Europe: Sapiens with IDITSuite as the Foundation for Insurers.

The automotive industry in Europe is currently undergoing a profound transformation. On one hand, there is a growing demand for electric vehicles due to stricter emission regulations and increasing environmental awareness. On the other hand, vehicles with combustion engines are still in demand.

Garanty management in the automotive industry

In addition to the new challenges in coverage concepts due to the increasing development and approval of electric vehicles, as well as liability issues related to autonomous driving, warranty management remains one of the most important tasks in the automotive industry. It enables manufacturers and dealers to attract and retain customers in the long term. Warranties are a significant instrument for ensuring customer satisfaction and thus contribute significantly to the success of a company. They are also part of the sales strategy, an important collaboration point, and a hotspot for data management. However, suppliers often face significant pressure to meet the extensive warranty requirements of original equipment manufacturers (OEMs) and incur additional costs in the process.

OEMs are expanding their warranties to emphasize product quality and outperform the competition. At the same time, suppliers work closely together to ensure that the increasing complexity of vehicle components does not affect reliability and does not increase warranty costs. Both sides are looking for better ways to utilize diagnostic data and optimize the warranty process.

Vehicle manufacturers and their partners throughout the supply chain are facing a variety of challenges that have a negative impact on warranty management. These include lagging sales in Europe, stricter regulations, industry restructuring, increasing competition, and higher product complexity.

In addition to the challenges mentioned above, there are many complex questions to be answered regarding warranty management. For example, companies need to consider what level of participation and leadership is necessary to improve collaboration within the supply chain. Furthermore, the question arises as to what companies can or should do to improve the effectiveness of their warranties. Where do collaboration problems occur most frequently and why? When should new analytics tools be used to optimize the warranty process? How can warranty management be used to improve the overall quality and reliability of parts, systems, and vehicles?

Sapiens’ IDITSuite as a Solution

In light of the challenges and changes in the automotive industry, Sapiens has developed the IDITSuite as a solution for insurance in the automotive industry. The IDITSuite is a comprehensive policy management system specifically tailored to the needs of property insurers. It is modular and provides all the necessary modules for end-to-end processes in the complete lifecycle of a contract, including product, policy, claims, partner/contacts (360° view), premium collection, workflow, API integration platform, document generation, rights and roles, analytics and reporting, and more. The IDITSuite supports insurer autonomy and enables fast time-to-market launches through complete configuration in all areas, including product, claims, documents, and workflow. It is a multi-award-winning product that consistently reaffirms its leading position in the XCelent Awards and Gartner Magic Quadrant in Europe year after year.

Mercedes-Benz Insurance and Sapiens

In a joint project between Mercedes Benz Versicherung AG and Sapiens Germany, various warranty insurance products are currently being implemented. Mercedes-Benz Insurance relies on the extensively tested Sapiens solutions to quickly and flexibly bring a broad range of offerings to the market for its customers.

The warranty insurance offers customers an extension beyond the standard two years that typically apply to Mercedes vehicles. With their warranty products, Mercedes-Benz and smart can provide their customers with long-term financial protection against unexpected repair costs for the most important and, above all, costly components. The premiums for warranty insurance are particularly attractive.

In addition, Mercedes-Benz Insurance provides a Europe-wide damage service at every authorized Mercedes-Benz partner to ensure fast and convenient processing. Extending the warranty also contributes to increasing the vehicle’s value and driving safety, as repairs are not delayed or deferred. If customers wish to sell their vehicle, the warranty can be transferred to the subsequent owner. With the warranty extension products from Mercedes-Benz Insurance, customers can enjoy up to 12 years of guaranteed peace of mind and worry-free driving.

By using their solutions as the basis for the future platform at Mercedes Benz Insurance, Sapiens significantly contributes to the customer satisfaction and loyalty of Mercedes Benz Insurance.