Digitalising specialty insurance: Laurent Verheyen’s winning bet
Is it possible to digitalise specialty insurance? Specific expertise, tailor-made products, complex risks: this type of insurance does not often go hand in hand with digitalisation. Yet it is in this sector that Laurent Verheyen, a mandated underwriter and member of the AXA group, chose to reinvent himself.
A word from the CEO
Combining tailor-made and technology
Jean Verheyen has more than a century of experience in two markets: freight transport and exceptional estates. Two fields that, in principle, leave little room for standardisation.
“We are a bit like a tailor,” says Laurent Verheyen. “Each contract is designed for a specific need.”
The main reason behind this drive to digitalise? Reduce the workload on simple tasks so that teams can save time and focus where they add value: analysis, relationships, decisions.
The full interview with Laurent Verheyen
Digitalisation: where to start?
The first step was pragmatic: identify the most structured products, with clear rates, and build simple digital flows. “The idea was not to revolutionise everything at once, but to move forward where we can,” explains Laurent Verheyen.
But very quickly, the project shifted towards more technical products, where digitalisation seemed less obvious at first sight, especially without specialised support.
“we did not have to simplify our products to fit the platform.”
Digitalising without compromising your products
Rather than developing a solution in-house – a costly and time-consuming approach – Laurent Verheyen chose to rely on Insurgate.
“Investing in a dedicated department would have been like using a bazooka to kill a fly,” he tells us.
Thanks to Insurgate, the company was able to share costs with other players in the sector and benefit from a flexible platform.
“Contrary to what one might fear, we did not have to simplify our products to fit the platform. Insurgate was able to create a solution that respects our specificities.”
Digitalisation as a growth lever
This first stage of digitalisation allowed Laurent Verheyen to optimise his internal processes and become more responsive. But the ambition does not stop there. “The goal now is to extend this transformation to our management tools and our interactions with our brokers,” he continues.
Integration with existing tools is also a key issue. “We adopted an ecosystem approach, where Insurgate fits in alongside our stable back-office. This allows us to test and adjust over time.”
Easy adoption
While the efficiency gain is obvious, adoption of a platform by brokers does not usually happen overnight.
“It takes time for our partners to take ownership of the tool and understand the benefits. It is a multi-year investment.”
Fortunately, Insurgate is already used by other insurers, which makes the transition much easier. “Some of our brokers already had access to the platform, which greatly simplified the rollout.”
Investing in the future
By relying on Insurgate, Jean Verheyen has found the right balance: keeping his demanding standards as an underwriter while gaining efficiency. Proof that technology, when used well, can serve even the most specialised models. “Thanks to this transformation, we were able to absorb our growth without having to increase our headcount,” concludes Laurent Verheyen.
This collaboration shows that transformation does not necessarily mean major upheaval. With the right partners and a gradual approach, digitalising specialty insurance is not only possible, but also full of opportunities for the future.
