Verex only work with Vehicle Manufacturers to sell insurance to their customers via franchised dealers and the manufacturer's web site. When they win a new client they need to go to market within 3 months. This includes full integration with the manufacturer's web site, dealer systems and reporting. All of Verex's interaction with dealers and customers must be fully branded in line with each client's brand, e.g. Fiat customers are dealt with as Fiat insurance.
Operationally, Verex wanted to do this using one underlying platform and a single customer service team who can act on behalf of each brand as required. The solution overview was that Verex selected the TIA system as the core operating platform for the business and ORIAC as the TIA partner to implement and manage the system.
Verex has a scalable, world class insurance platform to support the business in the UK with capability to expand into other European markets. Vehicle manufacturers, their dealers and customers are retained fully within the manufacturers brand experience. The solution implemented has created a highly cost effective platform with a significant part of the cost being volume based and therefore business success dependent. Verex enjoy low cost of ownership without the requirement for an internal IT resource overhead.
ORIAC initially implemented TIA as a full white label system for comprehensive private car motor insurance within 6 months. The products were created so that Verex can easily create a new version for a new manufacturer in 3 months. This includes a full quote and buy web front end that can be deployed to dealers via the manufacturer intranet and to the end customers via the internet.
Verex Group Ltd is a leading provider of fully branded motor insurance for vehicle manufacturers
ORIAC continue to support Verex and have added integration to back office accounting systems, premium finance systems, data warehouse and various third party data sources available via web services.