Client
AIB Life
Sector
Featured, Financial Services, Financial Services, Private Sector
Technology
Microsoft Power Platform
Introduction
Saol Assurance d.a.c., trading as AIB life, is a new and innovative provider of protection, pensions and investment products in Ireland. AIB entered into a joint venture agreement with Great-West Lifeco to provide a combined life and pensions offering to their customers. AIB is Ireland’s largest banking institution, and this new venture presented a great opportunity for a modern cloud-native technology offering.
AIB life is a regulated entity delivering financial products to retail customers. Confidence that their workplace services would be highly resilient, and their data fully secured was a key requirement of a partner for these services. As part of its mission to help customers prepare for retirement, protect their loved ones and invest in a flexible way, AIB life strives to deliver high-quality service in support of financial advisors, by building two innovative applications that would streamline workflow processes and enhance case-handling capabilities.
1. Sales Compliance QA App
2. Advice Support Unit App
Sales Compliance QA App
The Challenge
AIB life conducts “quality reviews” as a core component of its internal control framework, ensuring that its sales processes comply with regulatory standards and customer expectations. However, with no solutions available in the market or out-of-the-box within core administration platform, the process for managing these reviews would be manual and time-consuming. AIB life needed a more efficient and reliable way to create, assign and track the quality checks for each case, as well as to generate reports and insights on the outcomes of the reviews.
The Solution
Ergo collaborated with AIB life to develop an application that would provide a workflow and case management tool to enable these quality reviews. The solution was built using the Microsoft Power Platform, a low-code, rapid development tool that is highly agile and capable of meeting diverse business needs. The Sales Compliance QA App leveraged a model-driven app and Power Automate to create specific checks depending on the case type. Ergo also implemented an Azure dataflow to trigger cases from further upstream in the sales process into the app, stored in the AIB life Data platform.
The app allowed administrators to design templates for reviewing the new business cases, with customised checks for various kinds of cases, ranging across product types and customer circumstances. These checks could include validating the investment strategy, the suitability of the product, or the documentation of the customer’s needs and preferences.
The app also enabled users to add notes and commentary to the case under a timeline and assigned different levels of user access and approval based on a hierarchy of roles and user types. An outcome would be assigned to each case reviewed, and the case could be marked as completed with a full audit trail available. The app also provided scalability and user-centricity, allowing AIB life to self-generate new templates when they needed to apply new or additional checks that were not pre-configured at the time of building the app.
The Impact
The app introduced efficiency and reliability in delivering fit for purpose quality reviews to support AIB life’s internal control framework and to protect the interests of customers. The app also enabled AIB life to monitor and improve its sales processes, identify and address any gaps or risks, and ensure compliance with regulatory and ethical standards.
Advice Support Unit App
The Challenge
The “Advice Support Unit” is a team within AIB life that handles complex cases that require bespoke financial advice for affluent and business customers. The Advice Support Unit was using manual processes that were inefficient, and difficult to operate. There was a lack of visibility, traceability, and automation, resulting in manual work, delays, and rework. AIB life needed a modern and scalable solution that would enable the Support Unit to manage and resolve complex cases more effectively and efficiently.
The Solution
Ergo developed an application that provides a platform for managing and monitoring complex cases. The application consisted of two components: an app for the AIB life staff and an app for the AIB Advisors. The application was also built using the Microsoft Power Platform and integrated with the AIB life Data platform.
The first component is an app for the AIB life staff, that enables the team’s management to allocate cases and view the progress of all cases. The app also allows staff to record the quality and completeness of each case and request additional information if needed.
The second component is an app that enables the AIB Advisor to check the status of their case review and communicate with the AIB life staff member in charge of their case through the system. The app also provides different users with the option to assign a prioritisation to the case. This is augmented with the capability to link cases together, so that the AIB life team can review the previous cases with the same references.
The Impact
The application enables efficiency and transparency of the case document creation process for staff. It eliminates the need for using manual processes for handling the complexity involved in the process. Further, it provides a secure communication channel between the AIB life staff and AIB Advisors. It ensures that management has full visibility over all cases in the system and is an extremely powerful solution for delivering insights and enabling performance management.
“Ergo has been an invaluable partner in our digital transformation journey. Their expertise and dedication have helped us streamline our processes, enhance our customer and employee experience, and achieve our business goals. We look forward to continuing our collaboration with Ergo.”
Conclusion
The two applications that Ergo built for AIB life demonstrate the power and potential of Microsoft Power Platform to transform business processes and workflows. By using low-code, rapid development tools, Ergo was able to deliver customized, scalable, and user-friendly solutions that met the specific needs and challenges of AIB life. The applications also improved the quality, efficiency, and reliability of the services that AIB life provides to its customers, as well as the collaboration and communication among its staff and advisors. Ergo and AIB life will continue to work together, building on this successful partnership to further innovate and enhance their digital capabilities.
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