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2015
Bradesco Seguros: meeting the crucial challenge of digital transformation

With Carlos Mazon,
Chief Operating Officer at Capgemini Brazil

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Bradesco Seguros: meeting the crucial challenge of digital transformation

Helping one of Brazil’s leading insurance companies successfully tackle digital transformation is the challenge taken on by Capgemini and Bradesco Insurance since 2015.

In 2014, Bradesco Seguros, leader of the Brazilian insurance market, decided to undertake a massive digital transformation program. For this sector, digital had become a top priority. “Insurance companies have enormous growth potential of around 11-12% per year. At the time, only 5% of Brazilians have life insurance, for example. The goal is to increase the market penetration rate. To succeed, companies have to fully commit to digital. But Brazil is still lagging behind in this area,” says Carlos Mazon, Chief Operating Officer at Capgemini Brazil.

Like most main Brazilian insurance company, Bradesco Seguros was using a large number of software applications. Some were overly complex, while others were already obsolete. Bradesco Seguros wanted a digital transformation program and called Capgemini to help in this challenge.

« Bradesco Seguros’ digital transformation project is giving to Capgemini a high level of visibility on the Brazilian market. It strengths the company’s image as a specialist in complex and innovative projects. » Carlos Mazon

A first for Brazil

From the outset, Capgemini proposed that Bradesco Seguros implement Pegasystems’ insurance management framework and business process developed specifically for this sector. The project started in 2015 and is in the implementation of the first wave. Considered one of the best software programs of its kind, the application had already been adopted by 8 out of 10 of the world’s top insurance companies, but it is completely new to Brazil.

In terms of technology, this is a major breakthrough. The Pegasystems solution will enable Bradesco Seguros to have an integrated view of its portfolio and accelerate its time to market to launch new products and solutions, all on a single platform,” says Mazon. Bradesco Seguros is pursuing more two important goals: unified view of customers and reduce operational costs.

28 months
Time required to design, develop and implement Bradesco Seguros’ new platform

Of course, implementing Pegasystems’ solution comes with its fair share of difficulties. “It isn’t easy getting it going,” acknowledges Mazon. “Brazil had no experience with Pegasystems. We also are managing a very diverse team. In fact, whether from Capgemini or Pegasystems, everyone working on the project is from abroad.” For that reason, an important part of the project involves the training of Capgemini Brazil teams.

Bradesco Seguros and Capgemini set the tone for the market

By using Pegasystems’ solution, Bradesco Seguros is adopting global industry standards and acquiring the means to scale up its operation,” says Mazon. For the client, this was a “significant strategic move” that will give it a distinct advantage over competitors. But that’s not all. Implementing an entirely new technology will enable Bradesco Seguros to advance in its market.

« Bradesco Seguros is profoundly altering its business model by going digital. Customer focus and innovation are now at the core of its strategy. » Carlos Mazon

Rather than develop its own systems, which is extremely time-consuming, the company decided to import a solution that had already been proven elsewhere. This is a ground-breaking approach in the Brazilian insurance industry. By doing so, Bradesco Seguros set the tone for its sector and is maneuvering the market according to its own innovation standards. It put a lot of pressure on the competition,” concludes Mazon.

Learn more about Capgemini’s Insurance services.

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