Wide Group Case Study: the future of insurance is digital

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Founded in October 2016, Wide Group is the leading Italian Insurtech Broker Aggregator and is positioned among Italy’s top five independent insurance brokerage companies by turnover. Its business model is based on a solid technological infrastructure designed to automate and simplify insurance brokerage processes.

In recent years Wide Group has achieved accreditation as a real, simple and innovative solution for the benefit of Italian insurance brokers who want to embrace change, taking the quality, efficiency and innovative execution of their professionalism to a new level of growth.

In November 2020, Wide Group decided to rely on the SlimPay solution to address the requirement to provide its clients with an optimal payment experience and a complete service more in line with new emerging needs, characterised by other electronic payment methods (bank transfers and credit cards) already in place. We present the Wide Group Case Study and we discuss how the future of insurance is digital.

SlimPay guarantees a system of direct debit to the holder’s current account that is automated, secure, easily activated and cancelled. It also relieves the end client of concerns over deadlines, renewals and outstanding contributions, making it simpler and more flexible for them to manage their own insurance status.

“We aim to satisfy the requirements of ever more advanced and digitally savvy clients by guaranteeing secure, reliable, fast and traceable payment methods and endeavoring to meet their personal and increasingly advanced needs”. – Gerardo Di Francesco, Co-Founder and Managing Partner of Wide Group

Why did Wide Group choose SlimPay?

The choice was aimed at offering clients a new secure and compliant payment channel not utilised by traditional insurance brokers.

This payment method enables the broker to emulate the subscription fee business model, which matches the requirements of increasingly advanced and digitally savvy consumers and the current trend of many platforms in use.  

“We wanted a payment platform that would enable us to continue concentrating on the client and automate our payment flows. SlimPay has improved our experience by simplifying the collection and renewal processes of insurance policies.

‘’We chose SlimPay for its ease of signing up to mandates, which is essential if we are to offer our clients a seamless solution’’. – Gerardo Di Francesco, Co-Founder and Managing Partner of Wide Group

Wide Group’s challenges

In an increasingly competitive and dynamic business, the insurance sector is engaged in a search for the best strategies with which to face ongoing challenges relating to market development, by seeking ever more innovative and efficient service models to offer its clients.

In order to respond and adapt to ongoing developments, Wide Group has set itself the goal of offering a highly distinctive service based on innovative solutions capable of meeting its clients’ needs.

Wide Group’s challenges:

  • reduce waste of paper, travel and pollution; 
  • guarantee collective health safety and protection in the context of a global pandemic, by avoiding exchanges of cash as much as possible;
  • simplify complex and costly collection operations;
  • reduce the risk of payments not deposited within the prescribed deadlines;
    eliminate possible human errors in collection operations.

The SlimPay solution: an efficient and flexible payment system

To support Wide Group in addressing the challenges of the reference market, SlimPay has made available its own electronic signature module, which enables the SEPA direct debit mandate to be signed entirely digitally.

SlimPay does not stop at the signature process but offers a complete payment system.

‘’SlimPay has improved our experience by simplifying the collection and renewal processes’’. – Gerardo Di Francesco, Co-Founder and Managing Partner of Wide Group

SlimPay’s digital solution, already integrated by Wide Group, has enabled the launch of Wideflix, the new and innovative package which involves payment of the premium split into monthly mini installments, thereby guaranteeing maximum cover of the five main risks for protection of the person and their family.