Case Studies

HDI / Talanx Group

Talanx is the third-largest German insurance group in terms of premium income and one of the largest in Europe. The Hannover-based company is active in more than 150 countries. The Talanx Group operates as a multi-brand provider with a focus on B2B insurance.

The group’s companies operate under a number of different brands. These include HDI, delivering insurance solutions to retail customers and industrial clients, Hannover Re, one of the world’s leading reinsurers, the bancassurance specialists Neue Leben Insurers, PB Insurers and TARGO Insurers as well as Ampega, a funds provider and asset manager. In the industrial lines division HDI Global SE, which has specialised exclusively in this business, dedicates itself to the insurance needs of trade and industry in Germany and worldwide. Companies of the HDI brand operate internationally especially in its core markets Central and Eastern Europe as well as Latin America.

The group believes in a decentralised approach to running its business and its Risk Management operations. All subsidiaries must act entrepreneurial and are encouraged to innovate, within a given framework.

The Alyne Solution

Prior to using the Alyne solution, HDI had a different platform in place and, although it performed sufficiently among the Risk Management team, it was too complex and not user-friendly enough for different stakeholders across the organisation, outside the area of Risk Management.

With a network as global as HDI’s it was imperative for them to address and effectively solve the following:

• Proper communication across the organisation, where all senior executives actively report risks to their subsidiaries as well as the Risk Management unit.
• Develop fully efficient Risk Reporting and Global Risk Register processes.
• Implement a solution with user-friendly design that enables a positive UX.

By implementing Alyne within HDI, all challenges faced prior were mitigated and resolved far beyond expectations, creating an enormous advantage for HDI’s Risk Unit. Following this success, other GRC functions, like Information Security and Compliance Management, will potentially be implementing Alyne in the next couple of months. At the moment, HDI is running a new project transforming their Vendor Risk Management to Alyne.

“Alyne definitely was a big improvement for us because it is much easier to use and it runs everywhere. People can use it from their mobile devices without any hassle and experience has taught us that if this isn’t possible people won’t use it. Nowadays, if you get an email that reads ‘please update your risks’ and you are not able to open the link from the device you are using at the precise moment you are reading the email, then you won’t do it. You might say ‘I’ll do it later’ but ‘later’ usually becomes ‘never’. It just makes communication so much easier.

Results are very positive from the rest of the organisation, people are very happy and really appreciate the change. They really like the new tool but more importantly, they understand it; this is very positive for our Risk Management capabilities. People from other GRC functions approach us asking if they can start using Alyne as well. ‘Can we join?’ – they ask. This doesn’t happen very often to you as a risk manager.

Of course there are always some issues and room for improvement, you are never at 100%, but we are pretty close. We strongly believe this is the best solution out there and we openly tell our customers so.”

– Jochen Friedemann
Head of Operational Risk
HDI / Talanx

Following the success of implementing Alyne in HDI’s Risk Management unit, an interesting opportunity was noticed by key decision makers inside the company. If organisations, as big as HDI, with dedicated departments for all GRC functions find many daily activities quite bureaucratic and complicated, these pain points have got to be even higher among companies that do not have the capability to have entire departments full of qualified professionals dedicated to GRC. Given the fact that HDI was able to successfully mitigate all of its challenges by implementing Alyne’s solution, then the value and possibilities of implementing said solution in small and medium sized enterprises in the Latin American market are far greater.

To learn more about HDI’s pursuit of building a business ecosystem for small and medium sized enterprises in Latin America and a full look at how HDI / Talanx Group enhanced its Enterprise Risk Management processes worldwide with the help of Alyne download our latest Case Study available in English and Spanish.

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