Danish financial services group Alm. Brand embarks on a cloud transformation with support from Capgemini Denmark.

By adopting cloud throughout their IT landscape for all its systems, Alm. Brand will be able to accelerate the development of new digital solutions for customers. Furthermore, leveraging cloud opens up the possibility to create new partnerships through swift integration into Alm. Brand’s digital universe. For the end customer, this collaboration results in a seamless service experience across a range of products and services thanks to the integration of simple, digital solutions.

This ability to use cloud to support collaboration with new business partners and technology partners, such as InsurTechs and FinTechs, was also noted in Capgemini’s World Insurance Report 2020.

Kristian Hjort-Madsen, Executive Vice President of Business Development and Digitization at Alm. Brand, comments: “The cloud is much more flexible. Therefore, our new setup will help us to significantly reduce our time-to-market in the future with new, digital solutions – not least through the partnerships we enter into for our insurance business. Simultaneously, we gain a mature innovation muscle because the cloud gives us access to a wealth of new technologies that will benefit customers.”

A trend towards all-cloud landscapes

As a global IT consulting company, Capgemini, has been tasked with setting up the radical digital transformation at Alm. Brand and notes a strong trend among other insurance companies and banks to become cloud-first organizations. Further, migrating to the cloud makes it possible to establish a digital infrastructure that flexibly supports the development of tailored solutions, for example for specific customer groups.

Claus Rydkjær, Managing Director, Capgemini Denmark, says: “Alm. Brand is one of the first in Denmark to take a decisive step that addresses the very real challenge the insurance industry will face in the coming years, that of InsurTechs and tech giants entering the classic insurance market. Like Alm. Brand is now doing, it is essential that the traditional players in this industry actively create a digital foundation that supports a far more agile business. This is a trend we are also seeing from other first movers within the financial sector in Europe and the rest of the Nordic region.”

Growth on the bottom line at Alm. Brand

Alm. Brand’s cloud solution gives the group access to a wide range of new technologies and tools. For Kristian Hjort-Madsen, this echoes the way in which houses are built today using modules instead of building one brick at a time. By adopting similar thinking in a cloud environment, he says that it becomes quicker and simpler to design new, tailored solutions for the many different customer needs.

He continues: “As consumers, we expect good and uncomplicated customer experiences across services that meet the exact needs arising during our lives. Therefore, there is a straight line between future growth in the business and our ability to create unique customer experiences. Here, the new cloud infrastructure is a crucial prerequisite.”

The entire phased migration project at Alm. Brand is expected to be fully completed within the next 2-3 years.