Fintech Nucoro has completed its first wealth management project in the insurance sector. It helped Swiss insurance broker Swiss Risk & Care (SRC) to develop a wealth management product that went live in Q3 2019.
Launching under a new brand, Opsion, SRC was able to add an additional revenue stream and new clients. It can now operate as a disruptive challenger in the retail asset management sector.
Nucoro worked with SRC to launch two business units, Opsion 3a and Opsion Vested Benefits, a digital wealth management solution with full back-end automation.
The solution includes Robotic Process Automation (RPA) applied to data-related tasks. In addition, onboarding time has been reduced to close to ten minutes.
Furthermore, Opsion’s brokers can working in an open architecture containing mutual funds, ETFs and index funds. The entire user journey is automated from onboarding through to billing and clients have a tailored user experience.
Lennart Asshoff, CEO, Nucoro, said: “We were very happy to assist Opsion with their project to find new digital capabilities in a highly competitive market. We worked together with their team to define the exact solution they needed, within a workable timeframe. Today, Opsion benefits from an advanced digital wealth management arm, that can engage new clients and revitalise relationships with existing ones too.”
Pascal Payot, managing director, Opsion 3a and Opsion Vested Benefits, added: “We had been looking for a solution provider who could fit our digital ambition. The solution needed to be flexible, highly user-friendly for both clients and brokers and be able to manage the associated administrative burden effectively. Naturally, minimising the need for increased headcount was also a big part of our criteria. Nucoro were able to deliver the digital platform we were looking for.”
SRC is a subsidiary of SIACI Saint-Honore, an insurance broker in Europe with more than 3,000 employees and 2.5 million customers.