Successful Software Implementation: Gothaer Becomes Germany's First Paperless Provider of Surety Bonds

In order to successfully integrate new software into company processes a lot of planning, concept work and consultation is necessary. Fabian Albrecht, Product Manager for Surety at Gothaer Versicherung, explains how such projects with SCHUMANN are organized and how important a strong partnership between the software provider and the customer is.

For Gothaer Versicherung it was important to find a provider with whom they could enter the market quickly. The primary aim was to secure comprehensive functionality that would make the Gothaer Versicherung a high-performance provider of surety bonds in all aspects. The insurance company also placed great importance on the possibility to adapt the software easily and flexibly - an aspect that quickly led them to the risk management software provider SCHUMANN.

The initial contact took place in the second quarter of 2022 and a little more than a year later the extensive product had already been introduced at the company. In the run-up, all the important points were discussed: from enabling integration into Gothaer's existing system landscape to the question of how the specialist and strategic requirements could be combined with each other. The target of entering the market as quickly as possible as a paperless provider of surety bonds was thereby the major focus of the joint project at all times.

After the end of the corona restrictions, the already close relationship could be moved from the virtual to the real world. This simplified the exchange of ideas and information among the participants and successfully brought people and interests together. The partnership between the two project teams became even more intensive and closer, and this close cooperation was decisive for the success of the project.

"We want to be integrated with everything that is important but at the same time remain as slimline as possible" quickly became the motto for the project. Making the right decisions and setting the necessary course, adapting and optimizing processes: these were the challenges that had to be mastered. And after several months of intensive cooperation, in the summer of 2023 Gothaer was able to enter the market as the first German paperless provider of surety bonds.

The customers and partners of the Gothaer insurance company benefit considerably from the accelerated processing of their requirements. Thanks to the new processes and the optimized system, surety bonds can generally be issued the same day. This efficiency not only results in greater customer satisfaction but also strengthens the competitive position of Gothaer in the market. Fast decision-making processes and the prompt issuing of the bonds have lifted Gothaer's service to a new level and offer the customers immediate benefits.

The implementation of the surety software has provided many advantages for Gothaer. Service and speed are thereby at the forefront. Since its introduction, answer and reaction speeds for the evaluation and issuance of surety bond facilities and bonds have increased considerably. Normally, applications can be checked within one working day so that the applicant receives a decision in a very short time and need not expect delays.

But the joint project did not end on the day the software was successfully introduced. Also after the implementation, SCHUMANN continues to maintain a close relationship with Gothaer in order to work on new ideas and developments in the future and to integrate them into the software. Processes are updated continuously when necessary and adapted to the dynamically changing market conditions and requirements in order to guarantee high speed and service quality.