Ensuring competitiveness for small and medium-sized enterprises
E-Cautio, a Luxembourg-based InsurTech company, Platform-as-a-Service (PaaS) provider, today announces its new partnership with SCHUMANN, an industry-leading technology provider in the fields of credit and surety, for the use of SCHUMANN’s CAM Surety Software.
With CAM Surety, a SaaS solution, E-Cautio enables small and medium companies to remain competitive through the digitization of the full process of guarantees and surety bonds, as well as offering surety as a service solution.
Accelerating the digital transformation
By automating the full process of guarantees and surety bonds such as performance guarantee or completion guarantee, small and medium companies in Luxembourg and the rest of Europe accelerate their digital transformation and significantly improve the quality and efficiency of their operations, all while reducing the risk of human errors. In addition, the process includes client onboarding, KYC, risk analysis, customer and claims management.
The strategic partnership, that combines SCHUMANN’s CAM Surety software with E-Cautio’s market expertise, demonstrates a shared commitment to provide small and medium companies – from MGAs (Managing General Agent) to insurance brokers, insurance companies and banks – with efficient state-of-the-art technology tools and help them innovate and grow in a sector requesting greater operational agility and efficiency.
Automation of guarantees and surety bonds processes
Philippe Kauffman, CEO of E-Cautio, says: “We are excited to partner with SCHUMANN as we are collaborating at the intersection of technology and business know-how. Innovation through new technologies is a key driver of change in the insurance sector. As a technology and insurance leader, we constantly invest in new technology. In order to become an industry leader, insurance companies, insurance brokers, MGAs or even banks should embrace automation to switch their core operations to auto-pilot.”
Martina Städtler-Schumann, Managing Director of SCHUMANN, says: “Our software solutions and risk models are setting the future technological standards for the industry. CAM Surety enables our customers to automate risk assessment and underwriting processes, while our artificial intelligence handles complex workflows with ease, enabling customers to remain compliant with their regulatory environment. We are pleased that through the cooperation with E-Cautio, small and medium companies can also benefit from our solution and digitise the entire process of sureties and guarantees.”
SCHUMANN and E-Cautio’s technically sophisticated solution has won a reputation as a reliable and efficient service and is used by EuroCaution Benelux, Luxembourg leader in bonding and financial guarantees.
Alessandro Rizzo, CEO of EuroCaution Benelux, says: “We are delighted to be the first customer of E-Cautio using the CAM Surety Software, as we know those fundamental services will deliver real benefits for our company and our customers. Automating the guarantees and surety bonds processes is the only way to remain competitive in this growing but challenging business. The partnership between E-Cautio and SCHUMANN will enable EuroCaution to profit from a tailored solution.”
Press release: SCHUMANN and E-Cautio