Customer stories

HDI Seguros leverages technology and recovers 2.4 million BRL in payment transactions

Discover how a leading insurance company increased payment efficiency and increased authorisation rates.

21 May, 2024
 ·  5 minutes

As insurance companies move towards digitalisation, they face challenges similar to those other businesses face. These include enhancing customer experiences, effective data usage, and adapting to new technologies.

This was the case of Brazilian HDI Seguros, part of the German group Talanx, Germany's third-largest insurance conglomerate. They recognised the importance of digitalisation and understood that to stay competitive, they needed to begin their digital transformation journey and work with a payment partner that could solve these challenges.

That's when Adyen stepped in. HDI Seguros' business goals drove the partnership between the two companies: embrace the digital era by enhancing payment efficiency and adopting data management solutions that provide valuable insights for decision-making.

The outcome? They've seen a R$ 2.4 million increase in payment transactions. We spoke to Renato Tavares Pinheiro, Financial Director of HDI, to get his perspective on how they achieved this.

Increase payment efficiency for higher authorisation rates

In the insurance industry, recurring monthly payments are standard practise. Having a payment provider with modern technology is crucial to handle these transactions and prevent loss for the company.

That’s why HDI Seguros implemented Adyen’s RevenueProtect tool. This tool uses machine learning to enhance payment efficiency, continuously testing and optimising each transaction in real time based on evolving preferences of issuing banks.

As part of the RevenueProtect tool, they leveraged network tokenisation, which enhances security and approval rates by replacing payment data with tokens. This includes automatic updating of consumer card information, intelligent messaging to align payment details with bank preferences, and automatic processing retries. Using these tools together resulted in an approximate yearly revenue increase of R$2.4 million for HDI Seguros.

Thanks to Adyen's network tokenisation feature, HDI Seguros boosted its authorisation rate by three percentage points, from 88% to 91%. By automatically updating consumer card data, they saw a 0.66% rise in approvals, translating to an estimated revenue increase of about R$1.2 million annually. Automatic processing retries further contributed to an average revenue growth of 0.20%.

Improving the customer experience and better insights

Payment technology has been a key element in improving the client experience of HDI Seguros, setting new standards for the market. 

HDI Seguros also started using the payment data provided by Adyen to extract insights for decision making. 

Maria Isabel Noronha, VP for Account Management at Adyen Latin America, says that the segment as a whole can be inspired by HDI Seguros' good payment management practises. "In this successful partnership with HDI, we have the materialisation of all the potential that payment technology is capable of delivering to companies in terms of revenue increase, customer experience innovation and data intelligence. Companies that want to continue to prosper need to rethink the role of payments in their strategies.'' says Noronha.

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