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Case Study

ING reduces their global operational cost and risk with CIA

The Credit Insurance Application (CIA) automates the workflow for managing credit insurance transactions.

The Challenge

ING, is a global bank, serving over 38 million clients across over 40 countries.

ING’s Credit & Political Risk Insurance (CPRI) team faced inefficiencies due to outdated technology and manual processes.

ING and Genesis worked together to deploy our Credit Insurance Application (CIA) product to automate and streamline CPRI transactions, reducing operational costs and risks.

2020 launch in 3 countries

The first version of the Credit Insurance Application (CIA) was launched in July 2020 in the U.S., Hong Kong, and Singapore.

Customizable platform

Genesis’ CIA combines data and reporting tools for transaction and portfolio management, built on a highly customizable low-code platform.

Built a second application

ING reused some CIA pre-built components, delivering this application much faster using our platform. 

“Thanks to Genesis, we have this new tool and we couldn’t imagine our lives without it.”

– Jean-Maurice Elkouby, Managing Director, ING

The Solution

ING deployed our Credit Insurance Application (CIA) product in the US, Hong Kong and Singapore in July 2020.

CIA is an application that combines data, workflow, and reporting tools for transaction and portfolio management to enhance the productivity of credit insurance teams.

We’ve since built a second application that helps ING’s Fund Finance team manage their data on transactions globally.

ING reused some CIA pre-built components, delivering this application much faster using our platform. 

The Benefits

The Genesis CIA has allowed ING to benefit in the following ways:

Optimize operational efficiency

  • Enhance productivity by minimizing data re-keying and maximizing output.

  • Simplify reporting by reducing reliance on complex Excel spreadsheets and pivot tables.

  • Integrate with core internal systems through easy-to-implement APIs.

Improve risk management and monitoring

  • Improve real-time monitoring and manage associated risks through a consolidated view of the insurance portfolio.

  • Counterparty risk limit management module that tracks exposure and validates policy amounts against insurer headroom.

  • Reduce errors by simplifying reconciliation and establish a unified data source.

Customize accessibility

  • Enable users to access their region-specific data with a complex & configurable permission structure.

  • Access a personalized dashboard to view deals by status and high-level charting.

  • Customizable Reporting module, allowing users to create and generate new reports as required.

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