Source: Earthquake Commission – EQC
EQC’s digital business transformation wins at prestigious Asia/Pacific Digital Awards
“EQC is the embodiment of how an organisation’s clear vision for transformation, combined with outstanding execution of its roadmap, and industry collaboration, can create resilience for the Future Enterprise” says Louise Francis, Country Manager, IDC New Zealand.
The Earthquake Commission (EQC) has been recognised, among over 1,000 nominations across 12 countries in the Asia/Pacifc region for it’s dramatic digital business transformation as the IDC 2021 Best in Future of Industry Ecosystems award recipient.
The International Data Corporation (IDC) Future Enterprise Awards acknowledge disruptive, leading-edge organisations who have successfully achieved digital business transformations across the globe.
The Best in Future of Industry Ecosystems award recognises EQC’s ability to seamlessly engage with ‘ecosystem’ partners, such as EQC’s insurance partners, by using technology platforms, a crucial API exchange and collaboration tools.
It also recognises EQC’s ability to take advantage of the ‘ecosystem’ it has created by constructing capacity within its systems to be able to manage 100,000 claims a year in the event of a significant natural disaster.
“Starting before the pandemic, EQC were resolute in the importance of continuing their transformation journey. As a result, EQC has established itself as an example of how a customer-focused, datacentric organisation can shine in an incredible dynamic environment” says Louise Francis, Country Manager, IDC New Zealand.
“EQC is the embodiment of how an organisation’s clear vision for transformation, combined with outstanding execution of its roadmap, and industry collaboration, can create resilience for the Future Enterprise.”
Following the Canterbury Earthquake sequence, EQC was overwhelmed with homeowners making claims, in need of having their homes repaired and their claims settled. At the time, EQC and private insurers were working in isolation which meant homeowners had to make an insurance claim to both EQC and their private insurer sperately. This created inconsistencies in assessments, process and the customer experience.
The weaknesses of operating in isolation from the private insurance industry has been obvious and often called out by internal reviews and the Government’s 2020 Public inquiry into EQC.
The business transformation, driven by the need to provide a straightforward, single point of contact for New Zealanders in the wake of a natural disaster, has transformed the way EQC operates. It has spurred the creation of a new innovative, digital ecosystem that leverages software platforms to deliver at scale and speed for customers and partners when they need it the most.
To enable this type of delivery, EQC has moved to working in the background on claims, focusing on assurance and support, with its private insurer partners taking lead on customer contact and managing EQCover claims on it’s behalf. This is done by providing its insurer partners with the ability to safely and securely share and store data and then use that data to manage EQCover claims.
“This is a world first to bring the private and public sector together in such a way, working cohesively for the greater good of New Zealanders. We’re proud of this achievement and in turn, to receive this prestigious IDC Asia/Pacific award”, says Sid Miller, Chief Executive EQC.
Mr Miller said a critical element of the new system was that it allowed EQC’s partner insurers to provide a comprehensive, consistent and a faster customer experience to New Zealanders during a time when they need it the most.
“By maintaining the new, more efficient claims processing model, EQC can continue to focus our efforts on building a more resilient New Zealand through our research and sector collaboration.
“What’s more, our new data sharing and our loss modelling capability enables us to model and plan for different natural disaster scenarios. This means the EQC and the sector can respond more effectively to natural disasters when they happen,” says Miller.
For more information about the award, please visit www.idcdxawards.com.
For media inquiries, please contact Coen Lammers media@eqc.govt.nz.
