Table of Contents

The Client


Property-casualty insurance and surety carrier providing consultancy services, privately owned with $3.1B in assets

Challenge

  • Low “Submission to Conversion” ratio for Quotes -Agents & Brokers had to use multiple systems to process applications
  • Speed to market for new products; expansion into newer U.S. States took years
  • U/W capabilities were key to success but due to siloed systems Underwriting/ Workflow/ Referrals process became cumbersome
  • TCO was high due to disparate in-house legacy systems on IBM infrastructure

Solution

  • Jointly Identified platform of choice to digitize the siloed business & IT systems as part of the core platform modernization
  • Use of implementation templates, accelerators and automation tool kits from experience with execution of large scale legacy modernization programs
  • Brought in a SWAT team along with unique expertise on both Legacy PAS systems and modern COTS product including Duck Creek
  • Normalized product offerings across business units with product configurability feature which allowed quick roll out of products and expansion into newer markets.

Value Delivered

  • Reduction in quote processing time frame from 3 days to under 15 mins
  • Major product lines rolled out to 50 states in <18 months
  • $64Mn in DWP in <9 months from nationwide roll outs
  • TCO savings of $1.1Mn in first year by retiring major legacy systems