CLIENT OVERVIEW
A leading provider of Cyber Liability and other innovative specialty solutions, Tokio Marine HCC – Cyber & Professional Lines Group (CPLG) provides insurance and turnkey reinsurance solutions. CPLG is headquartered in Los Angeles, California and issues thousands of policies nationwide annually.
NAS Insurance Services, LLC, was acquired in 2019 by Tokio Marine HCC a rebranded as Tokio Marine HCC – Cyber & Professional Lines Group, a member of the Tokio Marine HCC group of companies based in Houston, Texas.
BUSINESS CHALLENGE
To meet the demand and the fast-paced technological advances among their insurtech competitors, CPLG strategically decided to expand its digital presence.
It began working with ValueMomentum in 2017. At the time, the company was eager to expand distribution, drive innovation, and increase efficiency with its end-to-end policy issuance transformation.
“After having taken time and resources to integrate NAS Insurance with Tokio Marine HCC, we were behind the eight ball to deliver digital solutions to market very quickly,” explains Jamie Kinsley, Deputy COO, CPLG. “ValueMomentum was there for us to provide the talent and expertise we needed to deliver.”
SOLUTION OFFERED
Having established the architectural foundation for the Underwriting Platform, CPLG needed a strategic IT partner to help quickly develop and implement the full solution.
ValueMomentum assisted with:
• Adding on world-class digital distribution channels,
• Leveraging the rating,
• Underwriter rules,
• Sophisticated predictive analytics already built into the Underwriting Platform.
CPLG’s Broker Portal and Partner API channels were then combined with the Underwriting Portal to create a sleek, modern platform that uses the latest in technology and security. Brokers now instantly generate quotes and bind them 24/7 on the digital channel of their choice, offering them multiple ways to do business with their clients.
When the relationship began, the desired characteristics ranged from expertise in Agile methodology, building positive, cohesive teams, and a familiarity with the LAMP (Linux, Apache, MySQL, and PHP) stack to using modern application frameworks such as React, Symfony, and Laravel.
Today, Amazon Web Services (AWS) integrations, several complex API integrations, and modern quality assurance (QA) automation and code deployment tools were required to bring the platform into the next generation. “ValueMomentum’s deep, industry-specific experience continues to offer us value,” Kinsley says. “This includes supplying team members who model the engaged, collaborative IT culture we desire, as well as a comprehensive and mature digital and cloud services solution.”
“We wouldn’t be where we are today without ValueMomentum. They have exceeded our highest expectations.”
VALUE DELIVERED
With ValueMomentum as the leading services partner for development and quality assurance, the expanded platform became a reality.
Both the CPLG™ Broker Portal and Partner API aggregator sites rely on the Underwriting Platform as the back end for data, rating, and underwriting rules and servicing kick-out submissions as needed.
With the ability to quickly configure rating updates, CPLG is highly responsive in a competitive market and is incorporating new services and technologies, giving brokers better self-service features while reducing staff workloads, expediting and reducing processing costs, and increasing pricing accuracy.
“To say we’re mutually aligned in our goals only begins to tell the story,” Kinsley says. “Beyond the amazing talent, skills, and expertise each ValueMomentum individual brings to our team, everyone is a good listener, very responsive, and genuinely concerned about us. In short, we wouldn’t be where we are today without ValueMomentum. They have exceeded our highest expectations.”
