CLIENT OVERVIEW
The Fortune 500 insurer offers auto, home, business, and life insurance through a network of independent insurance agents. The insurer has more than 6 million policies in force and operates in 12 states. It is among the 20 largest P&C insurers in the U.S.
BUSINESS CHALLENGE
Aiming to deepen relationships with customers, the Fortune 500 insurer recognized a lack of communication channels for customers to engage with agents. To adapt to changing expectations and support long-term growth, the Fortune 500 insurer wanted a digital-first CCM platform that would support omnichannel communications and suppress paper transactions.
The insurer’s end-to-end print process used more than 100 legacy components to deliver transactional documents using OpenText Exstream 16.4. It had been printing more than 250,000 invoices and other transactional documents daily.
The Fortune 500 insurer wanted to transition to an e-delivery invoice system, enabled through online accounts for customers. Modernization would allow it to provide digital access for customers and agents, improve its claims payment notifications and e-delivery systems, and standardize content authoring for letter generation.
SOLUTION OFFERED
ValueMomentum helped the Fortune 500 insurer build an enterprisewide architecture to support the CCM platform by developing the CCM components required for migration, then strategized to implement the solution across applications. ValueMomentum and the Fortune 500 insurer then migrated more than 140 forms across personal, commercial, claims, and billing portfolios.
In addition, ValueMomentum upgraded the insurer’s OpenText system to v 16.6. On the Exstream system, the team established a more elaborate notification system for claims payment, implemented business rules and orchestration for e-delivery, and created content authoring capabilities for letter generation.
While working toward fully digital communications, paper suppressions were first implemented for invoice applications, then declarations, ID cards, and other transactional documents. They implemented an email system to service existing applications and other communications while deploying the full CCM platform delivery infrastructure.
[The CCM platform] will help to reduce batch processing errors and manual deployments steps, as well as decrease reliance on IT for custom-code changes.
VALUE DELIVERED
Operating on a contemporary CCM platform allows the Fortune 500 insurer to align with business and customer demands for digital-first communications through email, text, and voice notifications. It will be able to position itself as competitive with other customer-centric insurers and demonstrate how it is evolving to meet customer preferences.
The Fortune 500 insurer will be able to simplify its complicated legacy-dependent communications systems by transitioning to a CCM platform that streamlines operations while enabling future growth and scale. This will help to reduce batch processing errors and manual deployments steps, as well as decrease reliance on IT for custom-code changes.
By establishing a system of e-delivery of invoices through online accounts, the Fortune 500 insurer can leverage real-time availability of documents and increase point-of-services interactions to increase customer satisfaction during the claims process. The system also reduces manual labor, such as time spent searching for and providing documents for customers.
