CLIENT OVERVIEW

A global specialist insurer with a branch in the U.S. that underwrites a diverse range of personal and commercial insurance risks. They focus on underserved needs and specialty commercial clients via both the regional broker and direct distribution channels, serving over 500,000 customers.

BUSINESS CHALLENGE

The insurer has experienced extremely rapid growth over the past 11 years. To further take advantage of opportunities in the US market, the company has set an ambitious goal to realize $1B in GWP and $100M in profit. To accomplish this goal, it’s critical that the insurer positions itself to capture market share by increasing its regulatory and operational robustness, driving efficiencies, and enabling high quality broker and customer experiences. The company’s legacy IT systems and dependent processes pose a major challenge to this goal.

As part of its communications systems, the insurer relies on a number of CCM systems for document generation. They use Magic and Oneshield as their policy administrative systems, to feed data to Thunderhead and SmartCOMM platforms, which then create forms and documents for customer communication. These documents are generated by Thunderhead and include Renewal Letter, Coverage Summary, Package (contains Declarations, Endorsements, Notices, Policy Wording & Statement of Fact), and Acord & Billing deals with different risks.

However, unstructured data inputted into the system resulted in batch failures across these information sets. Because the final document must intake all data, failure in a single transaction would lead to issues in the entire batch. Thus, the application and maintenance (AMS) team needed to exert a significant amount of manual effort to manage errors, investigate and reprocess business users’ incident reports. The manual process was also error prone and time consuming. The insurer needed an easy-to-maintain solution that would address data transfer and batch failure while reducing complications to optimize the document generation process as well as improve the experience for its customers.

SOLUTION OFFERED

ValueMomentum has supported the insurer in their management of its CCM systems and understands the technical and business environment of the company. For this reason, the insurer decided to partner with VM for the enhancement and development of their CCM platforms to support the growth of their business.

A major initiative from the insurer aimed to replace aging systems and leverage the opportunity to simplify, accelerate and unlock new ways to further the company’s competitive advantage. As part of this initiative, the insurer optimized the generation of 13M+ documents from Thunderhead and Smart Communications to improve customer communications for various insurance products, such as General Liability, Professional Liability, Business Owners Policy & Cyber LOBs across all states for Direct, Partner Lines (DPD), and Broker Channels. ValueMomentum helped migrate documents from hybrid cloud into Pure Cloud AWS Platform to improve services and efficiency and shift spending away from servers and other onpremises legacy systems and technology.

The insurer worked with VM to identify any critical issues associated with batch failures, external images, and data and find solutions for the root cause of the issues. To ensure that documents were compliant and up to date, VM updated addresses for 260+ documents, updated logos on communication forms for partners, and executed change request and minor enhancements. VM also developed forms for new lines of business and new state roll outs and managed the integration of SmartComm with OneShield and Webmethods platforms to streamline end-to-end business processes associated with policy, billing and claims. With the resources and skills from VM’s CCM team, the insurer was able to improve document generation and enhance customer experience to support its business priorities.

The migration of forms to the Pure Cloud AWS platform enabled scale and elasticity—allowing the insurer to dynamically scale to peak volume needs—and provided real-time access to the latest and most secure features without the lengthy upgrade cycles.

VALUE DELIVERED

Leveraging VM for the management and development of its CCM platforms, the insurer was able to eliminate issues associated with batch failures and data inputted into the system. As a result, the insurer significantly reduced manual effort spent on addressing every PROD batch failure and production incident.

The project also created a centralized solution for the redundant issue with reusable component which helps to accommodate changes to endorsement documents for print. This approach further reduced post-processing time and the manual labor of printing and mailing the documents. Moreover, the streamlined documentation process and consistency across forms helped the insurer to focus on critical business areas that will contribute to its business growth.

The migration of forms to the Pure Cloud AWS platform enabled scale and elasticity—allowing the insurer to dynamically scale to peak volume needs—and provided real-time access to the latest and most secure features without the lengthy upgrade cycles. With the technical and domain expertise of the VM team managing the CCM platforms and document generation, the insurer is able to focus on rolling out products and capture market opportunities.