configure to the needs of each to deliver measurable, sustainable results in revenue generation, customer retention and loyalty, speed-to-market, and profitability.
Insurer Policy is a scalable, proven, business
solution built on a modern technology platform with
industrial strength configuration and multiple delivery
models which provide the market a robust and innovative alternative to traditional systems. It is built and
priced for all insurers, big and small alike. Insurer
Policy is the solution which can help insurers compete
successfully in the new normal.
Insurer Policy … Enabling Business Agility,
Transformation and Continuous Innovation
highlighting the impact of Insurer Policy on insurer
agility, operations and competitiveness, are two case
studies. These companies did not just replace legacy
systems, rather they implemented a solution that is
the cornerstone for business transformation, organizational agility, competitive differentiation and continuous innovation.
Case Study #1
Recognized by the Ward Group as one of the top 50 P&C
companies in the United States (US) and winner of the
2010 Celent Model Insurer award, a Tier 1, U.S. based specialty P&C insurance leader, implemented Insurer Policy to
support business transformation initiatives. The company’s business strategy recognized the requirement for modern and innovative technology and business solutions to
enable business processes to be highly automated and relatively untouched by human hands. Most impressive was
the enablement of specialty products and a service strategy
that contributed to customer retention and organic premium growth of 50 percent in the past five years.
Additional business value the company realized includes:
J Improved underwriting capabilities and substantially
lower annual costs;
J hundreds of thousands of budget dollars saved annually by the insurer and its distribution partners due to
improved productivity from new Internet self-service
J Improved billing collections that enhances cash flow;
JEnhanced product innovation capabilities that improves profitability; and
J Enhanced customer and revenue retention from improved customer communications, flexible billing payment plans and high quality notices.
J Web-enabled insurance transactions used by the company’s customers and distribution partners. Self-service
direct access for a range of policy administration functions provided an easy to use “one-stop shop” portal.
J Insurer Policy enabled extensive product innovation and
Case Study #2
pricing segmentation to design and offer products based
on market conditions at the right time and the right rate
for every risk. By creating alternative products based on
unique distribution channel needs, it allowed the com-
pany to enhance their relationships with their partners
and support sales goals.
Another example of how Insurer Policy is transforming
the business of Innovation Group’s customers features
a leading insurance market leader’s strategy to launch a
new auto insurer operation as a virtual insurance solution
that is 100 percent Internet-based in
a matter of months. The new operation was designed to be uniquely positioned to serve the portable insurer,
Generation y and the Net Generation,
by providing insurance differently
as demonstrated by the significant
month over month new customer growth since implementation.
The new operation provided a competitive offering
to a new customer segment. The business results are impressive, and include a double digit conversion rate from
quote to new business, and growth in the insurer’s motor
insurance portfolio. Further, and perhaps most importantly, the company’s customer service key performance indicators (KPIs) were met or exceeded. Today, the insurer uses
the Internet to capture, prepare and process all aspects of
insurance from quote, issuance and renewals by the customer. The customer conveniently and personally transacts All insurance needs electronically, much like they do
for their banking, investments, bill paying or shopping.
The benefits and value for this virtual insurer in
implementing Insurer Policy are significant, and include
dramatically decreased traditional operational costs re-
sulting in a low overall cost base that allows competitive
and reduced premium rates, along with im-
proved market competitiveness and increased
market reach to new customer segments. In
addition, the insurer lowered marketing and
distribution costs, and increased profits, capital
and resources for future strategic growth.
This insurer’s strategy, enabled by implementation of Insurer Policy in a business process
outsourcing (BPO), Software-as-a-Service (SaaS)
model, leveraged a commitment to superior customer service and innovation to create a relevant,
modern and alternative insurance operation that
embraces the changing business environment,
new customer expectations and demands, while
delivering clear cost efficiencies, top-tier customer service and market competitiveness. The
customer conveniently and personally transacts
All insurance needs electronically, like they do
with banking, investments, bill paying or shopping. This insurer created competitive advantage by implementing something uniquely different to that of competitors’ systems, rather
than just doing things differently.
This insurer’s use of Insurer Policy demonstrates
how traditional companies can quickly and agilely transform their business with alternative business model and
delivery options to underpin growth and new market opportunities.
A New Partner for a New Normal
Innovation Group has been a trusted
partner, providing quality solutions for
the insurance industry for more than 20
years. By embracing change, and invest-
ing in the “next generation” solutions of the Innovation
Insurer suite, including Insurer Policy, Innovation Group
effectively meets the business demands of today and the
opportunities for tomorrow.
If you want to power growth and agility, enhance
your operations, enable responsiveness to future market
changes and get predictable, exceptional outcomes …
Insurer Policy is your answer. Insurer Policy is a powerful tool in the drive for more effective policy management, profitable business and loyal customers, today
and in the future.
Denise Garth is senior vice president for Innovation Group.
She can be reached for further comment via email at
76 Batterson Park Road
Farmington, CT 06032
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