From a business and technology perspective, this design
creates the “perfect information state” for Prudential mov-
ing forward. For an information-intensive business, this
creates a sustainable competitive advantage.
pegasystems
Prudential selected Pegasystems’ solution because of its
agility and functionality, and because it is less costly than
purpose-built solutions. Prudential was looking to decouple
certain processes and functions to get a single composite
view of the customer. Based on Pega BPM, CustomerONE
triggers the right questions, gathers the right answers, and
integrates them into the case file. Key to the application’s
functionality is the ability to support scripting. Pegasystems’
capabilities within CustomerONE are integrated with multiple
back-end applications.
The use of standard BPM nomenclature coupled with
the “build for change” technology lowers the cost of ongoing maintenance. The integrated suite—including the user
interface, the rules engine and the process engine—can
be easily changed to accommodate new regulations and
evolving business needs. The complete process and rules
are self-documenting to allow regulators and auditors to
see how the work is accomplished.
Team Work
The Prudential team overcame the typical hurdles encountered with implementing new technology by creating a team
comprised of business and technical resources. Also, the
initiative quickly delivered strong functionality with high business benefit.
Prudential Group Insurance at a Glance
Results
The initiative is used by all associates to handle inquiries
and process service requests across products, markets,
and channels. Since January 2011, Prudential’s call volumes have increased by 16 percent with no drop in service.
Simultaneously there has been a 14- percent reduction in
full-time equivalents (FTEs). Employee productivity is extremely high.
Headquarters: Newark, N.J. Year Founded: 1916
Serves: 20 million
employees, families
Years Serving Insurance
Industry: 96
Product Set: Group, life insurance
Number of Employees: 41,000
Total website hits per month:
Private/Public: Prudential
Group Insurance Inc. is a wholly
owned subsidiary of Prudential
Financial, Inc. (NYSE: PRU)
60,000
Industry standards
Prudential uses the Pega Insurance Industry Framework
(IFF) as its base object model. IIF is a fully-licensed version
of the ACORD/IBM Insurance Information Architecture (IAA)
model. This model permits Prudential to quickly assemble
software assets in the creation of effective and sustainable
business flow.
De facto standards employed by Prudential are MS business tools: Word, Excel and Visio, which are deployed to the
business units as part of the Pega BPM tool. Specifications,
rules and business flows are developed by the business
units as inputs to the development process. These tools
also are deployed in the back office to facilitate table editing
for rates and other business-related items that change periodically. Rapid application development and deployment
are achieved by co-locating analysts and coders and seeing
working prototypes quickly.
Serves: Prudential has been underwriting group insurance plans since 1916. Its Group Insurance business is the
nation’s second-largest group life carrier and a leading
disability and long-term care carrier, with 13,000 group life,
5,900 long-term disability, 4,200 short-term disability, and
430 long-term care clients—insuring more than 20 million
employees and their families
ers’
ss;
ale
oduct;
Product Set: Prudential Group Insurance manufactures
and distributes a full range of group life, long-term and
short-term disability, long-term care, dental, and corporate and trust-owned life insurance in the U.S. to institutional clients primarily for use in connection with employee
and membership benefits plans. The business also sells
accidental death and dismemberment, and other ancillary coverages and provides plan administrative services in
connection with its insurance coverages. n
phase ii Finalists
n to be
atches
res op-etrics
itional
ls.
SECOND PLACE
C N A,
nominated by SeaPass Solutions
RUNNERS UP
Lloyd’s TSB Insurance, nominated by Innovation Group
Federated Life Insurance, nominated by CSC
THIRD PLACE
Pacific Compensation Insurance Company,
Erie Family Life/Erie Insurance,
nominated by iPipeline, Dell Services
nominated by Mulesoft, Jarus Technologies
