Process automation unleashes efficiencies for national insurer

Client

National Insurance Company

Industry

  • Insurance & Financial Services

Technology

  • Pega Platform

Services

  • Business Process Automation
  • Data Integration

About the Client

A leading liability and casualty insurance company servicing the energy sector.

Challenge

  • Operational and underwriting processes were manual
  • Rating was done using spreadsheets
  • No automation or workflow
  • Manual invoicing for loss control services
  • Siloed data, inaccessible to partners

The client’s challenges centered around automation, with most of its processes built around manual procedures and unnecessary touch points that bottlenecked deliverables. Operational, underwriting and loss control services were spreadsheet driven and data was scattered across different systems. This siloed data hampered underwriting and delayed quoting for new business operations.

Aside from its standard insurance offerings, the company also offers loss control services to clients to help them mitigate risks. The program consists of engineers inspecting client locations and electrical infrastructure equipment and making recommendations around safety and operational effectiveness. Behind the scenes, this program was managed with spreadsheets and manual invoicing procedures. Partner companies couldn’t track service calls, schedule follow-ups or access reports.

Strategy & Solution

  • Delivered a complete policy administration system, across five lines of business
  • Surpassed insurer’s objectives with solutions that boosted efficiency and streamlined processes
  • Leveraged Pega decisioning capabilities to automate forms
  • Integrated Pega, ERP system and IAA platform

Ciberspring implemented a solution using the versatile Pega Platform to create a complete commercial insurance administration system across the clients’ five lines of business. The system featured the ability to quote premiums for potential clients, underwrite business, issue policies, service clients, and bill customers, all on an automated basis. We also automated the claims processing system.

We changed the data warehouse to accept more granular data than the insurer had before, which resulted in better forecasting and automated loss ratio processing. The digital transformation was completed with integrations to their instance of ERP program Workday as well as their Insurance Application Architecture. With these platforms integrated into Pega, data could flow freely and securely to authorized users, delivering a level of data access the client had never before had. With the integrations, we were able to automate all state required reporting as well.

Results

  • Faster turn-around time to write new policies
  • Streamlined claims process
  • Automated information gathering and contract processes for new business
  • Delivered far more granular data for analysis and reporting

Implementing the company wide Pega system for the client resulted in dramatic process improvements and efficiencies. Manual, spreadsheet driven processes gave way to automated procedures. Staff could quote and write new policies faster than ever before. The system automations we developed decreased workforce requirements so staff could focus on other areas of the business. Enhanced data collection resulted in better internal reporting and forecasting, which improved business profits.

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