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CASE STUDY: Helping a Property and Casualty Insurance Carrier Select and Implement a New Policy/Claims Administration System

CUSTOMER CHALLENGE:

A rapidly-growing regional commercial lines property and casualty (P&C) insurance carrier was utilizing an older policy and claims system incapable of handling new lines of business or allowing agents to quote new business via the internet. For this reason, the carrier launched an initiative to assess, select and implement a more robust, flexible insurance administration system capable of expanding into new business lines and serving a significantly increased customer base.

DELIVERY:

Based on deep-rooted experience in understanding the complexities of the insurance industry, ATSC was engaged by the carrier to oversee the selection and implementation of the new policy and claims administration system. Aspects of the engagement included:

  • Vendor Analysis and Selection - managed a thorough evaluation of many of the top policy and claims software vendors in the P&C insurance arena, including oversight of requirements analysis, RFP development, proposal evaluation, demo coordination and scoring, finalist selection and ultimately contract and price negotiation.

  • Project Management – served as a liaison between the chosen software vendor and the carrier to ensure the vendor stayed on track to meet the requirements. Responsibilities included: project management, requirements definition, project budgeting, status reporting, scope change management, report development oversight, quality assurance testing, and third party vendor liaison.

  • Legacy Data Conversion – oversaw the conversion of historical data from the legacy system to the new policy/claims application. ATSC worked with client personnel to create data export files that could be transformed and loaded into the new policy/claims system; performed detailed mapping of data fields from the legacy system to the new system; and utilized ETL (extract, transform and load) tools to create applications that automated the conversion process.

RESULTS:

  • Reduced client’s estimated level of effort in vendor selection process from 1,000 man hours to 250.
  • Enabled a one-state P&C insurance carrier to expand service into four additional states.

CONTACT US: casestudies@atsc.com