About the Client

US-based insurance company, specializing in tailor-made catastrophe
insurance for personal and commercial properties, wanted to improve
sales enablement and customer experience by automating business
processes.

Challenge

• Manual processes and data entry
• Siloed operations that blocked data sharing
• Poor visibility into data No automated workflows
• Lack of data to fuel upselling and cross-selling opportunities

A commercial insurance provider wanted to increase its operational
efficiencies but was held back by Excel spreadsheet-driven processes
and a lack of automation. As different departments worked on
separate spreadsheets, these manual and siloed efforts put the
company at a competitive disadvantage, costing them significant time
and resulting in poor data hygiene. Important customer information
was frequently lost, and the lack of visibility due to disorganized and
scattered data meant that brokers were unable to quickly provide
quotes for new applications.

Similarly, executives and account managers could not perform the
statistical modeling necessary to uncover optimal opportunities for
upselling and cross-selling, potentially leaving money on the table. Beyond this, the organization was looking to implement automated
workflows that would propel the business forward. These included
improving the order request process to allow customers to submit
requests via various sources (e.g., online portal, chat, email). These
submissions needed to be automatically processed and tracked
through to resolution.

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

• Successful IPO Automated processes and decision-making
• Single source of truth Improved customer service
• Maximized customer lifetime value

Ciberspring’s Pega Platform solution was able to provide the company
with significant value by eliminating manual efforts and leveraging
automated processes to increase efficiency.

Using AI, electronic records are now easily created from paper forms
without requiring time-consuming data entry. And real-time decisioning
delivers accurate quoting, improving internal forecasting and
automating loss ratio processing through deeper analysis of granular
data.

Increased visibility into company data and reporting allows
representatives to assess demand frequencies and turnaround times
for order resolution and delivery. AI-powered automation also
enhances sales and customer service by providing the best upsell and
cross-sell opportunities to maximize customer lifetime value.

Transitioning to the Pega Platform enabled the company to grow
exponentially—servicing more customers than ever before without
increasing head count—and ultimately launch a successful initial public
offering (IPO). “They expanded into bigger markets and could take on
more brokers without growing staff,” says Shea.

Ciberspring’s digital transformation solution fueled the organization’s
rapid expansion with increased sales enablement and improved
customer experience to maximize stakeholder profits.