Core Platform Transformation for New Product Rollouts and Global Expansion for a Specialty Insurer

Business Challenge

Intense competition, evolving customer behavior, regulatory shifts and outdated technology infrastructure obstructed growth and its abilities to regulate operational cost for a leading specialty insurer. Siloed system and interfaces resulted in long lead times often years for products roll outs and expansion to new states.

Coforge Solution

We partnered with the client from the envisioning phase to identify the best platform to digitize their siloed business & IT systems as a part of transformation. We deployed a SWAT team that has experience on both legacy policy administration system and modern commercial off the shelf packages, including Duck Creek. We leveraged our proprietary implementation methodologies, accelerators, and automation tool kits along with product configurability features for this transformation to enable roll out products and expand into new markets quickly.

Results

• The quote processing time decreased from 3 days to under 15 minutes.
• Rolled out major lines of business for all 50 states within 18 months, setting a record for a swift and a smooth Duck Creek implementation.
• Significant improvement in the Direct Written Premiums (DWP) within just 9 months.
• Reduction in total cost of ownership (TCO) by 10% in the first year.

Key Highlights

Establishment of uniform and scalable platforms for new market expansion and product rollouts.