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Model Insurer 2012 Exchanging Ideas on Effective Use of Technology

Model Insurer 2012 Exchanging Ideas on Effective Use of Technology. January 26, 2012. Twitter: #celentiandi BOSTON, MA. Model Insurer Concept. January 26, 2012. Karen Monks Analyst, Celent Insurance Group BOSTON, MA. What Is a Model Insurer?.

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Model Insurer 2012 Exchanging Ideas on Effective Use of Technology

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  1. Model Insurer 2012Exchanging Ideas on Effective Use of Technology January 26, 2012 Twitter: #celentiandi BOSTON, MA

  2. Model Insurer Concept January 26, 2012 Karen Monks Analyst, Celent Insurance Group BOSTON, MA

  3. What Is a Model Insurer? What would it look like for an insurer to do everything right with today’s technology? Key best practices in the use of technology across a broad range of areas

  4. What Is a Model Insurer Component? Components that make up a theoretical model of an insurer’s IT systems and practices No single practice makes an implementation successful Model Insurer Components are those that generally represent the way things should be done

  5. What Makes a Model Insurer Component? Measurable Business Results IT Best Practices

  6. IT Best Practices Use of industry standards Optimization of infrastructure Positioning for future reuse Automation, STP, and system integration Data transparency and compliance Improved use of channels Risk management through proper development, testing, and project management Solicitation of end user feedback and review Use of metrics

  7. Measurable Business Results Higher productivity, lower staff expenses Increased revenue or market share Faster cycle times and more consistent processes Better decisions, more accurate pricing, reduced losses Decreased time to market More efficient document/content management Green organization Improved agent/customer satisfaction and adoption Compliance and reduction of market conduct penalties

  8. Common Themes • Emphasis on innovation • Mobile • Cloud services • Unique product design • Telematics • Continued focus on SOA/Web Services across partners and ACORD standards • Insurers want to build lasting, integrated solutions • Interesting digitalization projects • Using technology to make greener and more automated process flows

  9. Nomination and Selection Process Invitation and self-nomination forms were sent to insurers and vendors across the globe Nomination forms were reviewed by Celent insurance analysts to identify the cases that demonstrated effective use of technology and industry best practices Insurers were interviewed to provide additional information if necessary Celent analysts drafted cases, which were approved by the insurers for accuracy and confidentiality

  10. Client Disclosure There were no fees charged to insurers or vendors for nomination or recognition Some of the nominating vendors, and many of the selected insurers, are or have been Celent clients Celent was not directly involved in the creation or deployment of any of the initiatives that have been recognized No preference was given to clients in the selection process

  11. Functional Areas Agent Portal Claims Distribution Enterprise Systems Infrastructure/architecture IT Management Policy Administration Product Design/Definition Risk Management Service Underwriting

  12. Model Insurer of the Year • Best practices in IT Management • Measurable business results • Large scale project implemented on time and on budget

  13. Celent Model Insurer Components: Case Studies of Effective Technology Use in InsuranceIntroduction of Honored Initiatives and Presentation of Awards CelentBOSTON, MA

  14. Section 1 Agent Portal

  15. Torus InsuranceDelivering a modern portal to Excess & Casualty brokers • Excess & Casualty Portal Entry (ESCAPE) built leveraging Accenture Duck Creek’s policy administration system and Microsoft .NET server, Ajax and chat functionality from LivePerson • ESCAPE’s features include • Aquick-quote capability that lets producers provide a preliminary price to their clients rapidly, avoiding the full underwriting process • Live chat with underwriters, enabled through a co-browsing capability whereby underwriters can share the broker’s screen in real time • The ability to display multiple limit options that spare brokers the need to reenter information multiple times for different limits • Immediate policy issuance upon the binding of risk, including the ability to download a PDF of the quote, binder and invoice • The benefits realized by Torus include: • 87% of quotes require no referral to underwriting • Expansion of Excess & Casualty business without adding U/W or operations staff • Input time for brokers decreased from 10-12 minutes to 4 minutes • Quote, bind, invoice time decreased from 30 days to immediate for 87% of quotes

  16. C N AReal time quoting portal that adapts to any agency’s workflow • CNA partnered with SeaPass Solutions • Leveraged ACORD XML technology • Built a solution that enables agents to create an ACORD XML quote and issuance request • Integrates with CNA’s systems regardless of the agency technology or workflows being used • Real Time Quoting (RTQ) integrates agency management systems with CNA’s proprietary portal, CNACentral.com, and CNA’s proprietary rating system and policy administration systems • RTQ can rate in 30 seconds or less for business owner policy, worker’s compensation and commercial automobile insurance • Effective training program implemented across all independent agencies. • Marketing program “Ready.Set. Quote!” included interactive and educational videos and demos. • As a result of the new portal • Quotes are up 85% year over year • Premiums from these quotes are up 60% • The solution helped C N A make it easier and more profitable for agents to write business

  17. Section 2 Claims

  18. Courtesy Insurance CompanyTransforming claims through new systems and reengineered processes • Courtesy Insurance Company (CIC) underwrites finance and insurance products offered in the automotive industry. • Guaranteed Asset Protection (GAP) is an automobile dealer obligor product offered on new and used vehicles • Working with Innovation Group, CIC implemented a J2EE web based claims management system known as GAP Smart. • Integrated with banks, leasing companies, and the insurer’s billing, contracts, and document management systems. • And with FileNet for imaging, indexing, and records retention making the notification and data gathering phase paperless • Serves as one central system to both internal and external users • Before applying the technology CIC significantly re-engineered their claims process • Significant results include • Productivity increased by 50% • Number of people processing claims dropped by 50% • Allowed for growth and expansion in market • Reduced fraud and claims leakage • Accuracy improved to almost 100%

  19. Universal Insurance GroupThe first digitalization of claims in the Caribbean • Universal Insurance Group (UIG) is the top writer of personal lines in Puerto Rico and controls over 47% of the island’s personal automobile insurance market. • Universal Insurance Group processes more than 77,000 claims annually, 90% are partial loss claims • Paper and labor intensive process was holding UIG’s customer satisfaction rating hostage and stifling growth • Over three years UIG changed the way claims were managed • Addressed both paper file management and its disparate information systems • Now manages claims electronically through OnBase, their ECM solution, and their claims application • Utilize16 workflows from the time a claim is received throughout its lifecycle to create digital records and automatically assign claims to employees for processing • Integrates with PAS and email systems for online image generation • Key success was involvement of implementation team which included staff from all areas and levels • Benefits include: • Customer satisfaction rates of 97%, a significant increase • 45% of partial loss automobile claims settled and paid in one day • Time to process automobile repair shop claims decreased 60% • Checks now available immediately • A claims submission website plus apps for mobile phones and tablets has made Universal the preferred automobile insurer for independent agents

  20. Section 3 Distribution

  21. The Co-operative InsuranceExpanding into a strategically important distribution channel • The Co-operative Insurance offers a variety of general insurance products and is part of The Co-operative Group, UK's largest consumer co-operative • In 2009, at risk competitively as the household insurance aggregator channel rapidly grew • Implemented SSP ‘s InsureJ, an agile component based SOA solution • New direct web site and call center interfaces integrated with existing IT infrastructure • Adopted SSP’s Enhance and Evolve approach to legacy modernization in lieu of a complete replacement • The solution met the insurers needs which included: • Allow for an interface with a wider range of aggregator sites and provide a contemporary user experience • Improve quote volumes and conversion rates • Scale to support additional products in the future • Contain costs by using functionality within the existing policy administration system, while ensuring that the business was on a strategic path to replace this legacy system in the future. • Results • Doubled its aggregator relationships and doubled number of quotes presented to aggregators • Reduced quote times by 50% and online direct sales up 20% • On target to achieve 300% increase in quote and new business volume over the previous year • Improved conversion rates

  22. Erie InsuranceStreamlining the marketing, selling and processing of life insurance • Erie Insurance is a multi-line insurance company which sells its life insurance products through a network of independent agents in 11 states and DC. • Desired a straight through process solution to streamline the marketing, selling and processing of life insurance • Launched iPipeline’s iGo e-App in 2011 integrated with Erie Family Life’s underwriting and policy administration systems (administered by Dell) • ACORD data standards used in integration • Cloud based solution replaced post application data entry into the U/W system • App is accessible through single sign on into Erie website • Includes front end data validation to ensure accuracy • Used with eSignature and eSubmission • Provides agent complete visibility into new business process • Large grass roots effort to ensure agent adoption • Over 40% apps submitted via eApp in first 3 months • Adoption rate surpassed 3 year goal within first year • NIGO apps down 20% and application processing costs down 20% • Time to issue decreased 10% for In Good Order apps

  23. Section 4 Infrastructure/Architecture

  24. AEGON Nederland N.V.Preparing for Solvency II by automating input to internal model calculations • AEGON is a global provider of life insurance, pensions and asset management products • Anticipating Solvency II (January 2014) embarked on data improvement project to develop a data warehouse that could provide all the necessary input for Solvency II required calculations • Chose to build homegrown solution • Informatica data integration platform • Oracle database • HCL’s technical consultation • Recently implemented data warehouse for life lines of business • Integration of three PAS and 25 other different sources • Reduced 5 weeks of manual data gathering and calculations to 24 hours, all automated with traceability for audits • Key success was data integration architecture • Publication layer for data works as a foundation for future data-on-demand platforms • Created an enterprise standard operating procedure for AEGON for all future data projects including comprehensive data definitions and a business glossary for implementation that defined data sources, storage, and final usage in internal calculation model

  25. DirectAsia.comChanging the way insurance is sold in Singapore • DirectAsia.com, launched in June 2010, is a secure, customer friendly 24/7 website for obtaining quotes, purchasing policies, and managing accounts. It is supported by a fully integrated office and call center • Website was built from ground up • Prep work included claims experts from Australia and Hong Kong, process experts from Europe, actuarial help from Singapore and Europe, and IT experts from all over • Used I D I Technologies Software suite, a J2EE SOA application with an integrated contact center management layer, call center telephony APIs, a workflow engine, and multi-channel communication enablers for SMS, web, mobile, email, etc. • Includes end to end PAS, claims and billing software integration with web portal via web services • Document management repository • Hosted environment • Since debut in 2010, over 700K visitors to website, 500K quotes, 21K in force customers, positive customer feedback, especially on customer service and claims service. • In brief history, went from 0% to 4% market share for private car insurance in Singapore

  26. Section 5 IT Management

  27. Nationwide InsuranceProactive monitoring of online and other IT applications • IT Event Management Team’s objective is to monitor the end-to-end health and availability of business critical applications, alerting IT support personnel of system failures before user impact • 15% of system failures in 2010 were “user detected” • Monitoring tools in place at the time did not detect the IT system failure prior to user detection • Failures accounted for almost half of the total unavailable minutes of applications in 2010 • Blind spots occurred in quoting, billing and policy binding functions and failures in those three areas proved difficult to identify • Watch actual web user sessions to detect error messages that appear on users’ screens in real time • Leveraged Tealeaf to record actual web user clicks and interactions • IT team defined specific error conditions for Tealeaf to detect and integrated Tealeaf with Nationwide’s enterprise IT ticketing system; alerts team to high priority incidents across multiple business solution areas • Also leveraged HP Diagnostics to enable proactive monitoring within the “MQ” messaging layers • Allows communication between legacy mainframe based systems and newer distributed systems • Displays mainframe data as well as distributed MQ information, allowing a single proactive view of mainframe and distributed system health metrics • Significant results • Within first few days detected a key Level 0 risk of outage • Exceeded goals by preventing outages and/or limiting their negative impact 31 times in 2011

  28. HDFC Standard Life Insurance CompanyOffering enterprise wide learning through the internet • HDFC Standard Life Insurance HDFC Life from India has over 70,000 Financial Consultants who sell its products • Major problems with HDFD’s goals of expanded branch network and manpower resources • GOAL (Go Online and Learn) Learning Management System offered in all 1200 locations • GOAL leverages SumTotal LMS and enables HDFC Life to offer training and learning initiatives and programs on the Internet / Intranet • Integrated with HDFC Life’s SAP HR system and LifeAsia, its policy administration system • Key elements • Use of ADDIE (Analyze, Design, Develop, Implement, Evaluate) - standardization • Expansion of IT infrastructure at all locations • Records every learning activity (classroom, online or field or blended) • Alignment to business goals = training matches strategic plans • All new hires are trained within one week of employment and progress is tracked • Compliance with regulatory requirements for training • Significant results • Available at all 1,200 locations • Online training hours recorded in the first 16 months equaled 65,525 • Equates to $1.3 million in savings

  29. Section 6 Policy Administration

  30. Mitsui Sumitomo Insurance Co., Ltd.Coping with a nationwide disaster in the cloud • Mitsui Sumitomo Insurance (MSI) is one of Japan's largest non-life insurance companiesand sells insurance policies through a network of 530 sales offices and 40,000 independent agencies. • After the East Japan earthquake in March 2011, MSI was required to quickly settle claims and terminate policies on lost property • To successfully achieve this goal, MSI required a quick information sharing solution that could be accessed from anywhere at anytime. • MSI decided a cloud based Platform as a Service (PaaS) would meet their time constraints and allow them to effectively manage earthquake affected policies • MSI chose Microsoft Windows Azure and implemented it in one month and at low cost. • Project management included a team including product department managers, IT SMEs, and call center managers. • Agile development – conducted daily sprints alternating between discussions and development. • Focused on the minimum and mandatory business requirements and kept the system as simple as possible. • Specific data fields from over 20,000 policies were uploaded onto cloud platform • System will be in use for eight months. • No interface built between the MSI master policy administration systems, so there is no need to export data from the cloud back into the master files • Files will be exported to a log, data deleted and contract terminated

  31. Philadelphia Insurance CompaniesCoordinating the replacement and integration of multiple vendors systems to achieve enterprise operational efficiencies • Philadelphia Insurance Companies (PHLY) designs, markets, and underwrites commercial property/casualty and professional liability insurance products for select industries • Existing systems were not flexible enough to improve operational efficiencies , increase capabilities for policy creation and serving, and make it easier for agents to do business with the insurer • Identified six major gaps from inability to access and service accounts from the web to Philadelphia’s dependency on their vendors for changes to their systems • Chose Sapiens RapidSure (SOA based, J2EE architected) solution • Integrated with existing imaging, billing, claims • Also implement CGI Ratabase and Document Science xPression • All systems were decoupled to allow for real time processing • ACORD messaging was the standard so a translation was necessary for older systems • Results • Project completed in six months • First product rolled out in 16 weeks • Within 24 weeks, PHLY achieved complete system rollout of 5 products in 50 states including conversion • In past two years, rolled out six products, representing 4 lines of business, averaging 4 months per product • Agents and insureds have web access for selling and servicing • PHLY now has complete configuration control and capability over product or system changes

  32. PURE (Privilege Underwriters Reciprocal Exchange)Using configured work flow processes to meet customers’ unique needs • PURE is a policyholder owned company focused on meeting the unique and often individual needs of successful individuals and families • Canvassed policyholders regarding policy and billing delivery preferences • Wide range of preferences meant one-off processes were necessary • How they did it • Developed and implemented a workflow automation process into their existing OneShield Dragon policy administration system that allows agents and members to define their preferences and service them according to their preferences. • Worked with agents and members to fully understand electronic delivery and, as a result, • Delivered a e-delivery solution that has been adopted by more than 45% of its new business • Benefits • Increased ease of doing business along with higher standard of service • Began writing in 17 new states without adding additional resources dedicated to policy and billing delivery • Eliminated more than 50,000 printed pages related to policy issuance • Reduced costs from $23.00 per policy to about $0.25 per member, with an average of two policies per member

  33. Section 7 Product Design/ Definition

  34. Canal Insurance CompanyLeveraging technology to open up new markets • Canal has historically developed unique insurance programs that rely upon products developed and customized by the Canal product development and actuarial staff. • The typical product development cycle ranged from 6 to 12 months. • Business opportunity presented to Canal in 2011 highlighted inability to design products quickly • Requirement: have product to market within six weeks for quoting renewals • Canal chose to pursue opportunity • Implemented ISO Rating Service, AQS Designer Access, and AQS Quote Access • Integrated with Canal’s iQuotes portal and backend systems • All were developed and are maintained in a Microsoft .NET environment and use SQL server • Results • Able to put new products in production in 46 states in 6 weeks • Decreased product implementation time by 75% • Decreased product implementation costs by 85% • Increased premium volume by 10% in 8 months with new book of business • Represented large cultural shift from technical and business perspective • Change from niche product insurance company to less customized • Reevaluating and expanding market position • New opportunity arose in late 2011 – able to meet requirements with less than 75 hours of IT resources

  35. The HartfordChanging the business model of how life insurance is sold and bought • In 2010, The Hartford sought to change the way life insurance is bought and sold • Issue First changes the order of the life insurance application process • Eligible clients get immediate coverage in about five days • Agents get immediate closure of the sale • How does it work? • Uses iPipeline’s iGo eApp with eSignature and full integration will illustration and producer web portal (ACORD based web services) • Does not eliminate underwriting or put a low cap on the face value of the policy • Asks as few as eight questions to determine eligibility • Coverage offered at predetermined ratings (standard is recommended) • Wait for underwriting to confirm the final rate • If rating and price is higher, policyholder can choose to pay more or cancel and get a full refund • Results of 2010 pilot and 2011 launch • Closed 383 Issue First cases with total premium $2.4 million • Placement rate of 95% compared with 65% for non Issue First applications • After underwriting, 90% of eligible cases received a rating that matched or exceed the initial rate given • Agent feedback is positive and a growing number of independent agents want to work with The Hartford because of Issue First

  36. Tokio Marine & Nichido Fire Insurance Company“One-Time Insurance” products that can be bought anytime and anywhere • In April 2010, Tokio Marine & Nichido and Japanese telecom company NTT docomo teamed up to lauch a series of insurance products called “One Time Insurance” • “One Time Insurance” products • Short term; designed to cover potential risks from sporadic and short term events • Purchased any time and any where from smart phones • Premiums start around $4 • Designed to cultivate an untapped market and attract a new customer segment • Technology involved • Consumer’s mobile phone platform identifies user by phone serial number • Using PIN code, basic information is retrieved from NTT docomo’s database • GPS identifies location • Context aware computing technology provides insurance product recommendations based on current location and past activity of mobile phone user • Results • Introduced golf, travel, and sports/leisure insurance first • Since introduction, medical insurance with a health promotion program • One Day Auto Insurance for those who don’t own a car and need to drive a borrowed car • Opened a new delivery channel that does not conflict with existing agency channels

  37. Section 8 Service

  38. Great American Insurance CompanyMobile application delivery to a niche market • GAI embarked on delivery of mobile applications to the Trucking and Equine industries in 2010 • Took six months and $25,000 to implement applications because of foundation work at insurer • Previously deployed modern internally developed and best of breed solutions based on SOA principles to support submissions, underwriting, policy, claims, and electronic document management • Positioned GAI to deliver custom mobile application front ends targeted at agents and consumer • Mobile apps interface with back end systems • Code base of all involved systems are not customized • IT and business areas worked in tandem to define system requirements and functionality • Mobile application functionality includes • Payment and claims capabilities • Policy views • Mapping technology for locating services • Intuitive data entry on multiple phone platforms • Results • In first six months, over 300 active equine policy accounts using apps/220 paid bills through app • 15,000 trucking apps downloaded • Gives GAIG ability to compete with larger insurers in the market • Appears first in Google search for Equine Insurance

  39. Prudential Group InsuranceUsing BPM to create a single intuitive view of the customer • In May 2010, Prudential launched “CustomerOne”, a major service initiative to improve the customer experience, increase efficiency, and reduce costs. It had a three year life span. • Project scope: all operational contact centers as well as select operating areas including claims, billing, and medical underwriting • End Goal: web services enablement of nine underlying group policy administration platforms to provide real time case management and implement an intuitive user interface for customer service representatives • Prudential selected Pegasytems BPM to achieve results • Integrates 9 legacy systems and 5 IVRs • Corporate security systems • Web portals • Monitoring tools • Project governance team had “by the people, for the people” mentality • Results • Five contact centers consolidated into one and customer service staffing reduced by 14% • With 50% of CSRs trained on system CSR utilization increasing and climbing towards goal of 80% • Call volumes up 16% without drop in service levels • Consistent single view of the customer • Consistent process – any associate can service any product

  40. ZurichUsing telematics to improve fleet operations and risk • Zurich is one of the largest automobile fleet insurers in the world • Zurich Fleet Intelligence developed in 2010 • User friendly, onboard, driver focused telematics technology • Combines telematics with extensive reporting tools to turn raw data into insight • Helps improve driver safety, reduce fleet operating costs, optimize journey planning, and improve fuel economy • Zurich contracts with vehicle telematics application providers • Once equipment in place, data collected on vehicle and driver behavior • Fleet operator accesses data via web portal • Zurich developed data hub to collect data • Gathered data is used for targeted training and coaching • Results • Launched in UK, USA, Canada and Australia • In UK, 15 fleet operators participate • Immediate ROI achieved by participant • 15% fuel savings • Collisions and minor incidents down 13% • Damage reductions down by 40% for fleet owned vehicles and 30% for third party vehicles

  41. Section 9 Underwriting

  42. American Safety InsuranceIntegrating all underwriting units under a common system • American Safety offers specialty insurance to underserved markets • Added a unified underwriting, rating and policy administration platform accessible by brokers • Integrated four of ASI’s least automated underwriting units into one single underwriting and PAS • Also integrated downstream applications like billing, content management, reinsurance, data warehouse, and claims • Accenture’s Duck Creek Policy Administration System was the backbone • Included at least three other vendor systems and several internal systems • Syntel was the implementation partner • Some significant benefits • Improved underwriting due to consolidated, accurate data and consistent rating methodology • Eliminated manual and redundant process steps • Consolidated business requirements • Common workflows for 60% of process • For first two products, automated 90% of process (versus 18% with old method) • STP of automated quoting increased from 15% to 70% • Reduces IT maintenance and support costs by $400K annually • Reduced implementation for new LOBs by two-thirds

  43. QBE European OperationsLeveraging a geographic risk assessment tool to manage portfolio exposures • QBE Insurance Group is Australia’s largest general insurance and reinsurance group. • QBE UK developed an inhouse underwriting and actuarial tool called RAPTOR (Risk Acceptance Pricing Tool for Optimum Rate) • Integrated Mapflow, a geographic risk assessment tool which geo locates business property addresses then tags the associated risk from flooding, subsidence, and commercial burglary • Also provides indication of accumulation of QBE policy locations so that QBE can manage portfolio exposure • Benefits gained • Real time accumulation of issued during underwriting • Assessment of geographic risk • Improved accuracy of pricing • QBE UK has saved 1% on reinsurance spend in 2010 (equated to a six figure saving) • Avoided potential loss for the Cumbrian Flood in 2010 • Additional profit achieved as a result of more accurate pricing

  44. Section 10 Risk Management

  45. AIG - ChartisLeveraging a geographic risk assessment tool to manage portfolio exposures • With pressure on operating expenses, increasing regulation, a competitive marketplace and cost of paying out claims, Chartis needed insurance from a growing risk environment • Business analytics would be the answer • Strategic Risk Analysis (SRA) team creates automated solutions to target challenges in underwriting, risk management, and accounting • Targeted three areas: executive liability, catastrophe planning, and financial accounting • Executive Liability • Statistical analysis of loss drivers • Identified fewer than 3% of all companies were responsible for majority of claims • Focused on profitable segments • 100% growth in segment and $14 million in new business • $75 million in claims were prevented by active management of poorest performing segment • Catastrophic (CAT) risk • CAT model built using SAS Business Analytics • Evaluates 2 million commercial policies • Outcome is daily marginal contribution to risk on each policy, particularly new business • 15% reduction in CAT probable maximum loss (PML) = lower reinsurance premium expense • Identified $22 billion in unreconciled claim payments for a deferred tax credit of $10 million

  46. Section 11 Enterprise Systems

  47. L&T General Insurance CompanyRealizing organization wide results in short time frame • L&T General Insurance Company, part of Larsen & Turbo, Inc., began operations in 2010 • TILT (Technology Innovation at L&T Insurance) was implemented in October 2010 • Enterprise wide, single integrated technology platform – end to end solution for full life cycle of general insurance products • Includes general accounting system, reporting, and provides for business continuity planning • Core philosophy of design and technology is ‘openness & flexibility’ • SOA and J2EE • Vendor software from IDIT, Oracle, SAP, FileNet, and IBM • Includes mobile applications and cloud based micro insurance services for micro and rural insurance • Key quantitative metrics delivered by TILT include • Redefined motor policy insurance eliminating manual cover notes - can issue policy in 20 minutes • Enabled L&T to launch 28 products within 8 months across all lines of business • Improved speed to market by at least 18 months as compared to legacy systems • Enterprise productivity improved 15% because integrated system requires less manual intervention than legacy system • Distribution reach expanded to included rural market – on the spot policy issuance for low cost, high volume policies

  48. Section 12 Model Insurer of the Year

  49. Nationwide Insurance • Consolidated two $1 billion commercial businesses • Iterative, cooperative development approach between IT and business • Comprehensive implementation roadmap • Conversion of IT department from maintenance shop to delivery factory • On time/on budget delivery • Overcame post-merger business and IT challenges • Market expansion – new states and new distribution channels

  50. Photos and Lunch January 26, 2012 CelentBoston, MA

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