A Focus on Digital Transformation for Business Continuity
As many companies work to adopt a work-from-home model they are finding that their existing processes aren’t scalable and are challenged to accommodate remote workers. COVID-19 will push insurers to adopt digital workflows, self-service options and automation for internal processes.
Solutions3000 has been helping companies automate and move to digital for over a decade. Contact us so we can help you start making these very necessary changes.
Why work with Solutions3000?
Technology and Insurance are becoming more integrated than ever before. In 2019 almost $2 Billion was invested in the Insurtech sector, a new record amount. CIO’s are spending more and more on IT projects, but this spending needs to produce measurable results quickly. It is no longer enough to move applications online or provide more data through the web. Carriers must focus on a total integrated strategy – electronic applications integrated with real-time underwriting and decisioning and electronic signatures. Electronic delivery all supported by an admin system that is integrated and able to provide real-time data to your customers and internal support staff. Companies who are able to deliver technology, integrated with a superior customer-centric set of tools, will be positioned for success. Solutions3000 can help you develop your strategy and implement it in a way that maximizes your technology investment.
Solutions3000 is a group of individuals who came together to help insurance-focused companies grow and use technology more effectively. We work with your teams to develop strategic business or technology plans and then have a hands-on approach to help you achieve your goals. We work as partners – supplementing your existing teams to provide support and guidance allowing you to take on new projects while maintaining current employee responsibilities.
Our experience includes:
- Managing multiple policy administration system implementations and upgrades. We’ve worked with Accenture, FAST, Life70, LSP/GIAS, ID3 and others with responsibility for the end-to-end process from requirements definition to model office testing, documentation, training and production delivery for multiple life and annuity providers
- Implementing electronic applications with all the leading vendors, plus implementation of custom solutions. We’ve implemented automated underwriting solutions with Hannover Re and Swiss Re and developed the integration to the e-app in support of real-time decisioning. We’ve developed custom software and workflow tools to automate the back-end processing of data once received from the e-app and built training to support marketing and distribution
- Implementing process and workflow changes with multiple carriers. We’ve designed and led “process improvement labs” where we break down all parts of an existing process to look for short, medium and long-term improvements that can be made to reduce service times, reduce manual touches and improve customer service. We’ve worked to improve call center performance, develop policy assembly workflows and review and improve new business operations
We like to think of ourselves as your partners, helping to develop your strategy and then working to supplement your existing staff to implement projects.
- Planning – We’ll help develop the approach, document the requirements and work with vendors on contract negotiations so you have a project plan that is accurate and comprehensive
- Develop – We can manage all or part of the development effort, work with your teams or manage vendor deliveries.
- Testing – We’ll develop a comprehensive test plan to ensure that your end-to-end testing is robust and that we are validating results against your specific requirements. We will work with the business users to ensure we have a thorough user acceptance test plan and that we have downstream system support for data and process changes
- Production – We’ll support the production implementation process and then manage future changes until the project is complete
WHO WE’VE HELPED
At AIG we worked in the Life Operations Division to lead a process review for New Business, Claims, Billing and Policy Owner service functions with the goal of identifying short, medium and long-term process improvements. The review resulted in a significant FTE savings across multiple Operations functions and significant cost savings created by automating manual processes or moving work to lower cost areas. We also led the Operations requirements and sign-off for a major conversion project, moving 1.2M policies to the Accenture Life and Annuity Platform (ALIP) over an 18 month period. This included defining business requirements for Life Operations and managing the review testing and delivery process for the admin system and all connected supporting systems.
At GPM We led a policy admin conversion effort to move policies from the legacy LSP system to the web-based GIAS (Concentrix) platform. We developed an agile delivery approach and designed the model-office testing strategy to streamline the delivery process. We also assisted in re-designing the Operations Call Center to dramatically improve SLA times. Solutions3000 also helped to implement a rules-based underwriting system and worked to implement electronic applications and signatures for GPM Life.
Government Personnel Mutual Life Insurance
At National Western Life we led the conversion project to migrate 250K+ policies from a legacy system to the FAST web-based platform. We were responsible for the overall implementation effort which included defining and managing development sprints, unit and model office testing, back-end integration testing and the production deployment process. We also led the creation of an electronic application process with real-time underwriting (Ebix and Hannover Re) and electronic signatures (DocuSign). Solutions3000 also led the effort to implement DTCC and place the first Life product on the Ebix AnnuityNet platform.
National Western Life Insurance Company
At Catholic Life Insurance we implemented Electronic Applications for multiple products and lines of business and built the data integration layer to help move this data into the policy admin system. We also developed custom software to assign policy numbers to incoming applications (paper and electronic), created a custom suitability scoring system and created a workflow system to parse through attributes contained in inbound XML files to greatly reduce paper and increase accountability across departmental lines.
Catholic Life Insurance
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GET IN TOUCH
We’d love to talk with you about your plans. Use the email below to get in touch with us – we’ll get back with you immediately.
WORK WITH US
Do you enjoy being challenged while still enjoying your work? Do you appreciate being recognized for your skills? Do you enjoy working on a wide variety of projects?
If you’ve worked as an analyst, project manager, developer or in operations in the life insurance industry and are interested in working with Solutions3000 use the form below to get in touch with us, or send us an email at Careers@Solutions3000.com and we’ll get back with you immediately.