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Insurance provider innovates to modernize quote system | New Era Technology

Written by New Era Technology | Nov 2, 2020 5:00:00 AM

A large insurer was looking to modernize their online quote system to save time, money, and resources. Setting out to have users fill in only one question, they worked to develop a platform to provide accurate quotes with minimal information and clicks.

Challenge

A leading property and casualty insurer wanted to modernize their online quote system to make the process more efficient for both customers and underwriters. More specifically, they wanted to reduce the time both customers and adjustors had to spend filling out forms while maintaining the integrity of the quote. However, they also needed a solution that would integrate with their legacy applications and comply with industry regulations and the insurance requirements of individual states. 

We had worked with this insurance company in the past and had historical expertise with their backend legacy applications. Because of our past relationship, they engaged Fusion to work alongside their team members in modernizing technology and creating a custom solution that would improve their online quote system. 

Solution

Understanding their objective and how the challenges they faced impacted meeting the objective, We designed and developed a platform that reduced redundancies and would support completing a policy quote in real time without having to fill out long online forms. More specifically, we minimized the amount of information required and cut down the quoting time by approximately two-thirds.  

Although the time to get the quote was now drastically reduced, this insurer wanted to take the platform a step further and make it easier for users to get to multiple quotes without having to click through additional screens or start over. They wanted to ensure the system could provide a quote for one insurance line (e.g., cybercrime), but also provide you with multiple quotes across all their service lines.

We deployed five teams to use scaled Agile framework (SAFe) and create a more advanced, modern platform that allowed agents and underwriters to get quotes in real time for multiple lines and with multiple information.