Case Study

 

Summary

Replacing a legacy policy administration system with a single solution vendor, capable of cost-effective end-to-end application maintenance outsourcing, can support achievement of growth and expense business objectives. Successful utilization requires a vendor with solid base functionality & robust architecture and a client company with strong corporate commitment to using the system as designed and migrating to new versions as the system evolves.

Introduction

How many smaller P&C companies rate in the top 10 of agent satisfaction and grow significant direct written premium while maintaining a competitive expense ratio? Not many.

However, Buckeye Insurance Group of Piqua, Ohio has been able to do it. Management believes their success is related to their decision and approach to the use of Insuresoft’s Diamond policy, billing and claims systems for personal lines insurance processing. R. Christopher Haines, Vice President & CIO, consistently hears from agencies and field staff that what sets Buckeye apart is its people and technology.

Buckeye’s motivation to replace their legacy system was typical: growth (ability to develop new products, quickly adapt pricing to market conditions, enter new states, improve service) and expense management (improve internal productivity, better govern technology investments).

It was also clear the management team was looking for a system that would support execution of their business strategy on a platform that was technologically sustainable and cost-effective. They appear to have found it within Diamond.

Please click here to view the PDF and read the rest of the case study