Annual case study compendium provides insights into impactful IT projects by insurers features case study of Insuresoft project at Figo.
June 1, 2016 (Tuscaloosa, AL) – Insuresoft, announced today that Figo Pet Insurance, an Insuresoft client, has qualified for the 5th Annual Novarica Research Council Impact Awards, which recognize insurer CIOs’ impactful initiatives with the industry’s only purely peer-reviewed awards program.
A case study of Figo’s project “Start-Up Core Systems” was recently published in Novarica’s Best Practices Case Studies Compendium, available to Novarica Council members at http://novarica.com/compendium2016.
Final winners will be selected exclusively by votes from the nearly 400 insurer IT executive members of the Novarica Insurance Technology Research Council. Voting is open until September 15, 2016, and winners in each category will be announced this fall.
“Since 2012, Novarica has published more than 150 case studies of insurer IT initiatives that deliver business impact,” said Matthew Josefowicz, president and CEO of Novarica. “These cases provide insights into how insurers are using technology to drive business value today, not in the distant future. Figo’s project with Insuresoft is among this year’s qualifying cases.”
“It is an honor for Figo’s project implementing the Diamond System to be selected as one of the finalists in the Novarica Impact Awards,” said Tony Villa, CEO of Insuresoft. “Rolling out the Diamond system, online quoting, and a cloud-based portal (including mobile claims submission), in less than 10 months, showcases Figo’s commitment to excellence and providing their insureds an exemplary customer experience. Figo’s dedication to this project and their outstanding results make them an optimal choice for this award,” Villa stated.
“Insuresoft made significant contributions to Figo’s success,” said Rusty Sproat, founder and CEO of Figo Pet Insurance. “Without them, we would not have been able to successfully integrate multiple systems into a unified platform. Each member of their team was empowered to make decisions, push-back and excel as subject matter experts creating a seamless project experience.”
Sproat concluded, “Insuresoft understood we were an entirely internet-based business. As a result, they were able to fully integrate their insurance solution with Figo’s Pet Cloud technology platform. Customers can access vet information, view policy documents, setup online pet profiles, file claims, find pet-friendly businesses, track their pet’s real time location with a GPS-enabled collar, text customer support, and more, all from the smartphone. It’s unbelievable what they accomplished in a short time.”
As a result of the new capabilities from the Diamond Suite, Figo achieved a successful market launch, and has been able to support mass enrollments for voluntary benefits clients and private exchanges. Additionally, the Diamond broker portal has allowed Figo to upload and enroll over 6,400 Independent Agents and pay commissions electronically. Figo went from startup to 50 states in just under 9 months supporting 30% month over month growth.
About Figo Pet Insurance
Figo Pet Insurance is a Chicago-based pet insurance and technology provider committed to helping pets and their families enjoy their lives together. We got our start at 1871, the premier technology incubator, and one of Google’s Tech Hubs in North America. From there we have grown into a company that has truly made pet insurance easy. With our love for pets, obsession with technology, and background in insurance, we created a unique cloud-based pet healthcare offering. Underwritten by the Markel Corporation, Figo Pet Insurance provides pet owners with easy-to-use, reliable insurance and peace of mind. Beyond coverage, Figo’s Pet Cloud gives people the tools they need to manage their pet’s entire life. For more info on the Figo Pet Cloud or Figo Pet Insurance plans and coverage, visit FigoPetInsurance.com.
About Insuresoft
Insuresoft is a Microsoft Gold Certified software developer serving the property/casualty insurance industry. Insuresoft’s flagship offering, The Diamond Suite, is a fully integrated policy, billing, and claims processing platform. One of the few systems to be in production for more than 20 years, Diamond is in production in nearly 30 insurance companies and MGAs across all 50 states, processing $1.5B in personal- and commercial-lines premiums annually. Diamond is scalable, configurable, and cost-effective. Insuresoft is privately held, with offices in Tuscaloosa, AL, and University Park, IL. For more information, please visit www.insuresoft.com, email sales@insuresoft.com, or call 866-299-1314.
