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Single-State Insurer Expansion


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Single-State Insurer Expansion

A U.S. based P&C insurance carrier had sold personal lines ($80 million GWP) and commercial lines ($20 million GWP) in a single state. Given its positive cash balance, the carrier decided to expand its reach to additional states.

The carrier engaged Xceedance after choosing a policy system for its personal lines business, then encountered implementation challenges and an uncertain delivery date. Its chief concern was ensuring the new system met its high standards of transactional accuracy and customer service.

OUR APPROACH

We formed an interdisciplinary SWAT team that included members of our consulting, technology, and insurance operations units. After reviewing the product filings for the new states, our team thoroughly tested the new system across its quote, rate, bind, issue, cancellation, and renewal capabilities. We also validated data inputs from third-party data providers.

SUCCESS METRICS

Our policyholder-centric review of the new system enabled our client to launch business in other states and to onboard 12 new agencies. With our support, the client issued its first policy in just its second day of operations on the new system. We were able to:

Support the client’s launch in new states


Help the client streamline its channel management


Validate the client’s application and information architecture


Develop a detailed implementation roadmap that improved the client’s speed to market


As a result of our success, the client invited our consulting unit to review its commercial lines business and to develop a roadmap for operations and technology optimization.

Mission accomplished.


CONTACT US TODAY

Please CONTACT US today to learn more about the ways in which we can help you achieve your success metrics.

Time and opportunity are passing you by.