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Legacy modernization
Policy Administration Systems program aiming to replace their existing commercial and personal policy administration system, in addition to replacing the billing, reporting and printing systems.

Industry
P&C Insurance – Commercial and Personal Lines

Client
Fortune 500 multi-line Insurance company offering auto, home, commercial and life insurance

Needs addressed
Core Systems Replacement & Modernization

The following pain points were addressed:

• Legacy Policy Administration built on Mainframe technologies
• Multiple systems performing the same functions like Rating, Billing and Reporting
• Cumbersome to maintain with increased costs of ownership
• Limited automated underwriting functionality and workflow
• Harder to roll out new products &/or changes to existing products to market in quick time
• Difficult to integrate with real-time systems
• Policy centric view instead of customer centric view
• No cross selling or up selling capabilities

Technology Solution delivered
Core Systems Replacement & Modernization,Business Rules Management Systems (BRMS)

• Policy System(UI, Business Rules, Workflow, Product Configuration and data modelling)
• Dragon Designer:
  • Metadata based development platform which can be used to configure a Policy Administration system
  • Capabilities included configuring the UI, Business Rules, Workflow and Product Configuration.
  • Dragon Designer was selected as the key component in the system which would allow the Carrier to build a web-based PAS capable of integrating with the various other new systems which were brought into the landscape.
• This effort included interfacing to a new billing system; designing, constructing, and configuring a rating engine, integration layer, and new print engine while incorporating enterprise initiatives for Data Governance and Distributed Architecture.

Execution model
T&M

Technologies used
Dragon OneShield

Benefits delivered

• Provided agents with a better system so they are encouraged to write more policies with Carrier#1.
• Increased processing of policies with minimum underwriter intervention.
• Lessened administrative and system support costs.
• Established a foundation upon which it is relatively easy to add new products and states.
• Reduced costs/time across the policy processing life cycle

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