Cover-All Partnered with AIX to provide one of the world’s largest, privately owned, independent insurance brokers with full policy administration including rating, issuance, and billing information. The solution supported both admitted and non-admitted products for five broker’s programs. In need of custom forms and program-specific solutions for Commercial Package, Automobile, Garage, Umbrella, Workers’ compensation and Billing, Cover-All was brought on board to provide this high-profile client with Cover-All Policy and Business Intelligence in a very short timeframe.
With up to 300 new claims needing to be handled each day, FAMI made a commitment to transform its claims processing function. The technology modernization initiative, named the “iFAMI” project, consists of a multiphased approach. Beginning with its Businessowners Policies (BOP) and followed by Commercial, Personal and Farm lines, FAMI replaced its legacy systems with modern technology solutions that enable the company to be more nimble and responsive.
Most enterprises struggle to connect with customers in a meaningful way. Bills and statements—the most common customer touch-points—are often confusing and impersonal, leaving customers unimpressed and less than satisfied. To engage customers and build loyalty, enterprises need to not only rethink their existing documents, but also harness electronic formats and channels and make use of their vast amounts of customer data to create personalized, targeted and interactive communications for every stage of the customer life cycle.
While IT has for years relied on the mandates of the business, the need to work together has become more apparent, as a rocky economic environment, a fresh focus on business growth, and rapidly changing technology place growing demands on the insurance IT department. Four insurance technology experts reveal how close IT-business collaboration works to facilitate IT budgets that foster long-term growth.