If you are an insurance IT exec reading this post, there’s a really good chance that your company is in the middle of—or seriously thinking about—a policy administration system conversion or consolidation. A really good chance. In fact, Novarica tells us more than one-third of the industry currently falls into this new policy system bucket.
The reasons for converting to a new PAS system are compelling and important—elimination of redundant processes, simplification of existing systems, flexibility, cost reduction, etc. While these capabilities can be game changing for your business, can you afford to gain them at the cost of losing business from your agents? Yes, that’s right, losing business.
In the 3-5+ years it takes you to upgrade your back end systems, your agents will likely hate doing business with you if you drag them through all of your change. To stay competitive during the transition, you need to shield your agents with a decoupled portal solution placed strategically between them and the chaos on the back end. Our friends at Arbella Insurance Group did just that.
Arbella used AgencyPortal™ to shield their agents from the consolidation of five policy admin systems to one. Not only that, but the carrier was also able to take advantage of AgencyPortal™’s internal XARC rules and do away with a third-party rules engine. Over the years, one solution has helped Arbella reach a number of strategic objectives, ultimately rendering them more technologically efficient internally, and easier to do business with externally. Read about the strategy in Insurance Networking News’ recent interview with Arbella CIO, Paul Brady. Even better, download the case study.