|By Marketwired .||
|December 13, 2012 11:15 AM EST||
SAN JOSE, CA and MONTPELIER, VT -- (Marketwire) -- 12/13/12 -- ISCS is pleased to announce that Union Mutual of Vermont Companies (UMVT) completed Phase I implementation of ISCS's flagship product, SurePower Innovation®. The new system provides UMVT a flexible, fully web-based platform to deliver market-leading service to its policyholders and increased ease of doing business to independent agents.
This Phase I implementation brings UMVT live with four major lines of business -- homeowners, personal auto, personal umbrella and business owners -- in six New England states, representing over 95 percent of the company's policies. The implementation was accomplished in less than 18 months using state-of-the-art software modules for real-time rating and quoting insurance coverage, issuing and managing policies, print and electronic correspondence, billing, and Web access for policy holders and independent agents.
"We are especially proud of the collaboration during this implementation between ISCS staff and UMVT's internal experts," said Andy Scurto, president of ISCS. "Throughout this project, UMVT has continually demonstrated not only a desire to grow and improve service to agents and policyholders, but to mastering and integrating more modern technologies to achieve those goals faster."
For UMVT, this implementation will also result in an increased ability to make more accurate pricing decisions which ultimately support improved loss ratios and decreased time to market for pricing changes. Through SurePower Innovation, UMVT will gain greater document management capabilities, improve agent and customer satisfaction across all lines, and refine the agent licensing process to assure compliance faster and reduce fine exposure.
"Rollout of the complete SurePower Innovation suite is one of the critical elements in our strategic plan," said Gary H. Ouellette, vice president of operations, technology and enterprise risk for UMVT. "These key independent agent centric functionalities position us to lead in our markets. The challenge of implementing such powerful comprehensive capabilities on an aggressive timeline would have been impossible without UMVT's unwavering commitment combined with ISCS's experience and partnership."
Both teams credit the use of agile project management methodology for helping to streamline the implementation process by fostering teamwork and blending disparate departments into functional work groups. The agile approach promoted process consistency with higher productivity and lower expenses.
UMVT expects Phase II of the implementation to be completed in 2013, rendering them fully capable of applying SurePower Innovation to all of their policies, across all lines the company currently writes.
P&C carriers and MGAs rely on the modular, Web and SOA-based SurePower Innovation Policy Administration Suite to perform critical business processes for commercial, personal and specialty lines of business. These include underwriting automation, policy and claims management, integrated reinsurance, integrated billing and much more. The system provides integrated document management, a rules-based data warehouse, and document imaging client tool for bulk indexing and LDAP-standards security. With modern highly scalable, extensible, and configurable technology, SurePower Innovation enables insurers of all sizes to meet today's market requirement for business agility. SurePower Innovation Policy Administration Suite is a company-wide, strategic choice for carriers to both retain customers and increase their book of business. For more information contact Phil Kiekhaefer, Ph.D., Director of Marketing & Usability for ISCS, at 1-888-901-ISCS, [email protected], or visit www.iscs.com
About Union Mutual of Vermont Companies (UMVT)
Union Mutual of Vermont is comprised of three companies, Union Mutual Fire Insurance Co, New England Guaranty Insurance Co, and Eastern Mutual Insurance Co, which write property and casualty insurance via independent agents throughout New England and New York (except New York City). Union Mutual began business in 1874. For more information about UMVT, please visit the company website at www.umfic.com.
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