Experience Insurance Rating

Appalachian Underwriters Modernizes Policy Lifecycle Management to Deliver a Unified Digital Experience

Appalachian adopted ValueMomentum’s cloud-native BizDynamics Platform to provide agencies with a unified digital experience that includes full policy lifecycle management. The consolidated portal offered policy acquisition and servicing options, allowing Appalachian to slash its rate/quote timeline by 85%.

Business Need

AUI needed to develop a platform that would become a model for modernizing policy lifecycle management across their sister divisions. The introduction of a new product–AssetGuard, which insures valued collections and other assets of high-net-worth individuals–also spurred a need for a solution beyond intuitive agent dashboards.

Tools and Technology

Development leveraged BizDynamics, a purpose-built P/C solution, to seamlessly integrate AUI’s new data warehouse and its agency management solution, the Insurance Management System (IMS) framework by MGA Systems. AUI also adopted integrated rating with iFoundry, ValueMomentum’s rating engine, enabling the firm to mix its proprietary rates with out-of-the-box ISO bureau rating.

Success Factors

AUI credited success to BizDynamics’ intuitiveness and substantial ease compared to competing systems. The self-service capability to run multiple “what-if” scenarios for clients also transformed AUI’s employees from simple quote generators to a sophisticated underwriting team.

Impact

AUI slashed policy rating and quoting by 85%, from 35 minutes to less than five, improved premium pricing competitiveness, and boosted agility and scalability for fast product introductions and updates.

Partnering with ValueMomentum provides our business unit and our parent company with tremendous scalability. Overall, we now have the robust solutions needed to maintain a strong competitive position during coming years.

Director of Reliance Risk Solutions, AUI

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