Financial Services: CSC's Quick Web-Enabled Solution Helps the Client Achieve Policy Processing Efficiency

The client firm handles commercial agriculture (CAG), commercial package policy (CPP), workers compensation (WC), business owner policy (BOP) and umbrella lines of business (LoB). Operating within these LoBs, the client business spectrum offers multiple property and casualty insurance products.

The client wanted a quick policy processing solution that can help its agents book business in a user friendly way, reduce overall cost and time-to-market, and cut down the overall policy processing time. The challenge for the CSC in India and US Agency Link Services teams working on the project was to implement 14 insurance lines in nine months including the development and delivery of a new line of business, CAG, in less than four months.

The determination and the hard work of the offshore and onsite teams resulted in the success of the project. The client went live on POINT IN Agency Link for CAG LoB, which is now used by insurance company and its agents to perform transactions over the web.

Challenge

Speed-to-market was critical for the client. The client needed a fast solution that not only offered a state-of-the-art policy processing solution, but also managed capital efficiently. The major challenges were:

• Speed-to-market solution at reduced operating costs


• Availability of new technology and internet capability to agents


• Current Insurance Services Office (ISO) rates, rules and forms


• Single system for commercial lines processing

Solution

CSC proposed business process outsourcing (BPO) services for client’s multilines insurance business consisting of commercial package policies, general liability, workers compensation, commercial agriculture (modified CPP), umbrella and business owner’s policies. CSC’s BPO services are based on industry best practices, subject matter expertise in workers’ compensation and the leading policy administration system for commercial lines.

As a part of the offering, CSC POINT IN Agency Link would provide client’s producers/agents an Internet-based solution for policy processing of all its LoBs. The POINT IN Agency Link product provides agents Internet-based access to the system, allowing them to access current policy, billing and claims information; submit an initial notice of loss or endorsement; and accurately rate, quote and issue policies over the Internet. The objective is to provide complementary outsourcing services to the client so that the client can focus on its core competencies of underwriting and managing the commercial volume of business.

The project started in February 2006, with the Agency Link Services teams from CSC in the US and India working on it. While working, the team had a strict time schedule that required development and delivery of CAG in less than four months. Initially, the team had problem when the client changed the priority of deliverables. Though, this had put a lot of pressure on the initial deliverables, but mutual understanding between the onsite and offshore teams made it successful.

Results

The results are multi faceted with the client being added to CSC’s list of highly satisfied customers. Susan Hunter, vice-president, CSC BPO says, “All of the BPO management team appreciates the efforts that the team put forth to provide our client with this advanced processing.” With this project, CSC has got exposure and experience of yet another special line of business, CAG. The success of the project has helped us identify and enhance our overall delivery process.

This is truly a demonstration of CSC’s ability to utilise its talented resource pool spread across the globe thereby enhancing the value delivered to its global customers.