Guardian Life Insurance Provides Customers With More Flexible Billing
Client:Guardian Life Insurance Company
- Enable new business growth by providing more effective billing options for customers
- CSC’s PB360° billing and payment solution for enterprise-wide business units
- Maximum flexibility for billing and payment options for Guardian worksite customers
- The ability to work with customers of all sizes with efficient payroll deduction billing and collection
- Faster time to market for a broader set of insurance offerings and flexible payroll file formats through the worksite program
In the wake of U.S. healthcare reform and the potential market erosion that comes with it, Guardian Life Insurance Company, a New York-based insurer with offerings ranging from life and disability income to workplace benefits, was looking for ways to strengthen its market position. Toward that end, the company embarked on a strategy to sell more product types (individual and group) through its growing worksite platform, which provides workplace benefits for businesses, such as dental, vision and 401(k) plans. Standing in the way of that growth, however, were the administrative difficulties faced by many of its business customers, such as the timely collection of premiums from their employees.
In response, the New York-based insurer — one of the oldest and largest in the United States — sought a technology solution that could handle both billing and collection administration functions while also providing worksite customers with a consolidated bill. To address concerns related to market erosion, the insurer also placed a priority on finding a solution with more flexibility to work with customers of all sizes, by offering a wider variety of insurance products in multiple lines of business.
To tackle these issues, Guardian deployed CSC’s Premium Billing 360 ̊ (PB360°) Software as a Service (SaaS), which is based on CSC’s Exceed® software. Deployed by a number of leading insurers in North America, PB360° provides end-to-end business process capabilities, application management and hosting services. Other essential features include forecasting and cash management through invoice reconciliation, payment receipt, accounts receivable management, and reporting and analytics.
John Furlong, Guardian’s vice president and chief information officer for group insurance, says PB360° reduces its customers’ administrative burdens. “We are using the CSC product to drastically decrease the complexity for employers, giving them the ability to focus on their business while we focus on ours,” he says.
The PB360° solution lets Guardian bring the full power of its products to the worksite marketplace. Keys to the success of the deployment were improved flexibility and consolidation of billing and payment functions. The solution enables Guardian’s customers to reconcile their bills themselves. And Guardian can now continue relationships with a group insured even after the insured leaves the employer organization.
“Ultimately, customers give us the marker of our success by awarding us new business. With CSC and enterprise billing and collection services, we’re able to win business that we could never have won before,” Furlong says.
The enterprise billing and collection system is one of the insurer’s most important initiatives because it allows Guardian to bring products from all of its divisions to the workplace for the first time. “We’re using SaaS to allow us to have quick delivery of new capabilities in an economical model that scales with the business,” Furlong says. “It has allowed us to transform not just the business, but IT itself.”
Guardian has completed a number of successful projects over the years of working with CSC, which has provided a variety of technology services such as software and maintenance, hosting and support for both business and technical implementation work. “We chose to work with CSC on this initiative because we knew they had the right technology, the right software solution — but equally important, we knew that they would deliver on time, on budget, as they always have for us,” Furlong says. With this initiative, he adds, “For the first time, CSC is more than a technology partner. It is a business partner.”
As the project began, CSC guided the discovery process by bringing all lines of business together to discuss goals and create an agile framework for enabling a successful business transformation. “By working with us in an agile way, CSC was able to modify the approach as we went forward,” Furlong says. “This allowed us to deliver maximum flexibility on requirements and maximum value on complex designs for our customers.”
Furlong says the SaaS approach allows Guardian to more quickly deliver new capabilities in an economical model that scales with the business. “CSC has been the catalyst behind that transformation,” he says. “With these new capabilities, we truly have an innovative product in the marketplace.”