QUEBEC CITY, June 3, 2014 /CNW Telbec/ - Industrial Alliance Auto and Home Insurance (IAAH), and Exigen Insurance Solutions (EIS), a global provider of core systems to insurers, today announced that Industrial Alliance has successfully deployed Exigen Suite TM as its new underwriting, policy administration, billing, claim and customer management platform for auto and homeowners and other personal lines of business for its operations in Quebec.
Industrial Alliance deployed Exigen Suite TM as the cornerstone of a technology transformation focused on quickly developing and introducing new products to its expanding distribution network and implementing multi-channel customer service. The company also wanted to simplify its operational processes and IT architecture and decrease operational costs.
"To accomplish a legacy system replacement of this size in just two years is an outstanding achievement," said Industrial Alliance (IAAH) vice-president, support and governance, Sophie Duval. "The keys to success have been the comprehensive business capabilities and flexible design of Exigen Suite and the dedication of the implementation team. We are seeing significant benefits in terms of product agility in a very competitive market, staff and agent productivity and effectiveness, and superior customer service. We believe our selection and deployment of Exigen Suite positions us well for immediate growth and for future opportunities as customer needs and market conditions change."
The new platform is currently in production for new business for nine auto and six home insurance products. Additional personal lines roll-outs will follow. In addition, 1.8 million account and customer records and 300k policy headers were migrated to the new system to allow for easy conversion of existing policy holders upon policy renewal. The conversion of the large number of customer records enables Industrial Alliance (IAAH) to effectively manage customer information and communications for both new and existing customers within one system using Exigen Suite's CustomerCore TM solution for customer relationship and communications management.
"We are very pleased with the results of our new core systems roll-out," said Pascal Lavoie, chief technology officer, Industrial Alliance (IAAH). "Our existing OS 400 legacy system was not capable of supporting current and future business needs, such as a multi-channel customer experience. Exigen Suite's customer-centric design and the modern, highly-configurable and flexible architecture are key benefits. The workflow, work management and integrated nature of the end-to-end system deliver significant efficiency. The platform has already proven very resilient to taking software upgrades and great care was taken in the implementation to optimize it for self-sufficiency with an eye to lowering cost of ownership."
"We congratulate Industrial Alliance for this successful roll-out. Throughout the project we have admired and been pleased to support its dedication to improving insurance operations through technology modernization that puts the customer first," said Alec Miloslavsky, executive chairman and CEO, EIS. "We look forward to continuing to support Industrial Alliance's goal of achieving business control of their core systems platform and effectively managing it as a multi-line platform for growth."
About Industrial Alliance
Founded in 1892, Industrial Alliance Insurance and Financial Services Inc. operates throughout Canada as well as in the United States. The Company offers life and health insurance products, mutual and segregated funds, savings and retirement plans, securities, auto and home insurance, mortgage and car loans and other financial products and services for both individuals and groups. Ranked among the top four life and health insurance companies in Canada, Industrial Alliance is one of Canada's largest public companies and trades on the Toronto Stock Exchange under the ticker symbol IAG.
About Exigen Insurance Solutions
Exigen Insurance Solutions® (EIS), a global provider of insurance core systems, provides capabilities to insurers that enable growth and help them meet their goals for operational and cost efficiency. Customers deploy our multi-line platform to achieve rapid and scalable solution implementations. The Exigen Suite™ component solutions - PolicyCore™, BillingCore™, ClaimCore™ and CustomerCore™ - offer the industry's most complete end-to-end capabilities, including rating, underwriting, policy administration, claims, billing, distribution management and CRM. EIS is headquartered in San Francisco with offices in the USA, Canada, Europe, China, Japan, Australia and New Zealand. Visit exigeninsurance.com.
SOURCE: Industrial Alliance Insurance and Financial Services Inc.
For further information:
Vice-president, Support and Governance
Industrial Alliance Auto and Home Insurance Inc.
Telephone : 418-650-4601, extension 3024