QUEBEC CITY, Jan. 8, 2014 /CNW Telbec/ - Industrial Alliance Auto and Home Insurance (IAAH), and Exigen Insurance Solutions (EIS), a leading global provider of core systems and business transformation to insurers, today announced that Industrial Alliance will go live in early 2014 with its new EIS underwriting, policy administration, billing and claim management solutions for auto and homeowners and other personal lines of business for its operations in Quebec. The Exigen SuiteTM applications PolicyCoreTM, BillingCoreTM and ClaimCoreTM will provide Industrial Alliance an advanced, multi-line platform for growth that will improve operational efficiency, product distribution management and customer service.
"What EIS brings is a very comprehensive solution that allows us to undertake a full transformation of the way we do business," says Industrial Alliance's (IAAH) vice president, risk management, Sophie Duval. "Our customers will appreciate being able to conduct business with us in French and English via any channel in real time, be it phone, email or online self-service. Our staff will appreciate the end-to-end automation of everyday business processes that will save them time and reduce our operational costs. We see EIS' pre-integrated policy, billing and claims solution as an opportunity to raise productivity and efficiency levels simultaneously across the enterprise."
"This is a large systems implementation that is on track to deliver some significant increase of IT efficiency," said Pascal Lavoie, chief technology officer, Industrial Alliance (IAAH). "The configurability and flexibility of the EIS system will provide us greater elf-sufficiency than usually found on comparable systems. We have a very talented IT and business operations staff, and we want to be able to benefit from their ability to directly upgrade, develop and manage products and processes without always turning to a solution vendor's support staff. In addition, the EIS system replaces an aging legacy OS 400 system that is difficult and time-consuming to modify for new products or processes."
Industrial Alliance will roll out both home and auto products for new business initially. Simultaneously, three million account and customer records, policy headers and recent quotes for both home and auto will be migrated to the new system. Industrial Alliance will be able to manage marketing communications to the large contact database using Exigen Suite's new integrated CustomerCore TM module for customer relationship and communications management.
Exigen Suite will provide Industrial Alliance several business benefits, including:
- An integrated view of customer information across its core operations that improves customer service response and effectiveness
- A highly configurable tool to accelerate product development
- Self-service portals for customers and for agents
- On demand multi-lingual engagement of customers
- Automated underwriting capabilities that streamline new business and policy servicing processes
- An optimized claims handling system that eliminates many manual processes so that staff can focus on serving customers
- Business intelligence and monitoring tools that track all system activity to provide business performance benchmarking, reporting, dashboards and activity-based costing
"Helping Industrial Alliance with their transformation initiative is an exciting opportunity that has motivated both the EIS and Industrial Alliance teams in a strong and productive partnership," said Alec Miloslavsky, CEO and executive chairman, EIS. "When we have completed implementation, Industrial Alliance will achieve their goal of gaining unsurpassed business control of their core systems and effectively managing it as a multi-line platform for growth."
About Industrial Alliance
Founded in 1892, Industrial Alliance Insurance and Financial Services Inc. is a life and health insurance company with operations in all regions of Canada as well as in the United States. The Company offers a wide range of life and health insurance products, savings and retirement plans, RRSPs, mutual and segregated funds, securities, auto and home insurance, mortgage loans and other financial products and services for both individuals and groups. The fourth largest life and health insurance company in Canada, Industrial Alliance contributes to the financial wellbeing of over three million Canadians and employs more than 4,400 people. Following the acquisition of Jovian Capital Corporation on October 1, 2013, the company's assets under management and administration have now reached approximately $95 billion. Industrial Alliance stock is listed on the Toronto Stock Exchange under the ticker symbol IAG.
About Exigen Insurance Solutions
Exigen Insurance Solutions® (EIS) is a global provider of core systems and business transformation for insurers. EIS partners with clients to execute their transformation for revenue growth, cost efficiency, and market and channel expansion. EIS provides the Exigen Suite™ pre-integrated and cloud-ready solutions - PolicyCore™, BillingCore™ and ClaimCore™ - for policy administration, billing and claims management and specialized tools for transformation. Customers deploy our multi-line platform of pre-configured products to achieve rapid and scalable solution implementations. EIS is headquartered in San Francisco with offices in the USA, Canada, Europe, China, Japan and Australia.
SOURCE: Industrial Alliance Auto and Home Insurance
For further information:
Vice-President, Support and Governance
Industrial Alliance Auto and Home Insurance Inc.
Office: 418 650-4601, ext. 3024
Email: [email protected]