The Department of the Treasury and the Internal Revenue Service released new guidance that is “designed to expand the use of income annuities in 401(k) plans.”
Exigen Suite™ is Helping Canadian Insurer to Grow with New Products, Improved Customer Service and Greater Efficiency
Quebec City, QC and San Francisco, CA – June 3, 2014 – Industrial Alliance Auto and Home Insurance (IAAH), and Exigen Insurance Solutions (EIS), a global provider of core systems to insurers, today announced that IAAH has successfully deployed Exigen Suite™ as its new underwriting, policy administration, billing, claims and customer management platform for auto, homeowners’ and other personal lines of business for the company’s operations in Quebec.
IAAH deployed Exigen Suite 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 IAAH vice-president and project sponsor 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 across 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 IAAH to effectively manage customer information and communications for both new and existing customers within one system using Exigen Suite’s CustomerCore™ 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 for 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.”
User experience and reaction has been very positive. According to Stéphanie Séguin, the first IAAH property and casualty (P&C) agent to sell a policy on the system, "It is easy to follow and use. It is very intuitive and fun; I think we finally arrived in the 21st century with this system. This is a plus for agents, for new employees coming into the business and for the company.”
“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.”
For more information about this release, please contact Kevin Haydon, marketing and communications director for EIS at 845-883-0579 or firstname.lastname@example.org.
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.
About Industrial Alliance Auto and Home (IAAH)
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.
St. Nick Media Services