San Jose, CA – June 13, 2013 – ISCS is pleased to announce that The Philadelphia Contributionship, the oldest successful property and casualty insurance organization in America, founded by Benjamin Franklin in 1752, has selected ISCS’s SurePower Innovation® Policy Administration Suite, the property/casualty insurance industry’s modern, field-proven, insurance processing solution, to modernize the company’s policy administration, claims and billing processes, as well as provide data marts, agent and consumer self-service portals and other business capabilities.
Located in Philadelphia, PA, The Philadelphia Contributionship is a group of regional insurance carriers that focuses on providing personal property and related liability coverages in Pennsylvania, New Jersey, and Delaware. In 2012, the company wrote approximately $129 million of direct written premium. The Philadelphia Contributionship recognized the need to strategically transform the company’s IT platform as a tool to enhance the ease of doing business with agents and policyholders, improve productivity, and enable strategic growth through diversification. The company set out to find a core systems solution that could meet the high expectations of producers and insureds for service and information access, while providing internal process efficiencies and continual upgrades as technology advances.
During a thorough selection process, The Philadelphia Contributionship utilized a nationally known consulting firm to assist with the evaluation of a number of vendors. That evaluation included extensive guided demonstrations with the top choices, ultimately leading to the identification of the best-fitting candidate.
Robert G. Whitlock, Jr., FCAS, MAAA, President and CEO of The Philadelphia Contributionship, said he was impressed by ISCS’s product, its insurance knowledge and the depth of talent at ISCS, which was confirmed in a site visit to ISCS’s San Jose, California, headquarters.
Whitlock said the selection process changed their initial impression that they needed a multiple vendor “best-of-breed” solution to the view that mature enterprise solutions that deliver outstanding functionality with a coordinated service approach to agents and policyholders are now available.
“We also wanted to gain confidence in the vendor’s implementation approach,” said Whitlock. “ISCS has a proven track record of successful implementations and uses an impressive methodology for getting their clients live on systems. We appreciated how ISCS set realistic expectations that substantial efforts by both us and ISCS would be needed, no matter how great the technology.” Both ISCS and The Philadelphia Contributionship agree that a successful project depends on developing a successful partnership.
“We are honored for ISCS to be chosen by the oldest American property insurer. It impresses me that The Philadelphia Contributionship was the first insurer to use cutting-edge technology to improve its results, when its director Benjamin Franklin invented the lightning rod to reduce structure fires.” said Andy Scurto, president of ISCS. “We pride ourselves on providing innovative technology, and keeping Franklin in mind as the highest example of American ingenuity provides us extra motivation to add to The Philadelphia Contributionship’s next successful chapter in history.”
P&C carriers and MGAs rely on the modular, Web and SOA–based SurePower Innovation Policy Administration Suite to perform critical business processes for commercial, personal and specialty lines of business. These include underwriting automation, policy and claims management, integrated reinsurance, integrated billing and much more. The system provides integrated document management, a rules-based data warehouse, and document imaging client tool for bulk indexing and LDAP-standards security. With modern highly scalable, extensible, and configurable technology, SurePower Innovation enables insurers of all sizes to meet today’s market requirement for business agility. SurePower Innovation Policy Administration Suite is a company-wide, strategic choice for carriers to both retain customers and increase their book of business. For more information contact Phil Kiekhaefer, Ph.D., Director of Marketing & Usability for ISCS, at 1-888-901-ISCS, [email protected], or visit www.iscs.com.
About The Philadelphia Contributionship (TPC)
In 1752, Benjamin Franklin and his colleagues founded The Philadelphia Contributionship to provide fire insurance protection to the urban community. More than 250 years later we continue that mission, with the support of our policyholders and more than 250 independent agent partners. Our legacy of financial strength includes an A.M. Best Rating of A+ (Superior) and an A Rating (Excellent) or higher since 1922—a track record that sets us apart in our industry. The Philadelphia Contributionship Mutual Holding Co., includes TPC Holdings, Inc., The Philadelphia Contributionship for the Insurance of Houses from Loss by Fire, Inc., The Philadelphia Contributionship Insurance Company, Germantown Insurance Company, and Vector Security. For more information about TPC, please visit the company website at www.contributionship.com.
St. Nick Media Services