The Challenge
The Solution
TRANSFORMED 13-STEP MANUAL BUSINESS INTAKE PROCESS TO 100% AUTOMATED
TRIPLED BUSINESS IN SIX YEARS
EXPANDED PRODUCT OFFERINGS FROM 1 TO 8 BRANDS, ACROSS 3 PRODUCT LINES PROVIDING 50+ PRODUCTS
„InsuranceSuite on Guidewire Cloud enables us to be quick, efficient, and responsive, and to give the best customer service we can. Instead of focusing on manual processing tasks, we can focus more on proactive, strategic customer management.”
Adrian Thompson, COO
Aioi Nissay Dowa
Aioi Nissay Dowa Management New Zealand (Aioi NZ) — a member of Japan-based MS&AD Insurance Group Holdings Inc. that partners with companies like Toyota to help drivers obtain coverage — offers a variety of products and services designed to enable safety and peace of mind for its customers, no matter what happens.
“We create value for our customers by offering products and services that either reduce risk or completely remove the risk from ever occurring,” said Simone Labady, CEO. “And if a risk actually does occur, we help them in terms of their financial and economic burden.”
As a forward-looking insurance company, Aioi NZ recognized a need to evolve its business to keep up with market trends and expand product lines. But the company was running on a legacy system that lacked flexibility.
To boost security, flexibility, and business process optimization, Aioi NZ replaced its outdated legacy system with Guidewire InsuranceSuite on Guidewire Cloud for its domestic motor, commercial motor, and payment protection lines of business.
CEO Simone Labady explains the front-end process improvements the insurer has seen since its on-time, on-budget implementation of Guidewire InsuranceSuite on Guidewire Cloud.
Aioi NZ enlisted New Zealand–based Tenzing, a Guidewire PartnerConnect Consulting partner, and together, the team accomplished the project ahead of schedule and on budget.
Aioi NZ has already started to realize the benefits of InsuranceSuite on Guidewire Cloud, starting with the internal response. “Everything from managing claims to adding new policies is easier and much more logical — everything is streamlined,” said Aaron Martin, IT Manager.
Aioi NZ also knew there were meaningful insights that they could deliver to the business, but experienced difficulty tapping into existing data platforms. As a Guidewire Early Access customer working with the Data Studio solution, the insurer resolved the challenges and can access data to provide meaningful insights through a friendly user interface for business leaders via Explore.
“Guidewire is a brilliant partner,” said Labady. “The team listens to our problems and finds the best solutions so we can continue to provide exceptional service to our customers.”
Through the automation capabilities of PolicyCenter on Guidewire Cloud, the insurer has seen 25% more efficiency and productivity.
Adrian Thompson, COO, also recognizes the improved experiences for policyholders. “When a customer has an actual claim, we want to deliver the best possible experience we can,” he said. “InsuranceSuite on Guidewire Cloud enables us to be quick, efficient, and responsive, and to give the best customer service we can. Instead of focusing on manual processing tasks, we can focus more on proactive, strategic customer management.
“We’re already seeing that the automation for new business intake has been cut from 13 manual steps to get active and live in our system down to zero,” Thompson continued. “We’re doing no steps, which means I can take in about double the business without growing my policy team at all.”
This insurer cut the first notice of loss time in half, ultimately improving the claim experience for customers.
The insurer also experienced the speed and agility that Guidewire Cloud Platform provides. Mid-implementation of the Banff release of InsuranceSuite, Aioi NZ was able to update to the Cortina release in just five days.
“The platform Guidewire built unlocks potential for us in the future”, concluded Labady. We know that they’re going to stay ahead of the curve in terms of changing demands, particularly from customers.”
Expanding product offerings and automating new business intake is already enabling growth for the insurer.
