Below is the 10th of 11 Novarica Research Council Impact Award nominee case studies, which INN is presenting in no particular order. The awards will be presented at the research and advisory firm’s August 21st event in New York and honor best practices in insurance industry IT initiatives and strategy.
AIG built and implemented OneClaim, a global commercial claims system for its UK team, in 10 months, with a projected savings benefit of $108 million by 2013, escalating to $1.14 billion by the end of 2015.
The AIG team used agile development, enabling integration with legacy and external systems and allowing for parallel development and rollout in multiple countries. OneClaim includes FNOL, adjudication, financials processing and business activity management reporting. It’s integrated with policy data and financial systems, enabling the retirement of legacy systems. To develop the platform, AIG used a BPM platform from Pegasystems.
The team included nine from project management, 17 business analysts, 70 developers, 18 quality assurance analysts and 15 support staff. External staff from Pegasystems, Deloitte Consulting, Virtusa, and Cognizant also participated.
AIG measures the project’s success through the “iron triangle” of scope, schedule and cost, and by stakeholder and subject matter expert advocacy. However, the ultimate valuation has been in the reduction in indemnity paid and loss adjustment costs.
Novarica’s Take: “This was a hugely ambitious initiative to standardize the claims system across a global company. Tight project governance really made the difference in a project of this size, and the company is already citing benefits in the reduction of pure loss and loss adjustment costs.” — Karlyn Carnahan, principal, Novarica
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