In the document automation category, Celent recognized FBL Financial Group Inc. (FBL), a West Des Moines, Iowa company that underwrites, markets and distributes life insurance, annuities and mutual funds to individuals and small businesses, for its policy document management initiative.
Using Skywire Software’s Documaker customer communications management (CCM) suite, FBL was able to improve time to market by 25%, cut the load time for new policy documents from months to days and reduced document creation staff by one-quarter, the company says.
Insurance House, a Marietta, Ga., managing general agency that provides personal and commercial lines products, was recognized in the category of infrastructure and architecture for its enterprise data model and warehouse project. The insurer is using Skywire Software’s INSsight data warehouse to provide analysis tools around policy and claims. In this example, internal reports and product design analytics are now produced in near-real time, and reduced integration costs have allowed the insurer to reduce IT head count by half.
In the policy administration category, Celent honored Assumption Life, a Moncton, New Brunswick life insurer for its straight-through processing initiative. Assumption Life is using CCM software from Skywire Software to produce agent commission reports, and nearly all customer-facing documents. According to Skywire, the carrier’s e-application system has tripled the number of policy applications processed, reduced policy issuance time to an average of 24 to 48 hours and increased the frequency of agent commission payments from twice a month to twice a week.
Source: Skywire Software
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