Published on the 18/12/2013 | Written by Newsdesk
The New Zealand insurance company gets with the programme, updating its core platform to enable multi-channel customer service…
IAG’s subsidiary AMI has successfully implemented new policy administration, billing and claims solutions for its motor vehicle lines of business.
It decided to replace its existing systems because they were no longer cost-effective and were prohibiting the business from responding to customer needs. AMI recognised that its core enterprise systems needed to be modernised in order for it to be able to deliver the high levels of service it promises its customers.
Allan Dornan, COO of IAG explained: “Our existing legacy system, built 30 years ago, has become cost prohibitive to maintain and is not capable of supporting current and future business needs, such as a multi-channel customer experience that includes online and mobile self-service.”
AMI launched 23 classes of motor insurance on the Exigen platform by Exigen Insurance Solutions, including private vehicle, commercial vehicle, motorcycle, motorhome and caravan. This initial deployment is the first stage introduction of a new enterprise platform for managing AMI’s more than one million motor, home, contents, farm and boat insurance policies.
Exigen Insurance Solutions had been a strong AMI partner in the past, working with it through a project heavily affected by the Christchurch earthquake (where AMI was headquartered) and the subsequent sale of AMI to IAG and regulatory overhaul of property insurance in New Zealand.
This made it a natural partner for the modernisation project in which it replaced the in-house built legacy core systems with a new modern framework. The Exigen Suite component solutions (PolicyCore, BillingCore and ClaimCore) were deployed in an enterprise package that also included product development, distribution management, rating, underwriting, business intelligence and reporting, customer relationship management, business process management (BPM), document generation, and content management.
“The key features of the Exigen system driving benefit for us are the customer-centric design and the modern, highly-configurable and flexible architecture. Configurability allows us to bring new offerings to the market more quickly. The workflow, work management and integrated nature of the system deliver significant efficiency. In addition, the use of quality, inexpensive commodity hardware versus older proprietary mainframe technology is a substantial cost benefit,” said Dornan.
“We are very pleased with the results of the roll-out of our auto product. The new platform will enable AMI to quickly and cost-efficiently introduce new products and provide a better customer experience that makes it easier for customers to interact with us using the channels they prefer,” he concluded.
“For the Exigen team there is special satisfaction in seeing AMI successfully launch its new core systems platform. It is testimony to the resilience and determination of AMI staff and leadership to prevail in the wake of a devastating natural disaster. It is an inspiration to us,” said Alec Miloslavsky, executive chairman and CEO of Exigen. “We are looking forward to helping AMI continue its modernisation and strengthen its position as a leading brand.”
