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Kemper
Professional Liability Group
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Building
a Point-Of-Sale Rating System
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Client
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Kemper
Financial Protection's Professional Liability Group (Kemper) is a
leading Global 100 provider of property/casualty insurance and risk
management services in the U.S., with major partnerships in more than
120 nations. |
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Challenges
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Kemper's Professional Liability Group desired to quickly build a system
that could enable a profitable offering of specialty coverage to the
small business market. |
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Kemper required that they be able to service this market without jeopardizing
their existing distribution channel (the Insurance Agent) or dramatically
increasing their operational expenses. |
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Strategies
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Examine
Kemper's existing policy issuance process (e.g. roles, responsibilities,
hand-off points, documentation needed), seeking points of potential
automation to realize the greatest efficiencies.
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Build
a web-enabled, multi-line capable application that integrates with
Kemper's legacy mainframe based billing and statistical reporting
systems.
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Solutions
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Sengen
created a dynamic, data-driven Point-of-Sales (POS) system that
empowers Kemper Agents to:
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Evaluate risk level of potential policyholders. |
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Create and distribute quote letters with appropriate limits and deductibles
to either potential policyholders or current policyholders. |
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Acquire contingency information required for policy issuance. |
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Issue the policies (online via PDF) to qualified customers. |
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Issue mid-term endorsements, cancellations, reinstatements, rewrites,
and renewals (online via PDF). |
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The
POS system allows Kemper Underwriters and Actuaries to:
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Create an automated referral process that segments high risk clients
or policy seekers for review. |
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Exchange notes with Agents in real-time around the high risk client
or policy seeker and actions needed to allow Kemper to issue the policy.
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The
POS system allows Policy seekers to:
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Receive and review generated quote letters from the Kemper Agent via
the Internet. |
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Pick desired limits and deductibles and provide contingency information
requested for policy issuance. |
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Receive their completed, desired policy from the Agent through the
Internet. |
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The POS system was developed using Struts and reusable software components
(PDF Generator, XML-based Wizard Configurator, etc.) to build an open
standards based application, viz., J2EE, XML, XSL, FO, and is deployed
on WebSphere Application Server, Oracle8i, and Webthority. |
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Results
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Built
a POS system for Kemper that:
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Reduced manual input of data and paper exchanged by multiple parties,
increasing the accuracy of information and reducing the processing
costs. |
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Increased productivity of Underwriters by automatically segmenting
higher risk policy seekers to help ensure profitability of issued
policies. |
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Reduced the overall time and cost of issuing a new policy from four
weeks to three days. |
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Reduced the overall processing time and cost for performing mid-term
changes. |
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Empowered the Distribution Channel (Agencies) by giving them more
visibility and ownership of the underwriting process, while protecting
Kemper's proprietary underwriting methods. |
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Strengthened
Kemper's technology investment by building a component based platform
that provides the flexibility to adapt to future technology changes.
In addition, Kemper can reuse components to build similar applications
for other professional lines, such as architects & engineers, realtors,
and chiropractors.
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