By a News Reporter-Staff News Editor at Insurance Weekly News -- IAG and Exigen Insurance Solutions®, a global provider of core systems and business transformation to insurers, announced the successful country-wide roll out of Exigen's policy administration, billing and claims solutions for motor vehicle lines of business at IAG subsidiary AMI. The 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.
"We are very pleased with the results of the roll-out of our auto product. The new system streamlines operations and removes manual processes, particularly in claims servicing. Platform performance and reliability has been flawless also," said Allan Dornan, COO of IAG. "Modernization of our core enterprise systems is vital to achieving the high levels of service we promise our customers. 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."
AMI launched 23 classes of motor insurance on the Exigen platform, including private vehicle, commercial vehicle, motorcycle, motorhome and caravan. The modernization project required replacement of in-house built legacy core systems and the installation of a modern framework. The Exigen Suite component solutions -- PolicyCore™, BillingCore™ and ClaimCore -- were deployed in an enterprise package that also includes product development, distribution management, rating, underwriting, business intelligence and reporting, customer relationship management, business process management (BPM), document generation, and content management.
"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," said Dornan. "Exigen has been a strong partner through a project heavily impacted 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."
"The key features of the Exigen system driving benefit for us are the customer-centric design and the modern, highly-configurable and flexible architecture," added Dornan. "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."
"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 modernization and strengthen its position as a leading brand."
Keywords for this news article include: Financial Services.
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