indicate the solutions each insurer will
consider,” Furtado says. “The number
of deals has gone up this year for suites
that include policy, billing, and claims
administration. Even if carriers won’t
implement all at the same time, they are
planning for modernization of all three
“By definition, smaller insurers are
typically challenged with fewer resources
in terms of budget or personnel. Fortu-
nately, you don’t need to buy ‘develop-
ment platforms’ any more. You can buy
a full-featured product that has prebuilt
processes and templates that you can use
with very little change,” Haner says.
In addition to the desire for an all-in-one solution, smaller carriers share
a common appetite for core features
in those solutions: efficiency gained
by rules-based processing; document
management and workflow; rating; business income and analytics; and mobile
capabilities top the list. In contrast, larger
carriers may put less importance on
several of those areas due to stand-alone
platforms or an existing best-in-breed
component selection strategy.
“Upmarket carriers will generally
already have a data warehouse strategy
and business intelligence solution in
place. They have business rules engines
and document management platforms.
Those items are more of a pain point
with smaller carriers,” Furtado says.
All-in-one was important to Dryden
Mutual Insurance Company. Its homegrown, FoxPro-based policy admin platform hadn’t been significantly updated
since its development in the 1980s.
“When Microsoft ended support of
FoxPro [in 2007], our shelf life was coming to an end,” says Peter Thorp, senior
vice president and marketing manager
for Dryden Mutual. He oversees the IT
operations of the carrier, which wrote
just over $56 million in written premium
in 2014 primarily insuring small commercial lines accounts.
The insurer began a modernization
project in 2008, but abandoned that
effort when the vendor they selected-
went out of business. In 2011, Dryden
revisited the effort.
“We really needed a modern, stable
environment. Our expansion capabilities
were limited not only because FoxPro
was being sunsetted, but also because
we didn’t have the staff to build out the
system any longer. It was a manually
intensive system, with no real ability to
automate processes and no easy way to
provide functionality to agents and poli-
cyholders that they desired,” Thorp says.
The company chose ISCS’s Sure-
Power Innovation platform for its ability
to deliver core functionality of policy,
claims, and billing administration as
well as extended capabilities such as
document management, accounting, and
agent/customer portals. “We wanted a
comprehensive suite,” Thorp says. “We
didn’t want to take the risk of buying
best-of-breed components and rely on
others to integrate them.”
Dryden completed a two-year im-
plementation of the SurePower system
and went live for new business in 2014.
Existing business will migrate to the
new platform as policies renew, and all
commercial lines are expected to be on
the platform in 2015. The insurer will
convert personal lines thereafter.
The impact of modernization was
immediately apparent: 200,000 trans-
actions a year that previously were
processed manually are now automat-
ically handled by the system. “Quoting
has become easier. It’s easier to get a
complete picture of a customer and
provide service to customers and agents.
A modern interface has made data entry
easier,” Thorp says.
Dryden targets a 90 percent automat-
ed pass-through rate on both new busi-
ness and renewals. Because underwriters
are taking a last look at the company’s
“Upmarket carriers generally have a
data warehouse strategy and business
intelligence solution in place. They have
business-rules engines and document-
management platforms. Those items
are more of a pain point with smaller
Karen Furtado, SMA