Modernizing a Legacy Quoting Application
To remain competitive, a Florida-based property and casualty insurance group decided to replace its binding and quoting application with a faster self-service platform for brokers. The insurance group’s previous application was developed in Java and RPG (AS/400), and it had massive back-end dependencies with a time-consuming quote generation process. Based on the success of previous engagements with AgileThought, the insurance group sought AgileThought’s expertise to design, develop and deliver a modern application for brokers that would expedite the quoting process while boosting the bottom line.
- Expediting the application evaluation process to eliminate wasted time, increase sales, and become more competitive in the property insurance space
- Bypassing database constraints and ensuring massive system dependencies — like payroll, accounting, etc. — could function without disrupting other business operations
- Reducing the risk of errors and delays due to manual payment processing, while enabling payment scheduling for all payment types — like electronic funds transfer (EFT), credit card, and government agency funds
Real-Time Responses with Instant Bottom-Line Impact
The new platform provides an immediate yes-or-no response to each question answered on the quote application, allowing brokers to identify disqualifications much earlier in the process. Previously, brokers would have to complete the entire application before getting a yesor-no response; this new platform shortened the “time to know” from 20 minutes to less than a minute. As a result, brokers saw an immediate revenue increase by serving more customers in a shorter timeframe.
Optimized IT Spend with APIs
With AS/400 continuing to drive the back-end, AgileThought implemented individual APIs to overcome AS/400’s constraints without having to migrate the entire database. This ensured that every mission-critical business function — from payment scheduling to accounting to payroll — could operate effectively without disrupting other areas of business or the front-end application process. Also, instead of making a hefty upfront investment, the APIs allowed the insurance group to maximize return on IT spend immediately while gradually migrating away from AS/400.
Greater Transparency into Finance & Operations
The addition of automated payment scheduling not only reduced payment errors and delays, but also helped centralize data and give transparency to transactional data and schedules. This new visibility allowed the insurance group to improve financial forecasting, work more effectively, and focus on more bottom-line initiatives.