The Challenge

Our client, a prominent player in the US commercial trucking insurance sector, was navigating a significant operational hurdle. Despite their strong market position, they lacked a centralised system to manage the entire policy lifecycle. This meant that crucial processes, from initial quotes to final policy issuance, were fragmented and often manual. Our client’s sales journey was heavily reliant on PDF forms, which not only led to inefficiencies and the potential for errors but also resulted in a disconnected experience for both their brokers and, ultimately, their customers.

The Solution

The objective was clear: to build a centralised insurance platform that empowers their brokers to seamlessly submit quotes, adjust policies, bind, generate documents, cancel, endorse, and manage claims, all within a single, intuitive environment. Equally vital, the platform empowers underwriters to seamlessly review, quote, bind, and archive essential policy information within a unified, intelligent system – streamlining workflows, enhancing accuracy, and driving strategic growth. tigerlab’s approach is collaborative and client-centric. An expert team diligently analysed the existing system, identifying bottlenecks and designing a comprehensive digital solution. Key features of the new platform included:

• A robust sales journey designed for efficient input of policy information, automated document submission for underwriting, clear carrier selection for each coverage, and precise premium calculation. This replaced the previous PDF-based sales journey with a proper, digital workflow in the platform.

• Comprehensive policy management capabilities covering quotation, policy creation, cancellation, reinstatement, and endorsement.

• Strategic integration with an API to a VIN decoder, we automatically extract accurate vehicle make, model, and year data from each VIN. Combined with Google’s Address Validation API, this dual-validation approach drastically improves data accuracy and accelerates processing time.

This solution wasn’t just about implementing new technology; it was about providing our client with a powerful tool that valued their time, improved efficiency, and ultimately enhanced their service delivery.

The Results

1. Accelerated Timelines: The critical quote-to-bind phase was successfully implemented in 14 weeks, with the development of cancellation, reinstatement and endorsement functionalities completed in an additional 8 weeks.

2. Enhanced Business Efficiency: Implemented automated pricing and product matching across a wide variety of events spanning multiple categories, from entertainment to travel, eliminating manual intervention for the majority of transactions.

3. Centralised Operations: The new system transformed their entire policy lifecycle management for commercial trucking insurance, consolidating numerous previously disparate processes.

4. Ongoing Partnership: We continue to collaborate closely, with additional phases planned for claims and renewals, ensuring continuous improvement and expanded capabilities.

Sales Journey Transformation: Old vs. New

Old Sales Journey (PDF): The previous manual sales journey relied on multi-page PDF forms for collecting policy and equipment/driver details.

New Sales Journey: The updated digital sales journey in the platform features streamlined input fields, including VIN-validated equipment and driver lists, significantly improving data capture and user experience.