IT transformation and modernization to increase business agility and speed-to-market for large US-based Property & Casualty (P&C) Insurance Group.
Vermont Mutual needed to standardize their policy underwriting systems to enable agents to better serve their customers. Focused on driving the organization’s business transformation initiatives to improve operational efficiencies within the core processes across the line of product offerings. Their existing legacy technology stack was not flexible enough to adapt new business models & enterprise wide change management. The business stakeholders at Vermont Mutual wanted to create an agile environment to move things faster & reduce operational cost with automation.
- Migrate all functionality from the legacy system for Quote & App in multiple products (Homeowners, Personal Auto, Dwelling & Fire and Inquiry).
- Replace current Bridging/Real time Rating Interface with modern technology stack & API lead microservices architecture.
- Integrate with Guidewire (InsuranceNow) Policy Admin System for Rating & Underwriting activities.
- Persistent provided the key Core IT Modernization program initiatives
- Design of Enterprise Database
- Modernizing the customer/user experience leveraging Design Thinking approach & Persistent’s proprietary Digital Greenhouse framework
- Quote Creation
- Premium Calculation
- Application Submission
- Policy Inquiry
- Persistent also recommended & implemented the cloud strategy and migration implementation.