SOURCE: Innovation Group

Innovation Group

June 03, 2015 11:15 ET

GuideOne Insurance Implements Innovation Group's Insurer Policy and Insurer Analytics

Successful Deployment Transforms Legacy Infrastructure and Enables Future Enterprise Growth

FARMINGTON, CT and WEST DES MOINES, IA--(Marketwired - Jun 3, 2015) - The Innovation Group plc (Innovation Group) and GuideOne Insurance (GuideOne), a niche insurer specializing in affordable coverage for churches, schools, home care providers, and senior living facilities, as well as auto and home owners, are pleased to announce the successful implementation of Insurer Policy and Insurer Analytics as part of a legacy transformation project which is already delivering a more streamlined new business process and better analytics enterprise-wide.

"By replacing outdated, legacy technology with modern core systems, GuideOne is increasing agent productivity through intuitive automation and ease of use," said Doug Cretsinger, SVP, Business Transformation and CIO for GuideOne. "With Innovation Group, GuideOne is transforming customer service standards, distribution channels and delivery models for our agents and policyholders. The future of insurance will be owned by those companies embracing change in the digital world and leveraging technology in ways that best meet our customers' needs."

Selected in July of 2013, Insurer Policy and Insurer Analytics were envisioned as the foundation of a collaborative project which would ultimately eliminate manual processes for agents and underwriters, while reducing risk and maximizing business value. Additional benefits of this implementation for GuideOne include:

  • A more modern look and feel for quotes, policies and endorsements which extends and enhances the GuideOne brand, and includes more information for improved communications and customer experience;
  • Policies produced in an indexed PDF format, making it easy for policyholders, agents, and adjusters to find specific sections within policies easily;
  • Improved data analytic capabilities which will lower loss ratios, saving $30 MM in 10 years;
  • The introduction of automated underwriting rules designed to provide increased consistency into the application of the rules, resulting in improved management of GuideOne's risks and loss ratios;
  • Improved data mining through the expanded use of predictive modeling in new lines, improving risk selection and pricing; and
  • Better reporting desired by A.M. Best and GuideOne's valued reinsurer partners.

"GuideOne fully embraced what Innovation Group can help them bring to the table in the future," said Euan King, CEO North America Insurer Software for Innovation Group. "In addition to Insurer Policy and Insurer Analytics, GuideOne will be utilizing Innovation Group's Insurer Rating, Insurer Billing, Insurer Portal, Insurer Reinsurance and Insurer Configurator components, which are included in the Insurer Policy implementation. Insurer Configurator will empower GuideOne's business and IT users to configure and manage their business including data, workflow, rules, forms, rates and screens while leveraging built-in best practices that together provide business agility and upgradeability."

GuideOne is looking forward to working with Innovation Group to increase speed-to-market through online quoting, improve straight-through processing (STP) via automated underwriting, capture new affinity business with improved functionality for agents, introduce flexible billing options for customers, and eliminate redundant data entry.

Doug Cretsinger will be joining a panel for session #571, "Maximizing Greenfield Value: Leveraging People, Core Systems and Analytics" at the 2015 IASA Annual Educational Conference and Business Show at Mandalay Bay in Las Vegas on Tuesday, June 9th at 1:30PM local time.

About The Innovation Group plc:
Innovation Group is a global provider of software-led solutions to insurers for more effective policy and claims management. With revenues of £209.8m in 2014, it employs over 2,800 people world-wide and works in 15 of the top 20 global insurance markets and with 16 of the top 20 global insurance companies. In every market, Innovation's technology empowers Insurers to deliver better, faster results, making us the global partner of choice for locally delivered insurance solutions. For more information about Innovation Group, please visit www.innovation-group.com.  

About GuideOne Insurance (GuideOne)
Founded in 1947 and headquartered in West Des Moines, Iowa, GuideOne Insurance is one of the nation's largest church insurers, with about 43,000 church policyholders. GuideOne also insures private schools and higher education institutions, as well as senior living communities. In 1999, the company created the GuideOne Center for Risk Management in order to help churches and faith-based organizations safeguard their ministries. This effort was expanded in 2008 with the launch of SafeChurch, the most comprehensive church risk management online resource available. GuideOne's personal lines products include auto and homeowners insurance. GuideOne is licensed to do business in all 50 states and markets its products and services through nearly 1,800 independent and career agents. The company carries an A "Excellent" rating from A.M. Best. For more information, visit GuideOne.com.

Contact Information

  • Enquiries:
    Company Contact:
    Euan King
    CEO
    North American Insurer Software
    Innovation Group
    Tel: 860.796.6702
    Email: kinge@us.innovation-group.com

    PR Agency Contact:
    Jennifer Overhulse
    Principal Owner
    St. Nick Media Services
    Tel: 859.803.6597
    Email:jen@stnickmedia.com