Tconnect Provides End-to-end Policy Lifecycle Management via the Cloud
Described as a “cross-functional, cloud-based platform to consolidate processes and automate the end-to-end lifecycle of a policy,” Tconnect promises numerous benefits for customers and Tysers employees:
- Tysers’ clients benefit from a more efficient, accurate, and faster service because Tconnect seamlessly links its back- and front-office functions. The average time to resolve customer queries has fallen 60 percent, from 15 days to six.
- Tysers’ employees benefit from a modernized, easy-to-use front end, and they no longer need to use slow and cumbersome legacy software. Workflow task routing and automation have removed multiple manual steps, making work easier and more productive.
- Tysers’ management benefits from centralized governance and valuable management information.
“We’ve made extensive use of OutSystems business process technology,” says Angus. “Tconnect gives us end-to-end visibility of what’s happening throughout the lifecycle of a policy, which is a leap forward compared to old manual processes that caused performance black holes for the business.”
The overarching goal is to enable scalable growth. “Standard processes provide a basis for continuous improvement and growth,” says Angus. “Tconnect means Tysers can scale its operations with quality, efficiency, and customer satisfaction, all moving in the right direction. Low-code didn’t just mean we got to this point faster. Speed gave us permission to experiment. If we’d not had OutSystems, the project would probably never have got off the ground.”
Tysers estimates that it has already achieved a five percent efficiency saving in its broking operations team, saving 200 staff a total of 400 hours per week through streamlined processes.
Future-proof Digital Innovation
Two perspectives on how Tysers digital self-sufficiency helps to future-proof the business come from its senior managers:
Moreover, commenting on how self-sufficiency and using OutSystems has changed his work since 2019, Angus says, “I spend much less time dealing with suppliers and RFPs, and more time managing innovation. With OutSystems, when the business brings us new requirements, I can say ‘Yes’ much more often, and more quickly.”
An example of Tysers’ increased innovation capacity is a solution for real-time shipping risk pricing, which the company is launching. “We’ve served many of the world’s largest shipowners for decades,” explains Angus. “We expect to revolutionize how war risk shipping insurance is priced and sold, with innovative technology that incorporates real-time satellite ship location tracking. We’ll be able to dynamically price premiums that reflect real rather than assumed risk.”
Tysers plans to broaden this new proposition to cover other risk classes, such as shipping containers and trucks, and the insurer intends to white-label the product to broaden its market reach.
Over and beyond strategic projects such as Tconnect and real-time shipping insurance, Tysers’ OutSystems team has delivered numerous other applications. These include:
- Encore specialist theatre insurance—online quotes and customer onboarding.
- Wholesale cyber insurance—enabling online quote and bind for a wholesale client.
- Gifts and Entertainment: a mobile app that helps ensure employees comply with Tysers’ FCA gifts and entertainment regulations.
- Client portal—secure file upload and messaging portal for Tysers’ clients.
- Cargo certs: online provision of cargo certificates to clients.
- Governance portal: real-time integration to D&B for sanctions checking of clients.
- Various RPA companion apps and integration helper apps.