AA Underwriting is the winner of the Legacy and Ecosystem Transformation Celent Model Insurer Award following their ICE Insurance Suite implementation.
The Celent Model Insurer is awarded to those exceeding in best practices of technology usage in different areas critical to success in insurance. ICE InsureTech are delighted to announce that our client, AA Underwriting, is the winner in the Legacy and Ecosystem Transformation category.
This award highlights the phenomenal success achieved by AA Underwriting & ICE Insurance Suite implementation with two focussed businesses, working collaboratively, to achieve transformation and innovation in a tight timescale. This is fantastic news for both AA Underwriting and ICE InsureTech - this is our second client who has successfully won a Celent Model Insurer Award (ERS Legacy & Ecosystem Transformation).
Having identified the need to replace its legacy system, AA Underwriting completed a major business transformation replacing the system with the ICE Insurance Suite. The implementation included the migration of all new and existing policies and claims, all completed within the targeted 9 month timeline.
AA Underwriting’s strong motor experience, combined with ICE’s wealth of expertise in implementation, enabled both teams to deliver the legacy transformation project with benefits achieved for their business, including:
- 38% reduction in the length of the FNOL cycle
- 20% staff productivity improvements
- 275% claims fraud management improvement
- Automation of processes accelerating operational performance
- Claims cost savings including counter-fraud savings
- Enhanced integration capability with over 20 successful integrations
Following this project, AA Underwriting made the business decision to expand ICE into their Accident Assist service resulting in another successful implementation project and long-term business partnership.
Craig Staniland, Executive Chairman, The AA Underwriting Insurance Co, “We are honoured to be a Celent Model Insurer following our transformation project with ICE. This project was the first time our Insurance business has achieved its claims efficiency objectives through the significant claims operational efficiencies, lowered claims costs and reduced claims durations.”
Andrew Passfield, CEO ICE InsureTech, “This is fantastic recognition of both teams working collaboratively and flexibly to deliver a solution that equipped the AA Insurer business with the tools to self-manage the solution moving forward. We are delighted to have two of our clients as Celent Model Insurers following their ICE implementations - with ICE you can be certain of digital transformation whilst knowing your legacy migration is in very capable hands.”
Keith Raymond Senior Research Analyst with Celent’s Insurance practice, “Celent’s legacy and ecosystem transformation Model Insurer category celebrates insurers that not only modernize, but also transform their internal systems. The AA & ICE Claims and Policy transformation demonstrates how one business coupled with the right partner can complete a significant business transformation by replacing its legacy system. They addressed many common legacy challenges that insurers face today resulting in significant benefit through increased automation