Published on 27-Dec-2010
Validated on 20 Dec 2012
"After IBM InfoSphere Federation Server was introduced, just one employee could easily compile an up-to-date integrated business intelligence report, a task that previously took a team of more than 10 employees." - CIO, major life insurance company
Enterprise Content Management
In the business world, becoming a market leader doesn’t happen overnight. But rules are meant to be broken. Founded in the Internet age, a young company is now poised to take the leadership position within its fast-growing regional insurance market. Today, the company ranks among the top 10 life insurance companies in its home country. Managing to offer quality service to more than 18 million policy holders while continuing to grow its business at up to 90 percent each year creates its own set of challenges.
With 32 branches and 250-plus subbranches, a major insurance company is embarking on management initiatives to gain more visibility into its fast-growing customer base while maintaining centralized and coordinated management control. These initiatives are creating new business opportunities but put a strain on the supporting business operations.
The insurer leveraged an IBM Insurance Industry Framework approach and implemented the key components within the framework solutions—including IBM® WebSphere® Portal, IBM InfoSphere™, Master Data Management Server and FileNet®. These capabilities allowed the company to attain a unified, 360-degree view of its customers and integration of its core business applications while centralizing and automating underwriting, auditing and data management tasks for improved information accessibility across its branches in different provinces.
· Improving cross-selling and up-selling through better information usage · Supporting up to 90 percent year-over-year growth efficiently and cost effectively · Enhancing management oversight and provincial branch coordination through streamlined operations and sharing of key data · Improving regulatory compliance through better data management
In the business world, becoming a market leader doesn’t happen overnight. But rules are meant to be broken. Founded in the Internet age, a young company is now poised to take the leadership position within its fast-growing regional insurance market. Today, the company ranks among the top 10 life insurance companies in its home country.
Managing to offer quality service to more than 18 million policy holders while continuing to grow its business at up to 90 percent each year creates its own set of challenges.
Leveraging the IBM Insurance Industry Framework approach that provided a platform based on the IBM capabilities to address specific business issues, this company implemented several key solutions from IBM over time with increase sophistication and reuse throughout its growth and progress.
Initially, the insurer enabled its phenomenal growth rate through implementation of a set of robust Internet capabilities. Through the capabilities of the IBM WebSphere Portal—an IBM Insurance Industry Framework solution—the insurance company extended its reach into desired market segments within in its region. This eCommerce initiative was a resounding success in fueling the growth for the company.
To keep pace with growth, the IT department was focused on designing and delivering information and business capabilities to its new offices. To do this, however, the company needed powerful data integration capabilities and Online Transactional Processing applications. Turning to IBM DB2® family of products and IBM Informix® Dynamic Server, The insurer Life was well equipped to access the information it needed to design the new applications it needed to sustain growth—and satisfied the information needs of its business teams.
As the company continued to grow, the insurer realized it could provide more services for its customers if its various information systems could talk to each other. By deploying IBM InfoSphere Federation Server, the company could now view its database solutions as a single resource, giving the insurer access to timely information that greatly improved its strategic business decisions.
Intelligence fuels growth
Not content to rest on its laurels, the insurance leader continued to look for ways to improve its business. This time, the company focused on a way to use its collected data to help its 320,000 insurance agents improve their sales strategies.
In order to provide agents with better sales tools and information, the insurer needed to get a complete and in-depth understanding of its customers. The company turned to other IBM Insurance Industry Framework solutions.
Including elements of IBM hardware and software portfolios, these framework solutions are packaged to enhance insurance industry processes such as claims management, policy administration, underwriting, new business processing, and self-service inquiry and payment through better customer information and greater visibility of the customers.
The insurer saw the solution as a logical next step, allowing the company to take advantage of its existing capabilities along with new packaged software and customized capabilities from the IBM Insurance Industry Framework approach.
That solution set included deploying IBM InfoSphere Master Data Management Server to bring its fragmented information together and allow employees to get a consolidated look at customer data. By allowing the organization to see a customer's complete relationship with the company, the insurer can ultimately deliver better service, improved customer satisfaction and better sales.
With IBM InfoSphere Master Data Management Server, the company could provide its agents with a 360-degree view of its customers in order to cross-sell and up-sell them. Now the insurer can tailor services specifically to customers’ pension, health, travel and life insurance needs.
Even though its sales are growing by up to 90 percent each year, the insurer’s staffing levels are not necessarily growing to match. How does a business sustain sales growth while keeping employee headcount relatively static? Innovations made possible by IBM FileNet Content Manager are part of the reason.
By creating an indexed, searchable repository for all of the insurer’s various file types and offering workflow and process automation capabilities to drive efficiencies for all content related tasks, FileNet Content Manager is helping agents find what they need faster and ultimately be more productive.
Mind over marketing
The biggest benefit of the IBM Insurance Industry Frameworks solutions may be the insurer’s new ability to further enhance its business capabilities with a common platform—now established through the previous initiatives. To maintain its competitive differentiator, the insurer can continue to understand its customers and design products to meet their needs, leveraging the existing installation of software while easily integrating new software and capabilities. An example of this is the insurer’s website, which offers industry-leading services in its regional insurance market.
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Products and services used
© Copyright IBM Corporation 2010 IBM Corporation Software Group Route 100 Somers, New York 10589 U.S.A. Produced in the United States of America June 2010 All Rights Reserved IBM, the IBM logo, ibm.com, DB2, FileNet, Informix, InfoSphere and WebSphere are registered trademarks of International Business Machines Corporation in the United States, other countries, or both. If these and other IBM trademarked terms are marked on their first occurrence in this information with a trademark symbol (® or ™), these symbols indicate U.S. registered or common law trademarks owned by IBM at the time this information was published. Such trademarks may also be registered or common law trademarks in other countries. A current list of IBM trademarks is available on the web at “Copyright and trademark information” at ibm.com/legal/copytrade.shtml . Other product, company or service names may be trademarks or service marks of others. This case study is an example of how one customer uses IBM products. There is no guarantee of comparable results. References in this publication to IBM products and services do not imply that IBM intends to make them available in all countries in which IBM operates. IMC14562-USEN-00