S u c c e ss S t o r y
Farmers Alliance Mutual
Insurance (FAMI)
Go-live:
Initiative leaders:
Andy Edwardson, CIO and Vice President,
Information Technology
John Foster, VP of Claims
December 2008
John Foster
About FAMI:
Farmers Alliance Mutual Insurance Company, Alliance Insurance
Company, Inc. and Alliance Indemnity Company are the three
regional companies that comprise FAMI. Those companies provide
property and casualty insurance for homes, autos, businesses and
farms. Represented by more than 650 independent insurance
agencies across a nine-state region, the Farmers Alliance
Companies writes more than $125 million in premiums annually.
Implementation story:
With up to 300 new claims needing to be handled each day, FAMI
made a commitment to transform its claims processing function.
The technology modernization initiative, named the “iFAMI”
project, consists of a multiphased approach. Beginning with its
Businessowners Policies (BOP) and followed by Commercial,
Personal and Farm lines, FAMI replaced its legacy systems with
modern technology solutions that enable the company to be
more nimble and responsive.
VP of Claims
“
Our implementation
of BlueWave Claims
has helped Farmers
Alliance realize
eƒficiencies, conclude
claims faster, exceed
company goals and
improve on customer
expectations as well.
”
Results:
•Faster conclusions to claims
•Exceeding customer expectations from quicker
and better response to customer inquiries
•Increased productivity from internal and external
adjusters’ ability to log in from the web
•Decrease in training time for internal and
external adjusters
•Administrative cost savings from elimination of
redundant data entry and manual processing
•Improved financial reporting accuracy due to
immediate posting of new losses
•Easier integration of claims with other FAMI systems
•Reduced system maintenance cost
Awards:
•Celent Model Carrier of the Year (2009)
•John Foster, VP of Claims, Claims Professional of the Year by Claims Magazine (2009)
•Andy Edwardson, CIO, Insurance & Technology’s Elite 8 award (2009)
www.cover-all.com
NEW JERSEY
412 Mt. Kemble Avenue,
Suite 110C
Morristown, NJ 07960
PH: (973) 461-5200
NEW YORK
317 Madison Avenue,
Suite B
New York, New York 10017
PH: (917) 484-4960
HAWAII
1600 Kapiolani Boulevard,
Suite 616
Honolulu, HI 96814
PH: (808) 675-2100
S u c c e ss S t o r y
Narragansett Bay Insurance
Company (NBIC)
Initiative leaders:
Mike Anselmo, Chief Information Officer
Go-live:
August 2010
Bob Khosropur, Chief Claims Officer
About NBIC:
Mike Anselmo
Headquartered in Rhode Island, NBIC offers specialty insurance products and
services to homeowners through a select network of independent agents along
the Eastern seaboard.
Implementation story:
The company embarked on Project APEX in 2009 in order to modernize their inhouse legacy systems and establish a highly-advanced, flexible and nimble
technology environment that would enable NBIC to deliver exceptional client
services, platform scalability, business alignment and the product agility needed
to transform the homeowners’ insurance marketplace. All systems selected
as a part of Project APEX were specifically chosen for their flexible, modern
architecture. The project consists of a multi-phased implementation with a bestof-breed approach.
With legacy systems currently handling various aspects of claims transactions,
NBIC’s goal was to establish a highly advanced, flexible and nimble technology
environment. NBIC’s requirements for a new claims system dictated the selected
solution would be web-based, highly-customizable and able to improve claims
turnaround time.
Cover-All Technologies’ BlueWave Claims was brought in when the Project APEX
team at NBIC identified, and then selected, a system to consolidate IT processes
and create more fluid claims management. NBIC’s requirements for a new claims
system dictated the selected solution would be web-based, highly-customizable
and able to improve claims turnaround time, all traits inherent to BlueWave Claims.
Additionally, NBIC wanted the new solution to be responsive enough to handle
the company’s current claims volume while also capturing all the data vital to
increasing claim efficiency and underwriting better business.
Chief Information Officer
The team has
“been
exceptional
to work with, and
BlueWave Claims
has provided
NBIC with the
cutting-edge
technology we
need to meet our
company goals.
”
Insurance Company
Results:
• Projected reduction of new adjuster training from one
to two weeks to less than four hours
• Employee/staff satisfaction due to ease of use with
intuitive work flow
• Projected reduction in system administrative time to
add/update user permissions by about 20%
• Increased system extensibility through configuration
and customization to modify and update the system
to adapt to ever-changing business needs including
the addition of new data elements, updating business
rules, modifying code lists, adding new correspondence
templates, etc.
• Projected overall reduction in cost to maintain the claims
component of the system including maintenance and
any additional services by about 20%
• Increased chances of fraud and subrogation recognition
• Faster and better quality claim handling
Awards:
• Modern technology and flexible interfaces allows for
extensibility and integration with other systems as NBIC
continues to grow
• Best Review Innovators Showcase (2013)
• Celent Model Carrier (2011)
• Mike Anselmo, CIO, Insurance IT All-Star by Tech Decisions (2010)
• Bob Khosropur, Chief Claims Officer, Claims Professional of the Year by Claims Magazine (2011)
www.cover-all.com
NEW JERSEY
412 Mt. Kemble Avenue,
Suite 110C
Morristown, NJ 07960
PH: (973) 461-5200
NEW YORK
317 Madison Avenue,
Suite B
New York, New York 10017
PH: (917) 484-4960
HAWAII
1600 Kapiolani Boulevard,
Suite 616
Honolulu, HI 96814
PH: (808) 675-2100