Case Studies - Policy Administration

Case Study - Member Insurance Agency

Problem:
When president and CEO, Wayne Fell, joined Member Insurance Agency, Inc. in 1998, he found a very "traditional operation" in that the McHenry, Illinois headquartered company was still doing everything internally and in much the same way it had since 1972. He also discovered that executives were spending 85 percent of each day performing administrative functions.

Fell set a goal to ensure that 80 percent of his and his management staff's day would be spent on "key areas of success -- retaining clients and writing new ones."

Solution:
Member outsourced commercial lines policy administration; premium audit services; and customer service functions to Trumbull. Member transitioned more than 6,000 insurance policies to Trumbull within four months, without any challenges. The benefits of outsourcing were "virtually immediate," he recalls, and all of the company's objectives were met.

Results:
Fell reports that the amount of time his management team now has to pursue Member's corporate goals is much more than initially expected. "Our outsourcing arrangement didn't go over well - it went over unbelievably well," says CEO Fell. The outsourcing success also transformed the company's management culture from one that disliked change to one where "everybody is now open to the best solution, not just the one they have a comfort level with."

Case Study - Regional Property and Casualty Carrier

Problem:
A regional property and casualty carrier specializing in personal lines and small commercial lines - offering BOP and Auto - decided that in order to meet their strategic objectives of growth and retention, the Workers Compensation line of business was required. They did not have the infrastructure or the business process knowledge to support the business within their company. The Worker Compensation business needs included quality bureau and statistical reporting, line specific claims handling expertise, a system to support policy issuance activities and premium audit. The options were simple, build an expensive in-house structure area or outsource these functions.

Solution:
Trumbull was the answer to these difficult issues. The combination of highly knowledgeable insurance staff, proven back room processes, and enabling technology were the key decision factors that set Trumbull apart from the rest of the marketplace. In addition, WCPOLS capability was delivered to support electronic reporting to bureaus. Trumbull has developed an interface back to this client's system in which a detailed record of all policy transactions will be transmitted. Acord's AL3 data standard used by the insurance industry to exchange information between systems was used as the basis for this interface. Finally, a new state was added and put into production.

Results:
This carrier now has a successful Workers Compensation product. This client has been a customer of Trumbull for over five years.