Ask the Vendors: Best Practices, Partnering Strategies, and Other Lessons Learned

3 November 2011

CONFIDENTIAL | www.oliverwyman.com

2© 2011 Oliver Wyman www.oliverwyman.com

Company profile:► Dedicated to property & casualty segment of insurance industry► Solutions: Policy Administration: Quoting, Rating, Underwriting, CRM, Document

Management, Agency Management, Workflow, and Product Configuration► Services: Implementation, Integration, Consulting► Process commercial, personal, speciality lines in all 50 states

Insurance customer profile: ► All North American property and casualty carriers ► 35 active clients► 15% Tier 1, 55% Tier 2, 30% Tier 3

Client Value: Using AQS solutions and services enable our clients to more effectively compete in their chosen markets by providing them the ability to:

► get products to market faster and more economically► more effectively leverage ISO and other bureau content► improve distribution effectiveness and ease of use► reduce operational costs

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Case Study – General Casualty / AQS Relationship► Implemented commercial lines solution in 24 states

Implementation Relationship

► Desire to openly share challenges► Project sponsor commitment / active steering committee► Project mangers co-managed – everything was “we” ► Project charter clearly spelled out objectives (and it was used)► Commitment made project a win-win

On-going Relationship

► Track Record of success► Committed to nurturing► Consistent communication► Designated contacts

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Ernst & Young LLPInsurance Advisory Services

Ernst & Young is a recognized leader in providing advisory services to life, health, property and casualty insurers and reinsurers worldwide. Our team of 8,000 insurance aligned professionals span many disciplines and offer a well-rounded understanding of business issues and challenges as well as integrated services to our clients. They are professionals with deep subject matter knowledge who assist clients in enhancing their business opportunities. Our services include:

► Core insurance operations improvement, implementation and transformation

► Predictive modeling

► Advanced analytics

► Finance improvement

► Accounting and regulatory implementation

► Actuarial

► Risk

We serve 100% of the Forbes 2000 top 10 insurers including; ► 100% of the Forbes 2000 top 10 property/casualty insurers;

► 100% of the Forbes 2000 top 10 life insurers;

► 75% of the Forbes 2000 top 10 insurance agents/brokers.

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Most effective vendor/client relationship

Helped an International Specialty Carrier implement a global claims system in 20+ countries.

►Top business sponsor involved and committed. Significant time invested in project throughout its lifespan.

►Great relationships between leaders – good friendship developed over time. ► Moment of Truth – how that first challenging situation is handled on both sides

►Signed off, approved business case

►C-Level Steering Committee – truly interested and involved in outcome

►Frequent communication focused on what really mattered

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MajescoMastek -- Our US Financial Services & Insurance Business

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Services & Technology Experience• Development & Maintenance• Data Management Services• Testing Center of Excellence• Mobility Solutions• Technology Engineering Cell

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MajescoMastek -- A Success Story

₪ “Go Live” with new PAS Software – 2004₪ Products Supported by SEG Software: EIA / MVA Payouts Commissions ₪ Technology Profile:

Browser - Internet ExplorerWeb Server - Windows ServerOperating System- WindowsDatabase - SQL

(a subsidiary of Iowa Farm Bureau)

Broadest Customer Base in the industry

500,000 insurance users

1,000 carriers

750 MGAs

17,000 agencies

Proven Results

Benefits Improved field visibility Real-time contract status notifications with

four new communication touch points On-boarding process re-configured with

appointment after certification Single click appointment in on-boarding

workflow Consistent work product by FTE due to

workflow process structure

Success Story: United Healthcare

© 2011 Vertafore, Inc. Proprietary 9

Contract turn around time went from 45 days to less than 10

Contract requests backlog at peak season went from 8,000 to 1,100

Reduced 15 FTE Cost savings in onboarding and appointing

The Producer Lifecycle Management platform

streamlines onboarding and appointing

for largest single health carrier in the United States

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Most effective vendor/client relationship:– operated with transparency– highly self-aware of their strengths, and declined requests that

fell outside their proven competencies– responsive and accountable– directly monitored their employees’ performance such that they

found the weak and strong players before I did– highly effective onsite project manager who partnered well with

my managers and embraced my company’s culture– provided thought leadership on specific project phases,

including test planning, estimation and execution– bring their breadth and depth of overall project experience to

bear   

Insurer input

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A member of the Oliver Wyman Group

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