Insurance Firm Speeds Time-to-Market 60 Percent with Better Policy Administration
Sentry Insurance, a mutual insurance company in Stevens Point, Wisconsin, wanted to consolidate three mainframe life insurance policy administration systems on a single solution running on up-to-date technologies. Sentry deployed EXL LifePRO from EXL service, an administration platform that is built on the Microsoft .NET Framework software and runs on Windows Server 2008 and Microsoft SQL Server 2008. The solution enabled Sentry to retire the three mainframe systems and save approximately U.S. $ 450,000 in IT costs annually. Now that business users and actuaries use EXL LifePRO to build new offerings without IT involvement, Sentry improved speed-to-market by 60 percent and saved an average of $60,000 in development costs per product, helping the company meet market demands.