Following the change of control, ERS had a clear objective to replace their legacy IT platform with key requirements to support their turnaround business strategy. ICE was chosen to deliver this business-critical change. Following on from the first technology implementation, we talked to key executive members at ERS and ICE.
A strong working relationship
Speaking on the relationship, Mark Bacon, Active Underwriter at ERS said: “The difference that I saw in this piece of work was the way ICE embedded themselves into our underwriting team, to really understand our business, and designed a solution that met the needs of the business.”
Clear lines of communication were fundamental to resolve any issues quickly, “We very quickly built a strong working relationship with an open dialogue on all levels and worked with ERS to adapt our ways of working as the programme needed. Our people are committed and passionate about what they do and always keen to find the right solution for the customer”, added Lynette Slater, Client Services Director at ICE.
Powerful policy and claims management software
Tim Yorke, Chief Operating Officer at ERS highlighted the cost reduction in IT spending, “Our IT is now cost effective in a way that it never was before. Our annual IT spend has dropped by more than 60%.”
The ERS insurance business is intermediated and transacted via EDI and broker presentation, and they had over 5000 schemes to consolidate. They wanted to manage their own products and schemes, be agile and responsive and not beholden on IT. We worked closely with ERS to ensure they used as much functionality as possible out of the box, using the configuration tools to adopt their processes and rules to the ICE capabilities. As a result, ERS were able to reduce their set up from around 5000 to 250 schemes. The true configurability of our processing and rules puts control of the operations in the hands of the business and has shortened product implementation times to weeks.
“It [the insurance system] allows us to be so much more responsive to the needs of our brokers and customers so when we identify opportunities, we can assess them quickly and we can deliver solutions to meet those needs,” Mark said. “It enables what we want to do as a business.”
Taking advantage of new features with regular upgrades
Following completion of the ERS’ IT transformation & migration over 2 years, ERS have a strategy of taking advantage of the ICE quarterly product roadmap – implementing a minimum of 2 upgrades per year each for Policy and Claims software and working closely with ICE to achieve best practice adoption for their business operations.
For those who love a good cycling analogy, Peter Smith, Claims Director at ERS takes the example of the Tour de France and the peloton, “With our system, we were off the back of the peloton by a good distance and we were really struggling.” Moving onto ICE Claims has got ERS back in the race.
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How ICE InsureTech can help
At ICE, we provide integrated technologies that connect people, devices and systems within the insurance sector.
Our solutions deliver a fast return on investment, are easy to implement and can help you to meet the ever-increasing demands of today’s insurance customers.
For more information, contact ICE InsureTech
ICE Policy has been jointly awarded the XCelent Technology 2021 Award for leading Advanced Technology in Celent’s latest Policy Systems Vendors: EMEA P&C Insurance 2021 report.
2020 was a year of change for the industry and we had a fantastic year as a company. As 2021 kicks off, we are looking forward to another strong year of growth and new customers implementations going live.
ICE InsureTech has been selected as one of the leading 100 companies in the InsurTech100 for 2020, announced by FinTech Global.