One of the top P&C Insurance carriers implements Discoverture XactConnect to simplify its external integration strategy for ChoicePoint data service.

  Overview

Today’s insurers are modernizing their legacy rating and policy administration systems for competitive advantages. These systems increasingly make use of newer technologies such as XML and Web Services. Insurers need up-to-date and comprehensive information regarding the insured for making speedier and knowledgeable underwriting decisions. Their data needs range from applicant’s motor vehicle records (MVRs) from various states, credit scores for different credit bureaus to prior claims history on auto and property. ChoicePoint (www.choicepoint.com) has established itself as a premier data service provider for the insurance industry in this regard. However, ChoicePoint catering to a vast and varied customer community provides this data in traditional EDI based layouts.    

Discoverture XactConnect middleware platform resolves the differences in data formats and exchange methods between the insurers and ChoicePoint providing seamless integration between insurer’s underwriting and policy administration systems and ChoicePoint’s data services.

  Opportunity Summary

One of the top 50 P&C carriers in the US decided to use Duck Creek’s EXAMPLE platform for its rating, underwriting and policy administration needs for its personal line products. Before issuing an insurance policy company’s underwriters need access to applicant’s MVR and past claims history data. The carrier relied on ChoicePoint, the leading provider of such data services. However the differences in data formats and exchange methods between ChoicePoint and Duck Creek meant significant development time and cost not to mention the impact the delay would have on its new business potential.  

The P&C carrier needed a proven compatible communication and data exchange middleware solution that fit well into its environment and provided seamless integration between its internal and the external systems such as ChoicePoint.

  Solution

Discoverture’s XactConnect for ChoicePoint solution provided the framework and reusable components that allowed the carrier to request applicant information from ChoicePoint and receive the requested information for consumption by its policy administration system seamlessly. It was able to handle MVR records for 50 states, CLUE reports for both Auto and Home and credit scores from 3 independent bureaus. Discoverture also provided project management, configuration, and customization and support services to implement the solution thoroughly.

  Benefits

As a result, the P&C carrier gained following key benefits 

·       Simplified the ChoicePoint interface strategy

·       Enhanced underwriting decision making

·       Focused on core application

·       Encapsulated ChoicePoint specific business rules and formats

·       Implemented a well-architected, scalable, configurable and extensible middleware solution deployed over standard internet protocols

·       Reduced development costs by 80%

·       Was able to bring its products to market on time