PwC gets the client’s perspective
EMC Insurance Companies (EMC), a US property and casualty insurer, employs more than 2,200 employees and sells its products solely through independent insurance agencies. Looking to digitize its tech stack, the company worked with PwC to create a cloud strategy to support its growth goals. This involved understanding key challenges and identifying the capabilities needed to scale. EMC and PwC brought the business cloud native, implementing Guidewire InsuranceSuite to create efficient ways of working and a competitive edge in the industry.
Interview with:
Erik Keninger
Vice President, Enterprise Application Engineering,
EMC Insurance Companies
What was the challenge?
“EMC was heavily dependent on mainframe and legacy technologies, and our business processes were not standardized across branches. This made it difficult for us to act quickly in the marketplace, deliver an exceptional customer experience and share data effectively across the enterprise.”
Describe the solution delivered by the PwC community of solvers.
“PwC worked closely with our business and IT leaders to modernize our technology architecture. While moving our operations to the Guidewire Cloud Platform, PwC applied its cloud and industry knowledge to help us build an agile future-state that properly accounted for our roadmap, delivery dates and dependencies. The design and implementation gave us a more flexible and engaged presence in a competitive marketplace.”
How does the solution blend the strengths of technology and people?
“Our project team consisted of people on many different teams and functions who came together to turn our ideal cloud transformation into reality. With new digital capabilities, we were able to integrate multiple platforms and simplify and improve the way we work. To help us succeed, PwC used over 20 different automations that saved 30,000 hours in effort over an 18-month period.”
Where or how did innovation and unexpected ways of thinking come into play?
“This transformation has positioned our business to grow. We can extend our operations to additional states, add lines of business and expand our overall ecosystem with less friction, and we improved our speed to market. Furthermore, we continue to make significant improvements in data accessibility, operational efficiency and customer satisfaction. As a result, we’re on track to reduce technical debt and enterprise risk.”
Sustained outcomes
~100
external and internal systems integrated with the core Guidewire applications and digital portals
~380,000
accounts migrated and ~5,400 claims managed in Guidewire Cloud
~100
data feeds created from the enterprise data warehouse in Guidewire Cloud, which helped the business access data more effectively
This effort sets the foundation for EMC’s Guidewire Cloud suite moving forward, allowing the company to create enhancements, extend to additional states, add lines of business and expand its overall ecosystem
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