(Image source: Lawyers’ Mutual Insurance Company homepage.)
Lawyers’ Mutual Insurance Company (Burbank, Calif.), a provider of lawyers’ professional liability insurance (LPL) in California, has deployed Insurance Systems Inc.’s (ISI, Toronto), ISI Enterprise as its core insurance processing solution.
“It was important for us to select a system that was flexible and configurable to our specific business requirements,” comments Andrew Chick, President and CEO of Lawyers’ Mutual. “The ISI team helped implement these requirements and has also helped our team to fully embrace the technological changes we are making. This investment is a key part of our strategy to continuously improve the experience for our members.”
Single Integrated Platform
Lawyers’ Mutual has gone into production with all ISI Enterprise modules, including policy administration, claims, accounting, billing and reinsurance, effectively amalgamating their operations into a single integrated platform, according to the vendor. With a complete data migration, the 15-month implementation provided Lawyers’ Mutual with new automation opportunities and stringent control systems between departments, ISI reports.
Insurance Systems reports that it follows a single codebase software development model, the consequence of which is that new functionality added to the solution will not only be available to Lawyers’ Mutual, but all existing clients and new ISI Enterprise clients. As part of the Lawyers’ Mutual implementation, the vendor and insurer project teams worked together to build configurable workflow tools for automated approval management and paperless processing across all ISI Enterprise modules—features that are now available in ISI Enterprise’s latest software release, according to ISI.
In its announcement about the Lawyers’ Mutual deployment, ISI stressed its understanding of the importance of core systems to integrate with other ancillary solutions to amalgamate data sources and streamline daily business processes. Utilizing tools and web services provided by the vendor, ISI says that Lawyers’ Mutual was able to integrate with its existing continued legal education program, finance company as well as rollout a new PCI Compliant payment portal for members.
Other benefits to Lawyers’ Mutual through the ISI Enterprise deployment include the following, as described the vendor:
- Improved risk management through increased internal controls throughout the policy lifecycle;
- Automated renewal processes to increase underwriter efficiency;
- Integrated accounting functionality with real-time transaction processing;
- Improved decision-making capabilities with ISI Enterprise’s Business Intelligence module;
- Optimized disaster recovery processes with an AWS cloud-based deployment.
“We are excited to have our fourth professional liability carrier live on our ISI Enterprise solution,” comment Casey Kretz, President and CEO, ISI. “Our team was able to provide Lawyers’ Mutual with a platform that will transform their business by bringing a heightened degree of automation to their daily processes.”