(Downtown Franklin, Tenn., home of Trexis Insurance. Photo credit: FranklinCityWatcher.)
Trexis Insurance, a Franklin, Tennessee-based non-standard personal auto insurer with operations in nine U.S. states, has selected the Duck Creek Suite to support its digital transformation. The carrier chose Duck Creek Technologies (Boston) Policy, Billing, Claims, Insights, and Distribution Management as part of an overall strategy to pursue growth, increase speed to market, make better use of data, and simplify the process of managing its growing network of thousands of agents, according to a vendor statement. The carrier will implement Duck Creek applications via Duck Creek OnDemand, the vendor’s SaaS solution for the property/casualty insurance industry.
Karen Furtado, Partner, SMA.
Trexis decided to undertake a core system replacement initiative in response to several factors: Its existing legacy systems were limiting the speed of the insurer’s growth, forcing Trexis to seek a modern suite of solutions built on a platform that will answer its business needs into the foreseeable future. Trexis also faced substantial maintenance costs associated with on-premises systems. The carrier’s legacy systems did not allow for meaningful data insights, making product enhancements and introductions difficult and time-consuming, and its lack of a centralized system for managing a large and growing roster of agents made true digital engagement a significant challenge.
“Insurers that focus on transformation initiatives seek to not only modernize their core environments, but also to drive efficiency in their operations through technology,” comments Karen Furtado, Partner, Strategy Meets Action. “This focus creates an opportunity for insurers to automate manual processes and utilize their resources for higher-value activities. Duck Creek’s product management and core capabilities are positioned to support these critical initiatives.”
Enabling Quick, Profitable Growth
Bubba Mullen, CIO, Trexis.
“Our ability to grow quickly and profitably was central to our decision to replace our core systems with the Duck Creek Suite OnDemand,” comments Bubba Mullen, CIO, Trexis. “Duck Creek has already delivered SaaS to the P&C marketplace which will accelerate the Trexis implementation. And putting our data assets to work in real time while managing our growing list of carefully-vetted agents will be critical advantages for us—activities we can focus on instead of maintaining on-premises IT systems. This is a huge step forward in our digital transformation, and one we know will serve us well into the future as we grow our business with greater speed to market and critical business intelligence.”
“This legacy systems replacement represents a real turning point for Trexis as it moves through its digital transformation,” comments Andy Dey, Chief Product and Technology Officer, Duck Creek Technologies. “Duck Creek OnDemand will give Trexis the flexibility and agility to make product changes and new product launches happen much faster, and the BI and data analysis capabilities they will gain from Duck Creek Insightswill be a huge advantage as they continue to scale and innovate. Plus, with Distribution Management now handling numerous manual processes, Trexis can focus its resources on meeting and exceeding customer and agent expectations in ways its prior systems couldn’t.”