FICOH Automates New Personal Auto Line Using ISCS's SurePower Innovation®
San Jose, CA and Honolulu, HI - May 12, 2011 - ISCS is pleased to announce that First Insurance Company of Hawaii (FICOH) has implemented ISCS's SurePower Innovation® Policy Administration Suite for FICOH's new personal lines auto business, and is live with a direct-to-consumer sales portal that innovatively combines direct sales with service by FICOH's independent agent network.
FICOH, the oldest and largest property and casualty (P&C) insurer domiciled in Hawaii, employs more than 300 insurance professionals and distributes its products through 28 independent general agencies. The genesis for this technology initiative came about when FICOH recognized a market opportunity emerging in Hawaii for a new personal auto product. The company made a strategic decision to launch a new line coupled with a "hybrid" distribution model of a direct-to-consumer sales portal that would support a role for independent agents, and set several criteria for the technology needed to support this initiative.
"We needed a proven technology platform that could be brought to market quickly, and which would minimize the draw on our internal technology resources," said Jeff Shonka, vice president and CFO for FICOH. "The ISCS SurePower Innovation product clearly met those critical requirements."
However, FICOH credits more than ISCS's modern technology for the project's success. ISCS has developed an agile project methodology specifically for insurance implementations. FICOH found ISCS's approach drove efficient use of company resources.
"We were working with a very tight timeline to bring the product to market, and we also had our subject matter experts spread thinly, with other major projects underway at the same time," said Tony Abad, vice president, personal lines, for FICOH. "ISCS's agile methodology enabled us to draw on our critical staff for intensely-focused and manageable periods of time that minimized the long-term time commitment other technology development methods required. Our team could see and react to the emerging solutions in a much tighter response cycle."
FICOH reports the company's independent agency partners have responded positively to the personal auto product and direct sales portal, and the customer segment FICOH targeted has as well. The supporting components of SurePower Innovation have also been well-received by employees.
"We appreciate the opportunity to help FICOH act on this market opportunity," said Andy Scurto, president of ISCS. "It is exciting to see FICOH's project participants put our technology and approach to work so effectively and deliver on their leadership's business strategy."
P&C carriers and MGAs rely on the modular, Web and SOA-based SurePower Innovation Policy Administration Suite to perform critical business processes for commercial, personal and specialty lines of business. These include underwriting automation, policy and claims management, integrated reinsurance, integrated billing and much more. The system provides integrated document management, a rules-based data warehouse, and document imaging client tool for bulk indexing and LDAP-standards security. With modern highly scalable, extensible, and configurable technology, SurePower Innovation enables insurers of all sizes to meet today's market requirement for business agility. SurePower Innovation Policy Administration Suite is a company-wide, strategic choice for carriers to both retain customers and increase their book of business. For more information contact Phil Kiekhaefer, Ph.D., Director of Marketing & Usability for ISCS, at 1-888-901-ISCS, email@example.com, or visit www.iscs.com
About First Insurance Company of Hawaii (FICOH)
Founded on August 11, 1911, First Insurance Company of Hawaii, Ltd. is the oldest and largest property and casualty insurer domiciled in Hawaii, with assets of $606.8 million, liabilities of $368.6 million and policy holders' surplus of $238.2 million at December 31, 2010. First Insurance enjoys an "A" (Excellent) rating from A.M. Best Co., whose ratings are widely recognized as a benchmark of an insurer's financial strength. First Insurance has also been named to the Ward's 50 list that recognizes the nation's top 50 property and casualty insurance companies. Proud of its broadly experienced, service-oriented staff, First Insurance employs more than 300 insurance professionals and distributes its products through 28 independent general agencies. It has claims personnel on Oahu, Kauai, Maui and the Big Island. First Insurance is jointly owned by CNA Financial Corporation and Tokio Marine & Nichido Fire Insurance Company Ltd. For more information, please visit the FICOH website at www.ficoh.com.