Elephant Insurance, a wholly owned subsidiary of UK based insurance company Admiral Group, has selected LexisNexis' Policy Decisions Personal solution to automate its policy administration and to support its entry into US market.
Web-based personal lines platform, LexisNexis Policy Decisions Personal solution empowers carriers to streamline operational processes and reach into new markets with feature-rich policy administration applications.
LexisNexis said from self service quoting and purchasing to full end-to-end solutions, Policy Decisions Personal delivers a solution for every customer, agent, compliance and internal need.
The solution also provides real-time policy transaction processing, offering real-time access to current policy data across distribution channels.
In addition, the solution helps reduce the time to market with a self-service toolset and capabilities to configure and customize rating, user interface, workflow, security and more.
Elephant Insurance president and CEO Andrew Rose said LexisNexis Policy Decisions Personal can be managed more directly with fewer IT personnel and came with turnkey applications that allowed the company to minimize implementation time and custom development costs.
"Contract signing to go live was just over 6 months, and included implementation of a full policy administration solution and an on-line quote and bind application," Rose said.