an organizations tale of triumph to become a leading p&c insurance provider
TRANSCRIPT
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to Become aLeading P&C
Insurance Provider
By Pyramid Solutions
An Organization's Taleof Triumph
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Stateside Insurance is aFortune 500 provider
operating in all 50 states.
It had a solid track recordin the P&C market butwanted to improve its
competitive advantage.
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Stateside had a problem though.
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Stateside had a problem though.
Houston, Wehave a
problem...
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Stateside had a problem though.
Houston, Wehave a
problem...
Their UnderwritingDepartment wasunder-performing.
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Stateside had a problem though.
Houston, Wehave a
problem...
Their UnderwritingDepartment wasunder-performing.
![Page 7: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider](https://reader031.vdocument.in/reader031/viewer/2022030306/58cf99291a28ab65538b5cbb/html5/thumbnails/7.jpg)
Here's why:
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Here's why:
The departmentreceives large
pieces of content invarious formats
every day without away to process it all
efficiently.
![Page 9: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider](https://reader031.vdocument.in/reader031/viewer/2022030306/58cf99291a28ab65538b5cbb/html5/thumbnails/9.jpg)
Here's why:
The departmentreceives large
pieces of content invarious formats
every day without away to process it all
efficiently.
![Page 10: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider](https://reader031.vdocument.in/reader031/viewer/2022030306/58cf99291a28ab65538b5cbb/html5/thumbnails/10.jpg)
Here's why:
The departmentreceives large
pieces of content invarious formats
every day without away to process it all
efficiently.
They're plagued bymanual activities:
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Here's why:
The departmentreceives large
pieces of content invarious formats
every day without away to process it all
efficiently.
They're plagued bymanual activities:
Jumping betweensystems of record andthird-party applications
![Page 12: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider](https://reader031.vdocument.in/reader031/viewer/2022030306/58cf99291a28ab65538b5cbb/html5/thumbnails/12.jpg)
Here's why:
The departmentreceives large
pieces of content invarious formats
every day without away to process it all
efficiently.
They're plagued bymanual activities:
Jumping betweensystems of record andthird-party applications
Side-by-side documentcomparisons
![Page 13: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider](https://reader031.vdocument.in/reader031/viewer/2022030306/58cf99291a28ab65538b5cbb/html5/thumbnails/13.jpg)
Here's why:
The departmentreceives large
pieces of content invarious formats
every day without away to process it all
efficiently.
They're plagued bymanual activities:
Jumping betweensystems of record andthird-party applications
Side-by-side documentcomparisons
Extensive searchingthrough documents tofind relevant information
![Page 14: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider](https://reader031.vdocument.in/reader031/viewer/2022030306/58cf99291a28ab65538b5cbb/html5/thumbnails/14.jpg)
Here's why:
The departmentreceives large
pieces of content invarious formats
every day without away to process it all
efficiently.
They're plagued bymanual activities:
Jumping betweensystems of record andthird-party applications
Side-by-side documentcomparisons
Extensive searchingthrough documents tofind relevant information
Paper signatures andverbal approvals andconsent
![Page 15: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider](https://reader031.vdocument.in/reader031/viewer/2022030306/58cf99291a28ab65538b5cbb/html5/thumbnails/15.jpg)
Here's why:
The departmentreceives large
pieces of content invarious formats
every day without away to process it all
efficiently.
They're plagued bymanual activities:
Jumping betweensystems of record andthird-party applications
Side-by-side documentcomparisons
Extensive searchingthrough documents tofind relevant information
Paper signatures andverbal approvals andconsent
They heavily rely on the IT
Department tomake any changes
with the system-big or small.
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Basically, they constantly feellike this
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Basically, they constantly feellike this
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Basically, they constantly feellike this
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Basically, they constantly feellike this
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To overcome these challenges, theyreached out to us -
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To overcome these challenges, theyreached out to us -
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To overcome these challenges, theyreached out to us -
Say hi to Some of the Team!
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We knew in order for Stateside to become morecompetitive, it needed an enterprise-wide content
management strategy, solution, andimplementation roadmap that took them from
intake to completion for underwriting.
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We knew in order for Stateside to become morecompetitive, it needed an enterprise-wide content
management strategy, solution, andimplementation roadmap that took them from
intake to completion for underwriting.SAY WHAT?!
![Page 25: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider](https://reader031.vdocument.in/reader031/viewer/2022030306/58cf99291a28ab65538b5cbb/html5/thumbnails/25.jpg)
We knew in order for Stateside to become morecompetitive, it needed an enterprise-wide content
management strategy, solution, andimplementation roadmap that took them from
intake to completion for underwriting.SAY WHAT?!
Let me break it down for you...
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A standardized plan to manage documentsacross the entire organization to get rid of
silos and individual contributor views.
We knew in order for Stateside to become morecompetitive, it needed an enterprise-wide
content management strategy, solution, andimplementation roadmap that took them from
intake to completion for underwriting.
![Page 27: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider](https://reader031.vdocument.in/reader031/viewer/2022030306/58cf99291a28ab65538b5cbb/html5/thumbnails/27.jpg)
A standardized plan to manage documentsacross the entire organization to get rid of
silos and individual contributor views.
We knew in order for Stateside to become morecompetitive, it needed an enterprise-wide content
management strategy, solution, andimplementation roadmap that took them from
intake to completion for underwriting.
An underwriting software thatautomates processes.
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A standardized plan to manage documentsacross the entire organization to get rid of
silos and individual contributor views.
We knew in order for Stateside to become morecompetitive, it needed an enterprise-wide content
management strategy, solution, andimplementation roadmap that took them from
intake to completion for underwriting.
An underwriting software thatautomates processes.
A comprehensive project plan.
![Page 29: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider](https://reader031.vdocument.in/reader031/viewer/2022030306/58cf99291a28ab65538b5cbb/html5/thumbnails/29.jpg)
So what will all thatfancy stuff do for
stateside Insurance?
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So what will all thatfancy stuff do for
stateside Insurance?
Great question!
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1. Aggregates data from siloed systems of recordinto a role-based user interface.
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1. Aggregates data from siloed systems of recordinto a role-based user interface.
2.Efficiently processes unstructured data andassigns it to underwriters.
![Page 33: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider](https://reader031.vdocument.in/reader031/viewer/2022030306/58cf99291a28ab65538b5cbb/html5/thumbnails/33.jpg)
1. Aggregates data from siloed systems of recordinto a role-based user interface.
2.Efficiently processes unstructured data andassigns it to underwriters.
3.Allows users to split large documents into smallerones, merge multiple documents into one, and re-index documents.
![Page 34: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider](https://reader031.vdocument.in/reader031/viewer/2022030306/58cf99291a28ab65538b5cbb/html5/thumbnails/34.jpg)
1. Aggregates data from siloed systems of recordinto a role-based user interface.
2.Efficiently processes unstructured data andassigns it to underwriters.
3.Allows users to split large documents into smallerones, merge multiple documents into one, and re-index documents.
4.Enables Stateside to define, manage and controlfunctional access by role.
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5.Allows users to tag documents to indicatelocation and purpose and bookmark importantdocument pages.
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5.Allows users to tag documents to indicatelocation and purpose and bookmark importantdocument pages.
6.Provides real-time dashboards that monitor allactivities in the underwriting process.
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This ultimately led toStateside's underwritersimproving productivity by
30%.
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How?!
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How?!
Because these areasexperienced dramaticperformance CHANGES:
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How?!
Because these areasexperienced dramaticperformance CHANGES:
REDUCEDCYCLE TIMES
INCREASEDCOMPETITIVEADVANTAGE
NO MORE JUMPINGBETWEENAPPLICATIONS
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How?!
Because these areasexperienced dramaticperformance CHANGES:
REDUCEDCYCLE TIMES
INCREASEDCOMPETITIVEADVANTAGE
IMPROVED CLIENT & AGENT
SELF-SERVICE CAPABI
LITY
DECREASED
OPERATING
EXPEN$E$
MORE ACCURATECLAIMS ANALYTICS
NO MORE JUMPINGBETWEENAPPLICATIONS
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It's safe to say Stateside was pretty happy.
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It's safe to say Stateside was pretty happy.
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To learn more about Pyramid Solutionsvisit PyramidSolutions.com.
Thank you!@PyramidECM#PyramidSolutions
Pyramid Solutions, Inc.
This was a fictional story created to demonstrate Pyramid Solutions' life underwriting solutions. Stateside Insurance is not a real insurance company or client.