Success Stories
Each scope, business problem and approach was unique, and each business solution around Macaw products and components was result of collaboration between our Customers and ourselves. Presumably, nothing in the DUAE marketplace is possible where one size fits all.
BEST IN CLASS SALES AND UNDERWRITING
1. Single Customer View
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2. Automated Underwriting and Rating with Referrals: all traceable till each rate and exposure.
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3. Zero-latency multi-channel purchase process where Customers and Sales-persons can see the same screen and can start / complete transactions using different channels.
MGA focused on needs of Real Estate marketplace:
a specialist in Professional Liability
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Due to the requirement of insurance being mandatory in many states within the target customer segment, the products and offerings involve complex combinations across coverages as well as value-added services. Quick customer service, lower loss ratio and lower cost per policy are key success factors. No-touch process is essential.
Nest implemented end to end processes of Macaw Agency Management System with progressive data accumulation and migration. Nest has also been maintaining this in all seasons including the high-volume days when hundreds of Policies are processed within a few hours.
Lloyds Cover-holder specializing in insurance of human capital risks in high-end markets
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The critical aspect of the Customer's business is the ability to customize the offering for each Insured differently using the same framework of binders without losing the ability to deploy no-touch process for automated workflows. A number of the rules, embedded in the customer's semi-automated processes were discovered iteratively during the transformation journey.
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Nest could accommodate the variations across hundreds of different patterns using its externalized rules engine and could deploy without losing scalability. Nest could also create facilities for users to externalize customization per insured, all within the integrated and connected processes.
CUSTOMIZED POLICIES
A very detailed feature optimization
of Policies was achieved using configuration of Macaw AMS. Apart from the typical multiple underwriting and rating options with overrides as necessary, even the exclusions, warranties and subjectivities can be specific to an Insurance Policy or Insured.