Small Business Transformation (SBX) Qorus Innovation in Insurance Awards 2020 - Winner

The Small Business Transformation (SBX) Program involved implementing the cloud-based Duck Creek and Agency Portal products and transforming the Small Commercial business processes at Westfield Insurance. With 500+ internal and vendor resources, this program has impacted all major aspects of our insurance operations as well as our digital data consumption and analytics, and was achieved through innovative cloud and automation solutions across both IT and Business. By aligning this complex transformation to an aggressive implementation schedule, we now have the foundation to leapfrog our competition in the Small Commercial market. To address the primary business objectives of increasing premium growth and lowering the expense ratio in our small commercial book, we had to radically transform the way we do business. Our existing systems and processes would not give us the competitive advantage to drive growth, so we embarked on a complete Business and IT transformation to evolve: 1. From $400M+ business to multibillion-dollar segment 2. From single digit STP ratio to: a. New Business STP Ratio – 80%+ b. Renewal STP Ratio – 90%+ 3. From 5-7 business days on average to quote and issue a policy to hours 4. From more than 85% of the time being spent on fulfillment activities to more than 80% of time spent on value creation activities 5. From high touch workflow for all risk types to no-touch, low-touch and high-touch workflows 6. From single channel to multi-channel strategy 7. From employee entered business model to agent/partner entered business model 8. From single improvement to complete transformation; from individual systems to holistic and integrated ecosystems