Coverys – Case Study

DIGITAL TRANSFORMATION AT COVERYS

Coverys needed an early deployment, a company they could fully trust, and a provider with a can-do attitude. Above all, Coverys was seeking a technology partner that would be responsive and support their objective of having a policy administration platform up and running with minimal disruption and within a tight time frame.

BACKGROUND

Coverys Managing Agency, a fully authorised Lloyd’s managing agency and the UK subsidiary of Coverys Group, one of the leading providers of medical liability insurance and risk service, was looking to establish Syndicate 1975, its Lloyd’s Syndicate, as a reference point for its wider Lloyd’s activity.

The company needed to deploy a modern, slick, up-to-the-minute system which called for a new technology platform.

CHALLENGES

With Lloyd’s market modernisation plan in place, Coverys wanted to push as much of that modernisation and efficiency within its organisation, and automating wherever possible the processes they operate was a priority. Additionally, with sanctions a key area for a company like Coverys in terms of non-underwriting risk, the consequences of breaching EU and OFAC sanctions regulations are business critical and can threaten an insurer’s livelihood.

Coverys needed an early deployment, a company they could fully trust, and a provider with a can-do attitude. Above all, Coverys was seeking a technology partner that would be responsive and support their objective of having a policy administration platform up and running with minimal disruption and within a tight time frame.

SOLUTION

Coverys chose Navigator, AdvantageGo’s Policy Administration software, as its prime system for entry of underwriting risk and is now its platform of choice for its London operations and US Service company based in Boston.

Navigator supports Coverys to produce RMI and financial data while feeding into Coverys’ underwriting web-enabled dashboard, which allows the wider global group to access London data.

The deployment of Navigator has been first rate, according to Coverys. Coverys was pleased with how the installation went and with the AdvantageGo team, who worked on the deployment. When Coverys evaluated several platforms from other vendors, they felt that Navigator, on balance, was the best product for their business needs and modernisation plan.

CLARITY, INSIGHT, AUTOMATION & CONTROLLUTION
ACROSS YOUR POLICY & CLAIMS PROCESS