Award recognizes Guardian Direct transformation program leveraging the EIS Suite of coretech and digital applications
Guardian Insurance has been honored as a 2020 Model Insurer Award winner by Celent, a leading research and advisory firm. The Celent Model Insurer Awards program, now in its fourteenth year, recognizes organizations that demonstrate the year’s top technology initiatives.
Celent’s highly competitive award program recognizes insurance carriers as ‘model insurers’ for their outstanding technology initiatives. In order to win, the initiatives must demonstrate clear business benefits, innovation, and technology or implementation excellence.
Guardian’s award-winning case study in the category of legacy and ecosystem transformation focused on creating a new direct-to-consumer business on a cloud-based core platform.
The case study describes how Guardian developed Guardian Direct to provide voluntary benefits products to underserved consumers, those in the gig economy, and retirees who didn’t have access to workplace benefits. Celent wrote, “[Guardian] built a greenfield business in the cloud and along the way never stopped thinking of the customer journey. In less than twelve months, Guardian developed a new platform that offers consumers dental PPO and HMO, critical illness, and accident products within a simplified and convenient customer journey. The digital experience is consumer-friendly and supports the full policy lifecycle from the quote to claims as well as policy management via a self-service portal or mobile app.”
To learn more about the greenfield approach to innovation, click here.
With the new platform, Guardian has seen a rise in customer satisfaction by 10 percentage points and a jump in Net Promoter Score (NPS) of more than 40 points. Digital engagement – including access to doctor network, billing, payment and claims information – is almost 80% for new members.
Guardian also experienced a 45% growth in policies with a movement to higher benefit level plans driving a 70% increase in total sales year-over-year. The platform has enabled an end-to-end digital experience that has so far generated a 20% reduction in service delivery costs.
A detailed case study is available from Celent.
“We congratulate Guardian on this significant industry honor,” said Tony Grosso, SVP and head of marketing at EIS. “They have created a remarkable business solution from scratch that is the very essence of customer-centricity by uniting high-quality digital experiences with efficient and flexible core operations."
Watch Video: Model Insurer Legacy and Ecosystem Transformation : Guardian from Celent on Vimeo.
Guardian deployed EIS Suite™ components PolicyCore®, BillingCore®, ClaimCore®, and CustomerCore™ and EIS DXP™ as the foundation of the new business platform. The cloud-based platform supports quoting, enrollment, policy administration, billing, claims, and customer management and engagement processes to provide Guardian’s customers with a fast and fully integrated digital experience.
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