SSQ Insurance Improves CX, Speed and Accuracy for Auto Insurance Quotes

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A 2018 ICTA nomination

Toronto, ON (Jan. 9, 2018) – In 2016, SSQ started a project to replace its old online quoting system with Guidewire CustomerEngage™ Quote & Buy. Previously, SSQ used an external solution that was partially integrated with the Guidewire ecosystem. The goal was to have an on-premise and more up-to-date solution for online integration with the Guidewire product/technology ecosystem already in place at SSQ.

The project started on May 2016 and went live on February 5, 2017. The project was successfully realized with an agile approach. The project totaled 4 development sprints, with 2 stabilization sprints that were completed within the initial time and budget constraints. The version 4 to version 5 migration, including the quick quote implementation, has been added subsequently to the scope of the project without affecting the schedule. The online quotes are fully integrated by:

  • Using the same Guidewire rating engine (Guidewire Rating Management™) as Guidewire PolicyCenter®
  • Using the same contact information as the home online quote based on Guidewire Contact Manager
  • Fully connecting with the campaign and call generator to ensure proper follow-up of the client
  • Being integrated with the affiliated agent portal to offer them the same functionality to serve their customers

To reach more users and to achieve the goal of being up-to-date, the online quotes have a responsive web design that allows users access through all kinds of electronic devices (smartphones, tablets or PCs). The arrival mid-project of version 5, with the streamlined quote, allowed SSQ to rapidly incorporate this business function and quickly integrate into the market with it, while still being cost-effective, leading to an optimization of time to market. The Guidewire technology platform has given SSQ the agility to adjust some of the project’s components (team, management, organizational structure, etc.) and flawlessly manage the change of scope.

Benefits

In addition to achieving the project’s initial goal, SSQ quickly gained outstanding benefits with this solution. On the business side, as a result of the implementation of the new online quote, SSQ noted several improvements:

  • 19% increase in overall number of quotes
  • Reduction of the human resources costs based on a 25% reduction in average call time
  • Reduction of the quit rate from 28% to 8%, compared to the old online quote
  • Increased completion rate from 72% to 92% after completion of the driver step, compared to the previous online quote
  • Increased online customer satisfaction thanks to the implementation of the quick quote, now used by 57% of the customer base instead of the detailed quote, now used by 43% of clients

About SSQ Financial Group

SSQ Financial Group is one of Canada’s leading financial institutions with over 3 million customers, 2,000 employees, and $11 billion in assets under management. In addition to offering quality financial services, we stand out for our excellent customer service and our commitment to offer the best possible client experience. For more information, visit ssq.ca.

SOURCE: SSQ Financial Group

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