Antigonish, NS (Dec. 4, 2020) – During November 2020, Antigonish Farmers’ Mutual Insurance Company successfully implemented the Insurance Business Solution (IBS®) live into production. The implementation of IBS®, an enterprise insurance platform developed by Cognition+, is the initial step Antigonish is taking on their digital journey. Conversion from Antigonish’s legacy system to the Cognition+ suite of solutions will allow for a seamless upgrade and support path as Antigonish targets enhanced service and efficiencies for their policyholders, agents and team. Moving to the cloud earlier this year, has supported this project and will allow for a nimble approach towards adopting more Cognition+ solutions ensuring Antigonish meets their policyholders expectations, improves efficiency as well as meeting current and future regulatory requirements. Early on, Antigonish elected to go with a Cloud model, which has really helped to improve efficiencies within their office and ‘work from home’ strategies. In addition to an improved digital experience for their policyholders and agents, Antigonish will have heightened Reporting & Business Intelligence abilities as well as a seamless path towards IFRS17 compliance.
“We decided in 2019 that it was time to take a stronger focus on technology to enable our team and agents to better service our policyholders and community. We wanted to select a partner that would work with our team through this significant ‘Change Management’ process, but also have a partner where we saw an evolving future of technology. I am pleased to confirm that Cognition+ has delivered on both of these promises. I am extremely proud of the hard work and dedication of the Antigonish team to make this transformation a reality. This was accomplished during a ‘Global Pandemic’ and while it had a small effect on our timelines, we still achieved our overall goal of being live in 2020. Since we had moved to the cloud early in 2020, this enabled us to have some of our employees work from home during the early days of the pandemic, which helped us to keep this project on track. Our team is enjoying having increased access to a larger mutual insurance community on technology to share ideas and insights. We’re very excited by the direction Cognition+ is taking on moving their whole community forward and providing improved communication and distribution methods for our agents and policyholders.’, outlined Brian Morgan, General Manager of Antigonish Farmers’ Mutual Insurance Company. “Our community can be confident that Antigonish will continue to support their needs for many years to come, and that in times such as these our team is safe and available to help.”
“We are privileged and delighted to have Antigonish Farmers’ Mutual as part of our Client-Owner community! The Antigonish team has worked extremely hard in less than optimal conditions to ensure the success of their IBS® project. This implementation and partnership will allow Antigonish to have a defined and flexible approach to leverage further technology for driving business strategies forward”, says Cognition+ President & CEO, Matthew Scott. Scott adds, “Cognition+ delivers innovative insurance solutions through a Client-owner business model whereby our Clients are also shareholders. With the accelerated pace and strategic importance of technology, we know our Clients are well positioned for future growth and success. Our Mutual insurers, have full control of their investment and digital strategy, which is built upon the common goals and strengths of the Mutual Insurance community.”
About Antigonish Farmers’ Mutual Insurance Company (AFMI)
Antigonish Farmers’ Mutual Insurance Company is a locally owned and run insurance company specializing in property insurance. Located in Antigonish, Nova Scotia, we have been serving the insurance needs of our policyholders in Northeastern Nova Scotia since 1910. Operating as a Mutual, we are owned by our policy holders, who may share in any profits generated by us.
We offer property and liability insurance for homes, mini homes, seasonal residences, farm operations, and fishing boats and equipment. We are also able to provide automobile insurance through our wholly owned subsidiary, Farmers’ Mutual Insurance Agency. With agents located throughout Nova Scotia, you can count on us to fulfil your insurance needs.
About Cognition+ Inc.
Cognition+ is an innovative software provider that has a fully integrated insurance back office solution, which is used by thirty-two Mutual Insurance Companies across Canada. Cognition+ has a proven track record with a focus on client requirements and product quality. Cognition+, established in 1993, is wholly owned by Canadian Mutual Insurance Companies with the mission of providing comprehensive and flexible solutions for its clients. For more information, visit gocognition.com.
SOURCE: Cognition+Tags: Antigonish Farmers' Mutual Insurance Company (AFMI), Cloud, Cognition+, Core Systems Modernization, IFRS 17, legacy system replacement, legacy systems, platform, Transformation