A case study by Praxent⌘
Policy system migration accelerates LPL insurance carrier’s underwriting by 90%
A leading provider of professional liability insurance for judges and lawyers needed to uplevel their digital experience.
The client engaged Praxent to design and develop a custom portals to accelerate their underwriting team and enable policyholders to apply, renew, and manage their policies digitally.
Digital policy renewal experience
Policyholder portal
Underwriting portal and reporting dashboard
Policy administration system integration (ISI)
Payments integration (Invoice Cloud)
- 90% faster turnaround time for new applications and renewals
- Increased conversion of digital customers
The challenges
Inefficient Account/Renewal Processes
The account creation and renewal processes were cumbersome, relying on outdated PDF methods, leading to customer dissatisfaction and slow underwriting turnaround time.
Limited Policyholder Portal Adoption
The existing customer portal, lacking in modern features and functionalities, did not fully serve user needs, resulting in a sub-optimal user interface and experience.
Limited Underwriter Visibility
The underwriter dashboard provided limited visibility into the status and content of new account and renewal applications, impacting efficient processing and decisioning.
The vision
Integrated Systems
Thorough integration of ISI Enterprise (policy-administration system) for a seamless, automated experience.
Fully Digital Renewals
A streamlined, user-friendly application and renewal process for increased efficiency.
Superior Servicing
Policyholder servicing that blends the personalization of humans and the efficiency of digital.
What the client had to say
President and CEO
Digital Application and Renewals
A lengthy, complex PDF form that customers needed to complete not only on the initial application, but also for each renewal, was replaced with a modern and intuitive web application:
- Straight-through coverage application and renewals.
- Customers can save and resume draft applications.
- Intelligent wizard customizes application questions based on customer responses, significantly simplifying the process.
- Reduced friction in the application process.
- Status tracking of new account applications and renewals.
- Reduces manual data entry significantly increasing underwriting efficiency.
Underwriting Portal
The new underwriting portal provides an intuitive interface for underwriters and administrators, streamlining their daily operations through:
- Real-time application status updates instead of waiting for an emailed pdf form.
- Submit individual, specific or batch applications to the policy-administration system.
- Reject, delete or download applications from a single source of record.
- Secure sharing of policyholder data by removing email clients from the process.
- Review and edit application data from a queue and save their changes prior to submission to the policy administration system.
- Automated duplicate record checks in the policy administration system on submission.
Self-Service Policyholder Portal
The new customer portal presents a modern digital experience to customers and seamlessly surfaces information from their policy-administration system increasing self-service and reducing customer service tickets. The portal offers:
- Access to critical information such as policy number, insured members, expiration, renewal date, premiums
- Certificate of Insurance
- Online payments and billing through Invoice Cloud
- A modern digital-first look and feel
- An intuitive design that places customer needs at the center of the workflow.
A partner from end to end
UX Strategy
Digital Branding
Portal UX Design
Reusable UI Design System
Architecture + Hosting Strategy
Systems Integration
Agile Project Management
Portal Accelerators
Custom Portal Development
The result?
A 90% reduction in turnaround time for new applications and renewals.
What the client had to say
President and CEO