Test Results: 44% Response Time Improvement Over Previous On-Premise Environment
Insurity, Inc., a leading provider of cloud-based solutions and data analytics for the world’s largest insurers, brokers, and MGAs, today announced that its cloud performance test results with Nationwide, a Fortune 100 company and one of the largest and strongest diversified insurance and financial services organizations in the United States, have shown performance improvements as high as 44% over its previous on-premise environment. Testing was applied to Insurity’s Policy Decisions solution, which has been used by Nationwide on-premises for over 20 years, and was just recently migrated to Insurity’s cloud-based platform.
"As one of the world’s largest insurance companies, we handle and process tremendous amounts of important policyholder information every day," said Mike Nance, director of IT applications at Nationwide E&S. "We were extremely pleased with the results of Insurity’s performance testing, which will translate to both internal efficiency improvements, as well as quicker and more efficient experiences for our agency partners and policyholders."
Leveraging Insurity’s industry-leading cloud platform, Nationwide saw major speed advantages in core functions within its policy administration system, which handles over $800 million in direct written premium (DWP). Transaction types tested, and their respective performance improvements, include writing new business (44% improvement), endorsements (31% improvement), reinstatements (35% improvement), and cancellations (43% improvement). All testing was performed under peak hour conditions.
"We’ve been a proud partner of Nationwide for over 20 years, providing them with the latest technology solutions to manage their policies across many different lines of business including general liability, auto, workers’ compensation, umbrella, and inland marine," said Michele Shepard, chief revenue officer at Insurity. "Nationwide joins over 200-plus clients that have already migrated to our cloud-based offering, taking advantage of our leading cloud and data security expertise and experiencing first-hand the types of performance increases that Insurity’s cloud platform is able to deliver."
Insurity’s Policy Decisions solution is built for high-volume and package policy processing, supports over 20 commercial, bureau-based lines of business, and leverages the largest API ecosystem for connecting third-party data and services in the industry. By moving their policy administration system to the cloud, Nationwide has gained a more agile, flexible environment that more efficiently captures and processes data, and cost-effectively scales based on changing workload requirements.
As the industry’s cloud computing pioneer, Insurity has over 200 cloud deployments, which is more than any other provider in its space. For more information on the Insurity’s cloud-based platform and solutions, visit www.insurity.com.
Insurity is a leading provider of cloud-based solutions and data analytics for the world’s largest insurers, brokers, and MGAs. Through its best-in-class digital platform and with unrivaled industry experience and thought leadership, Insurity is uniquely positioned to deliver exceptional value, empowering clients to focus on their core businesses, optimize their operations, and provide superior customer experiences. With users worldwide and more cloud-based deployments than any other core system provider in the insurtech space, Insurity is trusted by 15 of the top 25 property/casualty carriers in the US. For more information, visit www.insurity.com.
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor’s. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com. Follow us on Facebook and Twitter.
Fusion PR on behalf of Insurity
Ross Blume, (310) 481-1431