The Challenge
Addressing Critical Transformation Barriers
The client, a mid-sized Life and Annuity carrier, provides a diverse range of Life, Annuity, and Health products and is renowned for its unwavering commitment to policyholders, agents, and communities.
The client encountered several obstacles on its transformation journey. Fragmented systems, including disconnected customer experience (CX), operations, and integration processes, created inefficiencies and bottlenecks across operations. The legacy infrastructure also posed scalability and growth constraints, limiting the carrier’s ability to expand product offerings and distribution channels effectively. Additionally, the aging workforce and the scarcity of subject matter experts (SMEs) due to retirements compounded operational risks. The absence of comprehensive system documentation further introduced uncertainties in planning and executing the transformation. Lastly, concerns over budget overruns and potential schedule delays loomed large, threatening the success of the modernization initiative.
The Outcome
Enabling Scalable and Reliable Growth
Sutherland deployed its TPA EDGE platform, powered by LIDP Titanium, to address the client’s modernization challenges effectively. The transformation strategy included two distinct instances. The Growth Instance integrated operations and technology to support seamless product additions and market expansion, while the Conversion Instance used a Managed SaaS construct to migrate existing business, closed books, and legacy systems efficiently.
The integrated conversion toolkit supported over 1,000 Life and Annuity product variations out-of-the-box, significantly accelerating and de-risking the conversion process. Sutherland’s accelerators and automation platforms facilitated parallel workstreams, enabling 100% of new product launches and transitioning 70% of policies to the target operating model within the first year. The remaining conversions were completed within two years, ensuring minimal disruption to ongoing operations.
Modern ecosystem expansion included integrating client portals, enterprise applications, and data stores into a reliable, cloud-hosted infrastructure. This future-proofed the ecosystem and created a cohesive digital-first operating model. Automated workflows enhanced user experiences, reduced training requirements, and ensured continuous process improvements, setting the foundation for scalable and efficient operations.
The carrier achieved significant efficiency gains by eliminating inefficiencies through comprehensive ecosystem upgrades and process improvements. Transitioning from on-premises legacy systems to a cloud-hosted infrastructure reduced technical debt, while the creation of a unified platform as the “one system of truth” provided scalability and resilience, preparing the carrier for long-term operational success.
The TPA EDGE solution delivered exceptional results, significantly improving the client’s operational performance and business outcomes. The carrier realized a 40% reduction in unit costs of operations through optimized resource allocation and the elimination of inefficiencies. Time-to-market for new products accelerated, achieving 2X-3X faster product launches and enhancing the carrier’s competitive position.
Customer satisfaction saw substantial improvements, with Net Promoter Scores (NPS) increasing by over 10 points for both agents and policyholders. Claims management processes were refined, resulting in a 15-20% reduction in claims leakage and minimizing unnecessary payouts. Additionally, streamlined workflows increased operational accuracy, leading to a 20% reduction in suspense rates, further enhancing overall efficiency.
That’s Digital Performance Unlocked and Measurable Outcomes Delivered!
With Sutherland TPA EDGE, the client is now positioned for scalable growth and long-term operational resilience. The modernized ecosystem, enhanced digital capabilities, and cloud-hosted infrastructure equip the carrier to deliver exceptional user experiences, expand market reach, and confidently navigate market challenges.
“Your dedication and contribution to the projects are phenomenal. I appreciate the entire team’s efforts in reducing discrepancies and errors, bringing them under control.”
– Pam, Client Representative
Reduction in Unit Costs of Operations
Reduction in Claims Leakage
Suspense Reduction
Transform your Underwriting Operations with Sutherland’s Digital Solutions
Services
Cloud Engineering, Application Modernization
Industry
Insurance