Inside EMPLOYERS' Transformation Strategy
Focus On Self-Service
With the agent portal implemented and in use, Hallman is now focused on policy system modernization. The new system includes several purchased software products that are integrated into an Oracle CRM cloud service and EMPLOYERS' legacy policy system, he reports. It will feature a policyholder dashboard and portal that give customers the ability to log in, review their policies, see the status of previous checks and payments, and manage their preferences for e-payments and e-delivery.
Policyholders are limited in self-service today, Hallman says, but the new system will deliver a consistent, standardized view and value back to the customers. It has been undergoing implementation and rollout for four to five months and is expected to launch by the end of this year.
In addition to multiple system transformations, EMPLOYERS is venturing into the big data space with a new predictive modeling and predictive analytics program. The company is starting to fully embrace the need for big data, says Hallman. It has recognized the need to take the extensive data within the company and merge it with shared third-party data in order to improve risk management decisions and profitability.
The EMPLOYERS reporting team has been reorganized and renamed the analytics team; reporting is now a subset of analytics operations. "In regards to analytical capabilities, we're going to apply them to underwriting first to look at how we apply pricing to specific risks," Hallman explains. "Then we're going to apply them to claims.
"The third phase will be around marketing and where we can use predictive analytics and predictive modeling through marketing," Hallman says. The insurer has partnered with KPMG and recently started determining requirements and setting initial expectations for the program.
The influx of new technology and programs has required the recruitment of employees with modern technical skill sets in big data and analytics. Though the recruitment of tech talent is often difficult in the insurance industry, Hallman explains that the work environment at EMPLOYERS lends itself to the development of young professionals in the field.
He meets with all new hires within the department to review the importance of innovation, its alignment with business processes, and the constant need to drive improvement and automation in order to boost return on investment.
"The company allows innovation to really thrive," he emphasizes. "We really believe in the need to challenge the status quo." IT professionals want to be in an area where they can develop new ideas using the latest technology, says Hallman, and EMPLOYERS provides them with such an opportunity.
Key successes are recognized with an annual CIO Achievement award. "Recognition of these successes is key to ensuring continued positive momentum in driving business efficiencies, profitability, and a positive value-add to our customer experience," says Hallman.
Kelly Sheridan is the Staff Editor at Dark Reading, where she focuses on cybersecurity news and analysis. She is a business technology journalist who previously reported for InformationWeek, where she covered Microsoft, and Insurance & Technology, where she covered financial ... View Full Bio
Tweet This