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By Pyramid Solutions An Organization's Tale of Triumph

An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

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Page 1: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

to Become aLeading P&C

Insurance Provider

By Pyramid Solutions

An Organization's Taleof Triumph

Page 2: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

Stateside Insurance is aFortune 500 provider

operating in all 50 states.

It had a solid track recordin the P&C market butwanted to improve its

competitive advantage.

Page 3: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

Stateside had a problem though.

Page 4: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

Stateside had a problem though.

Houston, Wehave a

problem...

Page 5: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

Stateside had a problem though.

Houston, Wehave a

problem...

Their UnderwritingDepartment wasunder-performing.

Page 6: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

Stateside had a problem though.

Houston, Wehave a

problem...

Their UnderwritingDepartment wasunder-performing.

Page 7: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

Here's why:

Page 8: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

Here's why:

The departmentreceives large

pieces of content invarious formats

every day without away to process it all

efficiently.

Page 9: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

Here's why:

The departmentreceives large

pieces of content invarious formats

every day without away to process it all

efficiently.

Page 10: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

Here's why:

The departmentreceives large

pieces of content invarious formats

every day without away to process it all

efficiently.

They're plagued bymanual activities:

Page 11: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

Here's why:

The departmentreceives large

pieces of content invarious formats

every day without away to process it all

efficiently.

They're plagued bymanual activities:

Jumping betweensystems of record andthird-party applications

Page 12: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

Here's why:

The departmentreceives large

pieces of content invarious formats

every day without away to process it all

efficiently.

They're plagued bymanual activities:

Jumping betweensystems of record andthird-party applications

Side-by-side documentcomparisons

Page 13: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

Here's why:

The departmentreceives large

pieces of content invarious formats

every day without away to process it all

efficiently.

They're plagued bymanual activities:

Jumping betweensystems of record andthird-party applications

Side-by-side documentcomparisons

Extensive searchingthrough documents tofind relevant information

Page 14: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

Here's why:

The departmentreceives large

pieces of content invarious formats

every day without away to process it all

efficiently.

They're plagued bymanual activities:

Jumping betweensystems of record andthird-party applications

Side-by-side documentcomparisons

Extensive searchingthrough documents tofind relevant information

Paper signatures andverbal approvals andconsent

Page 15: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

Here's why:

The departmentreceives large

pieces of content invarious formats

every day without away to process it all

efficiently.

They're plagued bymanual activities:

Jumping betweensystems of record andthird-party applications

Side-by-side documentcomparisons

Extensive searchingthrough documents tofind relevant information

Paper signatures andverbal approvals andconsent

They heavily rely on the IT

Department tomake any changes

with the system-big or small.

Page 16: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

Basically, they constantly feellike this

Page 17: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

Basically, they constantly feellike this

Page 18: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

Basically, they constantly feellike this

Page 19: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

Basically, they constantly feellike this

Page 20: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

To overcome these challenges, theyreached out to us -

Page 21: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

To overcome these challenges, theyreached out to us -

Page 22: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

To overcome these challenges, theyreached out to us -

Say hi to Some of the Team!

Page 23: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

We knew in order for Stateside to become morecompetitive, it needed an enterprise-wide content

management strategy, solution, andimplementation roadmap that took them from

intake to completion for underwriting.

Page 24: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

We knew in order for Stateside to become morecompetitive, it needed an enterprise-wide content

management strategy, solution, andimplementation roadmap that took them from

intake to completion for underwriting.SAY WHAT?!

Page 25: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

We knew in order for Stateside to become morecompetitive, it needed an enterprise-wide content

management strategy, solution, andimplementation roadmap that took them from

intake to completion for underwriting.SAY WHAT?!

Let me break it down for you...

Page 26: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

A standardized plan to manage documentsacross the entire organization to get rid of

silos and individual contributor views.

We knew in order for Stateside to become morecompetitive, it needed an enterprise-wide

content management strategy, solution, andimplementation roadmap that took them from

intake to completion for underwriting.

Page 27: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

A standardized plan to manage documentsacross the entire organization to get rid of

silos and individual contributor views.

We knew in order for Stateside to become morecompetitive, it needed an enterprise-wide content

management strategy, solution, andimplementation roadmap that took them from

intake to completion for underwriting.

An underwriting software thatautomates processes.

Page 28: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

A standardized plan to manage documentsacross the entire organization to get rid of

silos and individual contributor views.

We knew in order for Stateside to become morecompetitive, it needed an enterprise-wide content

management strategy, solution, andimplementation roadmap that took them from

intake to completion for underwriting.

An underwriting software thatautomates processes.

A comprehensive project plan.

Page 29: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

So what will all thatfancy stuff do for

stateside Insurance?

Page 30: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

So what will all thatfancy stuff do for

stateside Insurance?

Great question!

Page 31: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

1. Aggregates data from siloed systems of recordinto a role-based user interface.

Page 32: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

1. Aggregates data from siloed systems of recordinto a role-based user interface.

2.Efficiently processes unstructured data andassigns it to underwriters.

Page 33: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

1. Aggregates data from siloed systems of recordinto a role-based user interface.

2.Efficiently processes unstructured data andassigns it to underwriters.

3.Allows users to split large documents into smallerones, merge multiple documents into one, and re-index documents.

Page 34: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

1. Aggregates data from siloed systems of recordinto a role-based user interface.

2.Efficiently processes unstructured data andassigns it to underwriters.

3.Allows users to split large documents into smallerones, merge multiple documents into one, and re-index documents.

4.Enables Stateside to define, manage and controlfunctional access by role.

Page 35: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

5.Allows users to tag documents to indicatelocation and purpose and bookmark importantdocument pages.

Page 36: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

5.Allows users to tag documents to indicatelocation and purpose and bookmark importantdocument pages.

6.Provides real-time dashboards that monitor allactivities in the underwriting process.

Page 37: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

This ultimately led toStateside's underwritersimproving productivity by

30%.

Page 38: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

How?!

Page 39: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

How?!

Because these areasexperienced dramaticperformance CHANGES:

Page 40: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

How?!

Because these areasexperienced dramaticperformance CHANGES:

REDUCEDCYCLE TIMES

INCREASEDCOMPETITIVEADVANTAGE

NO MORE JUMPINGBETWEENAPPLICATIONS

Page 41: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

How?!

Because these areasexperienced dramaticperformance CHANGES:

REDUCEDCYCLE TIMES

INCREASEDCOMPETITIVEADVANTAGE

IMPROVED CLIENT & AGENT

SELF-SERVICE CAPABI

LITY

DECREASED

OPERATING

EXPEN$E$

MORE ACCURATECLAIMS ANALYTICS

NO MORE JUMPINGBETWEENAPPLICATIONS

Page 42: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

It's safe to say Stateside was pretty happy.

Page 43: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

It's safe to say Stateside was pretty happy.

Page 44: An Organizations Tale of Triumph to Become a Leading P&C Insurance Provider

To learn more about Pyramid Solutionsvisit PyramidSolutions.com.

Thank you!@PyramidECM#PyramidSolutions

Pyramid Solutions, Inc.

This was a fictional story created to demonstrate Pyramid Solutions' life underwriting solutions. Stateside Insurance is not a real insurance company or client.