INCREASE IN POLICY SUBMISSIONS
REDUCTION IN TIME TO DEPLOY NEW LINES OF BUSINESS IN NEW STATES
DECREASE IN UPGRADE COSTS AND 38% IMPROVEMENT IN UPGRADE TIME
IMPROVEMENT IN AVERAGE CLAIMS RESPONSE TIME
"Migrating to Guidewire Cloud has provided us with enhanced features and much better usability. And, we now easily integrate the best-in-class insurtech solutions that are part of Guidewire Marketplace and the PartnerConnect ecosystem."
Brad Lontz, CIO
CopperPoint
CopperPoint, a leading provider of workers’ compensation and commercial insurance for 100 years, wanted to trade its legacy on-premise technology stack for a cloud-native solution to achieve enhanced scalability, accelerated expansion, and improved customer and agent experiences.
Since 2016, CopperPoint used Guidewire InsuranceSuite to expand from one state and one line of business to 21 states and seven lines of business. By 2023, the company sought to streamline operations after recent acquisitions, reduce costs, and provide a more seamless experience. However, its on-premises systems posed challenges, including costly upgrades, inefficient data access, and difficulties supporting a geographically distributed workforce
CopperPoint sought to expedite the integration of an acquisition of Alaska National Insurance Company into its technology infrastructure and realize value quicker. To do this and evolve, it migrated to Guidewire Cloud by utilizing a combination of Guidewire Cloud, AWS services, and other key technology solutions.
“Migrating to Guidewire Cloud and building a surrounding AWS architecture has been a transformative initiative for CopperPoint,” said Brad Lontz, CIO of CopperPoint. “The cloud-native solution has not only streamlined our operations and improved the user experience, but it has also positioned us for accelerated growth and expansion.”
Key benefits of the migration include a 30% reduction in time to deploy new lines of business, and a 96% decrease in upgrade costs.
“Migrating to Guidewire Cloud has provided us with enhanced features such as Submission Intake (in PolicyCenter) and much better usability,” Lontz said. “We’re seeing a 40% average increase in utilization of the ACORD submission intake process on a year-over-year basis. And we can now easily integrate the best-in-class insurtech solutions that are part of Guidewire Marketplace and the PartnerConnect ecosystem.”
They improved data access with a data lake using Guidewire Cloud Data Access and Databricks. And, migrating to Guidewire Cloud has provided CopperPoint with the ability to quickly integrate solutions from Guidewire Marketplace, including integration with SmartCOMM from Smart Communications. With this integration, CopperPoint has enhanced policy workflows, improved customer experience.
CopperPoint also headed to Marketplace to integrate a texting solution from Hi Marley across the enterprise. “We improved responsiveness and claimant satisfaction,” Lontz said. “72% of adjusters successfully adopted it in just four months, and the integration led to an almost 50% improvement in average response time. And, the customer satisfaction scores are definitely up."
The insurer continues to enhance its digital experience by incorporating AI for predictive analytics, enabling paperless communication, and integrating agency management systems. By adopting a cloud-first strategy, CopperPoint is well-positioned for future growth and continued technological advancements.
"With the help of the Guidewire community, we have built our own deep data engineering solution that feeds data to our on-premise data warehouse and our BI platform. It is resilient, scalable, fault-tolerant, and fully capable of all the expansion and growth we will see in the next few years."
Sid Dixit, Senior Architect
CopperPoint
