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Policy Works helps Wilson Insurance go paperless

Background

Wilson Insurance was established in 1930 as a small one-person operation in downtown Fredericton, New Brunswick selling life, auto, fire, business and home insurance. Today, it is one of the province’s largest brokerages, offering a broad array of insurance products and risk management solutions to commercial and personal lines clients throughout Central New Brunswick. While the business has grown in stature and size, Wilson Insurance still maintains a family ownership with David J. Wilson as President.

Commercial-Lines Challenge

With a 50/50 split in premium volume between personal and commercial lines respectively, Wilson Insurance sought to overhaul its paper-based file management system for business insurance clients. It wanted an electronic commercial solution that would integrate seamlessly with its broker management system: The Agency Manager (TAM). It was also eager to provide its 14-member commercial team of account managers and account executives with a user-friendly, consistent and efficient application. Wilson Insurance signed on with Policy Works in 2006.

Solution

Up until three years ago, Wilson Insurance’s commercial insurance department had bulky file cabinets full of paper-based files that served as the brokerage’s organizational base for business clients. A management decision to revamp how the brokerage handles commercial accounts signaled the end of hard copy storage and a new era of online, multi-user access files available at the click of a mouse. That decision brought the Policy Works commercial insurance solution to Wilson Insurance.

“Needless to say, we no longer have file cabinets or hard copies of commercial files,” says Charlene Worrall, Commercial Account Manager for Wilson Insurance. “There is a little more space around here.”

If we have any questions, it is just a matter of picking up the phone or sending off an email. We get answers very quickly.

Charlene Worrall, Commercial Account Manager

A bit of extra elbowroom is not the only advantage that this commercial solution brought to the brokerage. “One of the main benefits of Policy Works is consistency,” notes Worrall. “All information is entered in the system the same way, and people can access it easily. Our procedures revolve around that consistent approach. When we hire new commercial account executives, they get trained on Policy Works.”

That consistency is critical to a commercial lines department that may be dealing with accounts of varying sizes, types of business and levels of exposure. For Worrall, Policy Works provides a methodical framework for producers to gather all relevant information from clients for underwriting purposes.

“With Policy Works, when the producers go out and get the information from clients, they are going to get it all – it is very consistent,” says Worrall. “Before, because there was no true commercial application per se, sometimes they were lacking information when they went to market.”

The other key benefits of Policy Works for Wilson Insurance are the ability to provide high-quality presentations for commercial prospects and seamless remarketing for established clients. All this can be done with much greater efficiency than before, according to Lisa Colwell, also a Commercial Account Manager.

“On a day-to-day basis, Policy Works is very efficient because you are not looking or searching for files,” Colwell says. “You get the information right at your fingertips.”

That quick access to information and ease of use helps the brokerage in its communication with prospective customers. “Policy Works has an excellent proposal feature,” Colwell observes. “So when we are quoting, we use the proposal feature to have a professional, color package to present to a client, where we can actually insert photos of their business and location.”

Remarketing for existing clients is also a snap with Policy Works, according to Worrall. “For an existing client, especially a larger one, remarketing is much faster and easier,” she notes. “One of our account executives recently wanted to remarket a file and it was just a matter of going into Policy Works, selecting the remarket feature and emailing it off within a half hour to four markets.”

The integration between Policy Works and TAM has made that process even more efficient, according to Worrall. “With this integration, you automatically have the notes on the file, whereas in the past we had to dig through the hard copies and update all information manually,” she says. “Now, all the underwriting information we need is in Policy Works; it is just a matter of going through it and remarketing.”

“Another great feature of Policy Works is that their upgrades are no problem,” notes Worrall. “We had our IT person come in and within half an hour it was done – there was virtually no down time.” A tangible benefit of Policy Works 6.3 is the availability of CSIO-approved certificates of insurance, which can be sent electronically to clients.

This ease of implementation extends to service support and ongoing training, according to Colwell. “If we have any questions, it is just a matter of picking up the phone or sending off an email. We get answers very quickly. Another thing is that Policy Works sends out weekly tips on how to make the most of the application. They give screen shots and detailed descriptions on certain features and enhancements. It is a great tool.”

One of our account executives recently wanted to remarket a file and it was just a matter of going into Policy Works, selecting the remarket feature and emailing it off within a half hour to four markets.

Charlene Worrall, Commercial Account Manager

For Worrall, Policy Works has represented a huge time saver in terms of commercial lines efficiency and productivity for Wilson Insurance. ”It is just a matter of clicking in through TAM and accessing Policy Works to get the information you need right there in front of you,” she says. “I don’t think we will be needing the file cabinets anymore.”