From streamlining systems to competitive advantage.
Phoenix Group, the largest insurance consolidator in the U.K., had acquired dozens of companies—and almost as many modeling systems. Add to this the mountain of new insurance products and regulations, and the Phoenix actuaries simply could not keep pace.
The company turned to Integrate®, and the improvements have been dramatic. More than 900 manual processes have been reduced to 44, and the time it takes the company to produce quarterly data has been cut from four months to just three days. By the end of three years, the savings generated had paid for the project three times over.
Most importantly, Phoenix now generates information in a cost-effective and timely manner, which has positioned it to achieve its biggest goal of all: a competitive advantage.