LaPrairie Mutual Insurance Company
Supporting Strategic Growth and Enhancing Operational Efficiency with BriteCore
A Modern Solution for Legacy Challenges
LaPrairie Mutual Insurance sought a modern policy administration solution to replace its outdated legacy core insurance system, which caused operational inefficiencies and delays. After evaluating multiple vendors, LaPrairie saw a clear leader and selected BriteCore for its robust features and ease of use. Implementing the BriteCore Platform marked a significant step forward for LaPrairie, streamlining its operations and enhancing its ability to serve policyholders effectively.
Since adopting BriteCore, LaPrairie has experienced a number of immediate and expected benefits:
- Increased Operational Efficiency: Automated workflows have reduced policy processing times by over 30%, allowing staff to focus on higher-value tasks and improving overall productivity.
- Cost Savings: Process automation has significantly reduced LaPrairie’s operational and personnel costs.
- Improved Data Accessibility and Reporting: Enhanced reporting capabilities provide more accurate, timely insights, empowering LaPrairie to make data-driven decisions and respond more effectively to market changes.
These improvements have optimized LaPrairie’s day-to-day operations and positioned the company for future growth. With BriteCore’s modern, scalable core insurance platform, LaPrairie is better equipped to handle new business opportunities and adapt to evolving industry demands, ensuring long-term success and competitiveness in the marketplace.
About LaPrairie Mutual Insurance Company
LaPrairie Mutual Insurance Company, founded in 1874 in Sparland, IL, and now based in Henry, IL, recently celebrated 150 years in business. The company prides itself on its customer-centric approach, offering a range of tailored insurance products to meet the unique needs of its policyholders. With a commitment to growth and operational excellence, LaPrairie sought to modernize its legacy policy administration system and enhance its overall business processes.
Outgrowing an Inefficient Legacy System
LaPrairie's existing policy administration system suffered delays and inefficiencies, prompting a search for a more modern and effective solution. The incumbent vendor required LaPrairie to upgrade to a more expensive, cumbersome, and lower functionality version while informing them that they were on a three-year waiting list as they worked through an eight-year timeline to convert all of their mutual clients. Their incumbent vendor’s prolonged waiting period and the realization that some features LaPrairie relied on were unavailable on the new version raised concerns that they would be taking a step backward in their operational capabilities. These limitations hindered LaPrairie's ability to adapt swiftly to market demands and drove it to explore alternative policy administration solutions that could deliver a more robust, comprehensive platform.
Additionally, LaPrairie faced challenges with the existing system's manual processes and the need for integration capabilities, creating bottlenecks in its insurance operations. Their outdated quoting system was cumbersome, and the absence of automation further hindered policy processing and claims management. This inefficiency in their operations highlighted the need for a more advanced and user-friendly core insurance platform to streamline their business processes, enhance data accessibility, and support future growth and potential mergers.
Choosing BriteCore for Robust Features and Flexibility
LaPrairie began its search for a new policy administration solution after realizing that its existing outdated system was no longer meeting the company's business needs. They faced significant risk in remaining with their incumbent system as it could not keep pace with their operational demands. This realization prompted LaPrairie to explore alternatives that could offer a more immediate and comprehensive solution.
The BriteCore Platform stood out among other core system vendors for its robust feature set and flexibility. The platform's ability to provide seamless integrations, enhanced reporting capabilities, and a user-friendly interface aligned well with LaPrairie's business requirements. The team of core system experts at BriteCore demonstrated its advanced functionalities, such as streamlined workflows and automated processes, which could significantly reduce manual workloads and improve overall efficiency. These features, combined with BriteCore's reputation for quick deployment and responsive support, made it the preferred option for LaPrairie as they sought to enhance their insurance operations and better serve their agents and policyholders.
Driving Efficiency, Savings, and Growth
Since implementing the BriteCore Platform, LaPrairie is focused on achieving both immediate and long-term success metrics related to cost savings, operational efficiency, and agent satisfaction. The early positive results have proven the business ROI in shifting to BriteCore, including:
Agent satisfaction
Training agents on the new easy-to-use BriteCore Platform has ensured smoother transitions, quicker policy issuance, and higher satisfaction, improving service and competitive positioning.
Enhanced underwriting and claims processes
Integrating with third-party vendor services such as CLUE and JMI reports has streamlined claims processing and enhanced the accuracy and speed of underwriting, boosting overall efficiency.
Cost savings
Automating business processes have reduced LaPrairie’s staffing needs, thus saving on salaries and benefits. Additionally, moving to a cloud-based system has reduced monthly fees, thereby positively impacting the company's bottom line.
LaPrairie continues to explore new BriteCore Platform capabilities that further increase the value gained from their new modern core insurance system. For instance, LaPrairie plans to leverage the BriteCore policyholder portal, incorporate additional third-party integrations, and expand into new markets. These strategic moves are expected to drive growth, enhance the customer experience, and further improve operational efficiencies.
