Allied World Assurance Company
Allied World Assurance Company (acquired Darwin Professional Underwriters in 2008), is a global provider of innovative property and casualty insurance, including a variety of management liability and other professional liability lines. As a start-up in 2003, Darwin needed a platform upon which they could build a business — no matter which path the business decided to take. Given their aggressive growth schedule, a flexible, tool-based platform capable of rapidly introducing unique products in the marketplace was critical.
Ease of Doing Business through Self-Service
The primary objective of the company was to deliver high automation to a multi-tiered distribution channel via a technology platform that assured they could be nimble and responsive to their customers.
Allied World implemented OneShield® Policy to enable a complete underwriting infrastructure that reduced an industry standard 30-day process down to 10 minutes.
The system has been evolving since its first launch in 2004, when Bob Asensio, executive vice president, information technology for Bermudabased Allied World, first conceived and configured OneShield Policy to provide self-service underwriting, rating and policy administration capabilities to support producers selling professional liability insurance to the small to medium-size business market.
“In Darwin’s formative years, OneShield Policy helped us establish our brand. After Allied World’s acquisition, we rolled a complete set of complex products onto OneShield Policy.
Flexibility and Self-Sufficiency Lead to Success
With application flexibility and the tool set in the right hands, Allied was able to automate sophisticated underwriting processes to allow retailers, wholesalers and MGA’s to better service their insureds.
“We had one chance to get it right at the beginning,” said Asensio. “That’s why we picked a technology that really had no dead ends.”
Asensio added, “The idea that you could configure a system to be nimble enough to manage change independently was essential to us. Total cost of ownership and the time savings inherent to a flexible system that provided true speed to market were also extremely important requirements.” Asensio wanted to create a “simple yet entirely comprehensive” environment without being dependent upon a vendor and without having to build it from scratch himself.
OneShield Policy’s flexible toolset differentiated the system from other technology products and gave users the ability to do “pretty much anything” according to Asensio.
“We liked that everything was done within OneShield Policy and it was done in a consistent way,” said Asensio. “It enabled us to quickly address issues and respond to the needs of customers.”