Liberty Mutual uses new technologies and agile approach to develop cloud-based solution providing competitive advantages
Liberty Mutual Insurance leveraged the latest cloud technologies and agile development methods to quickly bring to life a strategic state-of-the-art single business platform, providing a host of advantages to the insurer’s group benefits and individual life and annuity operations.
“Technology is rapidly transforming all of Liberty Mutual’s businesses,” says John Heveran, senior vice president, Liberty Mutual Insurance and chief information officer of Commercial Insurance. “This was an opportunity to collaborate with some of the industry leaders in technology, along with our business partners, to bring a winning set of capabilities to market rapidly and effectively.”
Liberty Mutual’s strategic approach to technology is designed to meet the needs of the company’s business units by drawing on the latest standards, buying promising solutions, tailoring them to gain differentiation, and optimizing those solutions for speed and flexibility in order to consistently deliver best-in-class solutions.
“We set an aggressive goal to bring new products to market in just nine months,” says Rebecca Schechter, executive vice president of Commercial Insurance and president of Liberty Mutual Benefits. “To best meet customer expectations and reach our goal, we knew we needed a technology platform that allowed for quick, iterative development, mirroring our agile business approach.”
Liberty Mutual leveraged EIS Group’s EIS Core Insurance Suite™ to meet the unique needs of the company’s benefits business unit to speed time to market, increase security, provide access from a range of devices, and offer bilingual capabilities. The new single cloud-based platform, Serview™, will replace a number of stand-alone systems to simplify data movement and consistency and to provide geographic and product scalability and cost efficiency.
“EIS Group is pleased to be a strategic technology partner for Liberty Mutual, and we’re proud to continue our track record of rapid software implementations,” says Alec Miloslavsky, chairman and chief executive officer, EIS Group. “The unprecedented speed of this new solution’s deployment is a clear testament to the importance of partnership, the value of Liberty Mutual’s forward-looking strategic approach to IT, and the advanced architecture and functionality of the EIS Suite™.”
In addition to the core software platform, Liberty also chose Amazon Web Services (AWS) as a critical environment to speed implementation and innovation. AWS provides unique advantages as a result of its leading edge cloud technology, which Liberty has been able to extend beyond the core insurance operations allowing for complementary innovations.
“Liberty Mutual recognized how cloud technology could increase their speed and agility, and offer more visibility into their operations, all while leveraging world-class security practices,” said Frank Fallon, vice president of Financial Services, Amazon Web Services, Inc. “We are pleased to have collaborated with the Liberty Mutual and EIS teams to make that vision a reality, as Liberty Mutual is taking an innovative approach to its use of cloud technology to better support its business goals.”
The development of the new single platform is the latest in Liberty Mutual’s Information Technology operation’s ongoing efforts to develop innovative, best in class solutions for the insurer’s business units.
About Liberty Mutual Insurance
Liberty Mutual Insurance helps people preserve and protect what they earn, build, own and cherish. Keeping this promise means we are there when our policyholders throughout the world need us most.
In business since 1912, and headquartered in Boston, Mass., today Liberty Mutual is a diversified insurer with operations in 29 countries and economies around the world. The company is the fifth largest property and casualty insurer in the U.S. based on 2015 direct written premium data as reported by the National Association of Insurance Commissioners. Liberty Mutual is ranked 73rd on the Fortune 100 list of largest corporations in the U.S. based on 2015 revenue. As of December 31, 2015, the company had $121.7 billion in consolidated assets, $102.5 billion in consolidated liabilities, and $37.6 billion in annual consolidated revenue.
Liberty employs more than 50,000 people in over 800 offices throughout the world, and we offer a wide range of insurance products and services, including personal automobile, homeowners, accident & health, commercial automobile, general liability, property, surety, workers compensation, group disability, group life, specialty lines, reinsurance, individual life and annuity products.
You can learn more by visiting www.libertymutualinsurance.com.