LV= is recognised in the industry as an innovator. With the desire to break free from a heavy reliance on spreadsheets and manual processes currently in use, the team at LV= were drawn to INSTANDA which offered a quicker way to the solution.
The initial objective was to apply new SaaS technology to an area of existing product management and deployment in a way that would help or overcome issues of bandwith, multiple site working and provide increased operating efficiencies and management control.
The product in question was LV=’s most complex product, covering eleven diverse sections including material damage, terrorism, employers and products liability and road risks – all rated separately and designed to allow rapid quoting of specific sections.
It soon became clear that INSTANDA offered significant, additional benefits to the business such as greater access to data and the bigger business view. The team has recognised the potential positive impact that INSTANDA can bring – even at this early stage.
And in terms of future business, INSTANDA opens up all sorts of possibilities: its potential to enable an improved customer interaction and the ability to develop new functionality for brokers should allow LV= to get out ahead of the market in this area.
The project was handled through two phases:
Phase 1: proof of Concept replicating the spreadsheet used for the last 3 years and delivered by the INSTANDA team in the 3 months – compared to average cycle times for LV=of 12 months to reach POC/pilot stage.
Phase 2: Go-Live including a range of workflow, process and documentation enhancements, full UAT for the end-to-end platform, security (pen testing) data migration, trainings and business change.
Speaking of the experience of working with INSTANDA, LV= have said.
“It’s been a real partnership. We’ve been in this together. You took the time to listen to our needs and we value your very interactive, flexible and adaptable approach. We’ve seen you deliver to timelines and make sure we kept everything on track. It’s been very easy. I would highlight recommend you”.