Lombard Insurance integrated world-class claims and supplier management software from insurance technology specialists Codeplex as a key step in their strategy to adopt a more sustainable business model. And while Lombard Insurance COO Shanaz Bangie and Senior Procurement Manager Kirk Van Wyk were well aware of Codeplex’s success record, neither quite realised the magnitude of the systems’ capabilities until they started experiencing it in action.
A New Era in Omniscience
When Lombard engaged with Codeplex in 2023, efficient containment of costs and better management of SLAs (Service Level Agreements) with service providers were highlighted as a key need for both Van Wyk and Bangie. “We cannot manage what we can’t see,” they said. One of the many reasons they were drawn to Codeplex was the extensive visibility these insurance technology solutions could provide. This includes Service Provider TAT’s, average costs and seamless management of service delivery by service providers that can easily be monitored, as well as of other tangible outputs that can be made available at the click of a button.
The board saw the potential benefits from the first pitch and approval was given for the rollout and implementation of the Codeplex Claims and Codeplex Supplier Management solutions. both innovative systems that work seamlessly with any policy administration system (PAS).
Codeplex solutions are designed for quick deployment, but they can also be tailored to incorporate the various nuances and functionalities required by different clients. At Lombard Insurance, geyser claims are now automatically funnelled into a pre-built process, and claims over a specified amount are automatically elevated to moderators.
Additional, highly specific deliverables implemented include every last actionable detail that Lombard holds its service providers to. SLAs, for example, can be so finely tuned that monitoring service provider performance on a daily basis is as simple as a glance at a screen.
The effect is an almost omniscient grasp on data, creating a powerful tool for management.
Van Wyk says, “We’re leaps and bounds ahead of the rest in respect of what we’ve built from a capability perspective. We’ve definitely come a long way in creating greater visibility and transparency in the way that we do things, particularly in respect of service provider performance.”
The Power of Data and The Human-Centred Approach
The data gleaned from tracking turnaround times and costs allows Lombard Insurance to benchmark performance like never before. Armed with this data, the company is able to partner with its service providers to understand the ecosystem and factors that influences how they deliver against their agreed service levels, which is critical for an industry so largely dependent on external suppliers in delivering services and resolving claims.
“The revolution we’re in now is data, data, data, and Codeplex maximises it to the utmost degree.” says Bangie. “What we have now with Codeplex is an incredibly holistic view with all the data we need to drive a more sustainable business.”
This sustainability is further enhanced by Codeplex Binder; another successful and highly user-centric implementation at Lombard Insurance. Codeplex Binder is the world-class insurance binder software that stills the “swivelling chair” of mandated brokers who spend their days hopping between systems.
With Codeplex Binder, Lombard Insurance also has a lot more control over the use of preferred service providers. While the insurance company has never limited its broker partners to using only a preferred list of service providers, the data now paints a very clear picture when alternative service providers fail to reach the prescribed standards in terms of the quality of service, turnaround times, and costs.
“It changes the nature of our engagement with our service providers.” says Van Wyk. “Because the simple truth is that we all benefit from this data. Beyond us and our brand reputation, beyond our brokers and our clients, it is the service providers who benefit as well, because now they too have the data that shows them where they can improve their own efficiencies and become more competitive. It has been a great knock-on effect.”
Codeplex Binder is currently being rolled out to all Lombard’s brokers, with the Codeplex teams integrating the various policy administration systems, vigorously testing each phase, and thoroughly training the new users.
Codeplex Customer Success and Relationship Manager Paul Berning says, “As much as the Codeplex systems create transparency and visibility, it is equally important for us as the team that implements those systems to ensure that the process itself is clear and transparent, every step of the way. This includes the rollout of the Codeplex Binder. We make sure that we have numerous engagements, training, and follow up sessions with the brokers themselves. We’re aware that change is not easy, so we do everything we can to make the rollouts and implementations as smooth and as easy as possible for all involved.”
Van Wyk says, “Our brokers are just as impressed as we are with the way the various Codeplex systems work, the usability, the transparency, and the fact that they’re not running the claim on their own anymore, we, the insurer, are now effortlessly managing that claim right alongside them. And when there are issues like delays in service provider turnaround times, we have the capability with the Codeplex solutions to proactively address it. It’s a whole new level of collaboration.” says Van Wyk.
The powerful execution of the Codeplex systems in action, the omniscient effect of its data, and the human-centred approach ultimately improve the quality of the interaction between claims staff, service providers, brokers, and clients at every level.
A Pioneering Partnership
As always, the Codeplex team brings their industry expertise and deep domain knowledge to every situation. Bangie refers to it as their “100% solutions mindset”.
“They’re so incredibly flexible and accommodating. No matter what challenge we put to them, no matter what we want to build into the system, they don’t tell us that the system doesn’t have that capability, rather, their mindset is ‘so how can we make it work?’. It’s the kind of mindset that adds to the sustainability of the insurance industry as a whole.”
Bangie adds, “Working with Codeplex has made us all become pioneers. It’s been a wonderful and exciting journey.”