Case Study
Farmers Insurance: Complex quotes in 14 minutes instead of 14 days
"We went from 14 days on the things we rolled out, to 14 minutes."
The Business Issue
Farmers Insurance, the third largest auto and homeowners insurance company in the U.S., wanted to give their agents more intuitive, real-time support so they could service their small business customers’ unique needs faster.
The Solution
Leveraging BPM technology from Pega, Farmers took control of its small commercial insurance application process by eliminating the factors that slowed down business. They re-created and streamlined the new business cycle.
The Results
In just one year, Farmers doubled their market share, and has continued to grow since.
- Quote generation went from 14 days to 14 minutes
- New policy system rolled out in less than 5 months
- 70% increase in umbrella policy sales
- Delighted agents and customers
Related Resources
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Customer Success Video Hear how Xchanging and Pega are bringing innovation to the global insurance market.
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Demo Video Pega Distribution Management is an insurance sales platform designed to help carriers elevate channel production.
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Webinar Learn how leading insurers are redefining their distribution strategies to improve relationships with producers.
Tags
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Industry Group: Insurance -
Product Area: Pega Sales Automation -
Challenge: Customer Service -
Challenge: Operational Excellence