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.
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.
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
- Sales Automation