Broker case study

Edwards Insurance Brokers

Overview

Established in 2004, Edwards Insurance Brokers is a specialist broker providing church, charity, commercial and high value homeowners’ insurance. The firm has been an Open GI customer since 2012, and we have supported them to grow into a leading church and charity brokerage. Edwards operates Open GI’s platform on a virtual environment. With our Core Toolkit software and assistance from the Open GI Training team, plus Broker Network, Edwards is able to administer niche schemes effectively from the Open GI Core Back-Office.

The challenge

While our Core platform has been instrumental to Edwards’ success to date, the company was aware that it was only scratching the surface of the many capabilities and features that the platform can provide. The company had also previously acquired a scheme book of business with a high policy count but relatively low average premiums.

Its Schemes team was therefore finding it more and more difficult to quickly turn around the numbers of quotes it was required to provide to its new book of business, as well as manage the volume of renewals and mid-term adjustments for its existing customers.

From the outset, Edwards recognised that it could save administrative costs and realise time and resource efficiencies if it could speed up its quotation, renewal, and document production processes.

“We had only mainly used the basic functionalities of the Open GI system, not realising what an impact it could have for us if we utilised more of its capabilities.”

Richard Haywards, Edwards Insurance Brokers

The objective

Edwards therefore approached us for our help, requesting product advice, training and support from our Consultant and Training teams. The company wanted to not only find ways to save time and costs in dealing with its new book of business, but also to learn more about the deeper functionalities of Core so it could meet and go beyond its goals.

The impact

Edwards engaged with our Consultancy teams who recommended one of the Toolkit packages available for our Core system – Core Toolkit and Scheme Toolkit.

Edwards adopted the Core Toolkit and thanks to the hands-on training delivered by Open GI’s Training team, has been able to create and implement its own bespoke frames with fields for whatever the business may need. This includes statement of fact/risk information and the ability to embed premium calculations based on the information entered.

These new functions are now also enabling Edwards to quote/bind cover and produce fully compliant renewals in just a couple of minutes, with fully automated letters, demands and needs statements to match.

“It has transformed the previously more time-consuming process that we had, relieved pressure from the team and we are able to tweak or adjust it how we need to. The training we received was [also] excellent and assistance is always at hand should we need it.”

Richard Hayward, Edwards Insurance Brokers

The future

Edwards will be working with us once again to streamline another of its insurance covers. This time the company will be utilising Instream and our Consultancy teams will manage a data migration from Edwards’ insurers into its own custom-made frames, designed specifically by Edwards for that product.

Edwards will also be able to produce Risk Registers, which will be populated by these newly implemented frames to provide to its clients.

“We have been very happy with the advice, training and consultancy work we have received and would happily recommend these products.”

Richard Hayward, Edwards Insurance Brokers

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