American Fidelity Assurance
Founded more than 40 years ago, American Fidelity Assurance Company is one of the largest private, family-owned life insurance companies in the U.S. The Oklahoma City-based company serves more than one million customers in 49 states and 20 countries.
The Challenge
Since 1960, American Fidelity has provided disability, life and indemnity insurance products to the educational community and to trade association members throughout North America. Like most insurance firms, American Fidelity has some challenges unique to its business. But it also shares a goal common to every organization today—to find a way to deliver new services and support to customers and agents without incurring additional costs.
The Solution
Working with Software AG, American Fidelity was able to optimize and extend mainframe investments to fully interoperate with Jet Issue (its policy application processing system), a real-time Online Service Center and a HIPAA-compliant XML system for processing X12 HIPAA transactions.
The Benefits
- Improved customer service and streamlined channel operations.
- Agents now issue nearly half of all applications electronically.
- Savings of more than $400,000 per year on policy underwriting.
- Savings of $490,000 per year on forms distribution costs alone.
- Anticipated savings of more than $1 million per year as applications grow.
Customer Statement
"Currently we're saving $490,000 a year just on forms distribution alone. And that doesn’t include the operational savings we‘ve realized from reducing call volume in the customer service areas.”
Jim Lupton, Vice President in Information Systems
American Fidelity Assurance Company
