CTC Transportation Insurance Services, LLC finds a partner suited to keep up with the company’s pace of innovation.
CTC Transportation Insurance Services LLC (CTC), one of the largest managing general underwriters providing insurance to truckers throughout the U.S, found that as the company grew a technology solution for rating and policy life cycle management was needed.
Since the company had no legacy system in place, CTC first had to define internal requirements for the solution sought before beginning to shortlist potential vendor partners. The selection process went smoothly, according to Scott A. McCrae, executive vice president at CTC, and, ultimately, Maple Technologies (Maple Tech) was selected for a combination of solution features and functionality, cultural fit, and Maple Tech’s geographic proximity to one of CTC’s main offices in New Jersey.
“We liked what Maple Tech’s Aspire Suite had to offer,” said McCrae. “Aspire’s architecture reflects modern thinking and programming, and it is web based. Knowing we were trying to create as much of a paperless environment as possible with a flexible rating engine, Maple solved the problem best.
”Owing not only to the modernity of Maple Tech’s Aspire Suite, but also to CTC’s implementation readiness and the fact that this was a greenfield project, the implementation process proved fast and efficient. CTC’s internal team identified one of the company’s commercial auto liability programs as the best starting point, and outlined business specifications, rating algorithms, and underwriting rules. Once the foundations of the project plan were in place from an internal perspective, CTC worked with Maple Tech to define custom rules which the two teams could implement together.
With an agile approach and weekly collaboration between CTC and Maple Tech, implementation has been a solid success. The iterative nature of the relationship and Maple Tech’s willingness to continue creating custom rules and functionality for CTC mean an open dialogue between the two companies is necessary to keep CTC at the cutting edge of business processes. By taking the approach that all projects are made of small pieces or steps, CTC and Maple Tech constantly had achievable deadlines and goals which was more effective for CTC to track and more effective for Maple Tech to code.
“CTC is a pretty dynamic organization, so we were constantly updating our program with Maple,” said McCrae. “We established a weekly meeting between the two companies where we walk through open issues, those that have been resolved, and new projects. As a result, work gets done much faster as more of an intuitive, agile process.
”Since the beginning of the relationship, CTC has been impressed that Maple Tech has continually worked to better the speed with which changes and corrections are made to the specific CTC implementation, and that the company is also making continuous improvements to the Aspire Suite’s baseline technology as well.
“Having them keep current and continually improve their own team has helped us the most,” said McCrae. “We have lots of different programs, but Maple Tech is good because they are constantly improving the products they have with us. ”And, CTC is looking forward to the future as it relates to expanding the relationship with Maple Tech and the implementation or utilization of Aspire for new third-party integrations which will help the company bring in new rating variables faster and potentially take advantage of InsurTech innovations as well.
“In the next couple years, the biggest focus will be to have Maple Tech internalize business processes with some of our other third-party vendors,” said McCrae. “For example, we often use motor vehicle reports (MVR) to learn about drivers and driving behavior. Beginning to use the MVR ordering integration inherent to Maple Tech’s Aspire will improve our business. Maple Tech’s ability to link with our other third-party vendors we need to underwrite our business will be critical in the future.”
Like other insurance organizations, CTC recognizes that more information is always better, and is continually looking for ways to expand the number of rating variables used to price business as quickly and efficiently as possible. So, the higher number of ven-dors with which the company can integrate, the better. “Insurers can’t do business in a vacuum,” said McCrae.