Before partnering with Cloud Insurance, iNext had issues with an outdated in-house IT system designed to support a single product. The system struggled with the launch of new products and features at the pace required for a growing organization. Furthermore, it required a lot of company resources on legal and compliance work.
“The original solution was sort of like the Voyager from Star Trek, where we’d just add one piece after another and it just ended up being this massive thing that wasn’t responsive to evolving need”.Jeff Thaxter, Director
iNext initially attempted to develop the IT system internally through the help of an external supplier of CRM systems. Unfortunately, this didn’t work for them, so they reached out to their network for help and found out about Cloud Insurance.
At the time of the first contact, iNext found themselves in a precarious position as they needed a solution before the end of the fiscal year, which was rapidly approaching.
With an ambitious deadline, it required a considerable commitment from both parties to have a solution up and running within eight weeks, and before the end of the fiscal year. We delivered to deadline and provided a solution tailored to the specific needs of iNext. “The Cloud team was very responsive, transparent and had great communication. They asked the right questions in a timely fashion, which meant that they understood our needs straight away,” underlines Thaxter.
Through our flexible software, iNext has been able to make quick changes and modifications to their products in response to external factors such as legislation. Something crucial in an increasingly competitive market. “It takes longer for us to specify the changes from a legal and financial perspective than it takes for Cloud actually to set everything up,” says Thaxter.
When changes to the US regulatory environment manifested; and, as a consequence, schools struggled to find solutions, iNext was able to respond to the crisis and help their customers quickly through their partnership with Cloud Insurance.
The results of the collaboration between iNext and Cloud Insurance is a more flexible infrastructure built for scalability. The flexibility of the software provides a quicker turnaround on product development and ensures higher customer satisfaction through an intuitive user-experience. A nimble cloud-based system allows iNext to handle more customers and keep up with industry trends.
“The insurance market is continuously changing and it is important to be at the forefront, and not just reacting to market changes, but actually helping to define it,” says Thaxter.
Since the implemention, iNext has seen a revenue growth of 20% and have tripled their product catalog. As a non-profit this ensures that they can help even more customers and provide better products and services overall.
More advantages for the end customer
With the launch of the Cloud Insurance software iNext can offer their customer a more user-friendly experience. Additionally, iNext specifies the importance of the real time access to policies, coverage and customer information. This enables them to keep customers safe across the world irrespective of time differences, as personal information is always available in the event of a crisis.
With a system built for scalability iNext will be looking to expand into additional markets, and provide new products and features based on customer preference and current industry trends. Their new, flexible infrastucture enables, rather than limits, innovation.
“There was growing frustration—both internal and external—with the limitations of the old platform; but now user-friendliness is at the forefront of our operations,” remarks Thaxter.