CASE STUDY

Saxon Insurance’s Digital Leap: 25% Market Growth in a Year

Objectives

To replace aging, inefficient, and largely manual legacy systems

To increase market share in the Cayman Islands’ competitive insurance marketplace 

To develop an innovative, policyholder-first business model 

Results

Captured 25% of the Cayman Islands market within the first year 

Reduced first response time to customer inquiries by 80% 

Cut average transaction processing time by 50% 

Improved customer satisfaction to 94% 

We took an old insurance company that had very little market share and transformed what was a creaky, very manual, analog system and architecture into a very advanced digital platform within six months. Duck Creek was a key factor in this.

Brian Williams
CEO,
Saxon Motor & General Insurance


The Challenges

  • Inefficient Legacy Systems
    Saxon’s aging, largely manual legacy systems were costly, hindering meaningful growth and transformation.
  • Limited Online Presence
    Their “buy online” portal, while innovative, had limited functionality and only accounted for 1% of new business.
  • Limited Local IT Resources
    Maintaining the legacy infrastructure was challenging due to limited local IT talent.

The Solutions

  • A modern insurance platform was implemented, focusing on enhancing user experience and operational efficiencies. 
  • Saxon transformed into a paperless, policyholder-first provider of smart insurance, significantly increasing its market share.  
  • Duck Creek Policy and Billing were implemented, offering a low-friction online engagement for policy shoppers and operational efficiencies for policy management.   

The Impacts

Increased Market Share

Saxon captured 25% of the Cayman Islands’ market within the first year.

Improved Customer Service

The first response time to customer inquiries decreased by 80%, and customer satisfaction rose to 94%.

Enhanced Operational Efficiency

Average transaction processing time was cut by 50%.


News And Press Releases


About The Customer

Saxon Insurance is a direct-to-consumer insurer providing a range of insurance products to residents and businesses across the Cayman Islands. Established in 2011 through the acquisition of a local motor insurer, Saxon transformed into a modern, innovative insurance company, leading the country’s market with its policyholder-first business model and an array of personal and commercial insurance products. Explore More.

Location
Cayman Islands

Industry
Property Insurance

Products/ Services Utilized
Policy, Billing, Insights

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