Mackay Insurance Completing Renewal Reviews Same Day vs. 1 Month Delay

2,400 labour hours repurposed to revenue generation instead of information processing

Process: Renewal Review

  • Renewal Reviews
  • Data Manipulation

Mackay Insurance, like all other insurance agents or brokers, were looking to do more with less. Hiring in this climate is hard, and maintaining or increasing staffing levels is a big challenge across the industry. This made them turn to technology and automation to look for solutions to their problems.

The Story of Mackay Insurance

Mackay Insurance is a mid-side insurance brokerage based in Belleville, ON. They are a staple in the community having been established 45 years ago, with current President, Bruce Mackay, on board for 33 of those. Mackay has 20 employees across two offices and is always looking for ways to augment their offering and improve their customer and employee experience.

Our Impact

  • 200 hours
    repurposed per month
  • 35x faster
    reviewing client renewals
  • 67% cheaper
    than previous manual process

The Opportunity Faced by Mackay

Mackay Insurance’s goal for 2022 is ARC; Automate, Rethink, Contact: automate more and rethink processes to spend more time in contact with customers. When investigating the Renewal Revision process, Mackay recognized that the team was spending a large amount of time on this task, which was preventing them from being on the phone more with customers. With the volume demands they were facing, they were soon going to need to hire an additional staff member to focus solely on the renewal process. Even with the time they spent on it, there was a growing backlog to get through and it was impacting their ability to proactively speak with customers. It would take anywhere from 3 to 5 weeks from the time the renewal documents came in to when their team could actually get to them for review. This meant that they were losing opportunities to build value with their customer by proactively reaching out with any opportunities for them to save money, change insurance carriers, or to upsell and cross-sell. Once Bruce met Quandri, it was clear there could be a huge win for the whole Mackay team and their customers by implementing automation for this process.

"Renewals would come in daily and the assigned TSR would then manually review the documents. Due to volume, there was continually a backlog. This led to clients calling in before brokers had a chance to see any issues in their renewals. We were looking for a better solution to this problem, and knew automation was the answer."

Holly Phillips
Branch Manager, Mackay Insurance

How Mackay Chose Quandri

Mackay saw a digital workforce as a way to augment their staff’s capabilities and productivity, while also providing a better customer experience. Bruce is always looking out for technology that can help his team, so when he saw a presentation that Quandri gave to the Vertafore Users Group he was excited about the potential. There were a few different options evaluated, and although Quandri’s pricing was slightly higher, Mackay chose Quandri over other competitors because of Quandri’s ongoing commitment to their business. Their model is built for changes and updates to be made over time, which was important to Mackay since they know their business and processes will evolve over time. Mackay also saw the potential to implement different Quandri products over time, going beyond a single digital worker.

"We wanted to provide quick, efficient and consistent renewal reviews so that our producers could quickly reach out to customers. The response and turnaround has been phenomenal with the Quandri team"

- Bruce Mackay, President

How Quandri Responded

Quandri spent a lot of time up-front with Bruce and the rest of his team to make sure they thoroughly understood the process before moving forward and implementing the digital worker. Quandri worked with Mackay’s team to ensure their entire Renewal Revision process was covered in the digital worker. There are over 70 different actions the digital worker can take during the Renewal Review process, all of which can be customized depending on a customer’s process. These actions were discussed with the Mackay team and the digital worker was trained to ensure they fit perfectly to their renewal process upon implementation. Implementing this digital worker has resulted in a number of benefits within Mackay Insurance. From a hard financial perspective, it has reduced their cost on the renewal process by 67% and is repurposing 200 labour hours every month to other areas in their business. Mainly, speaking more with customers and revenue generation. More importantly though, it has dramatically improved their ability as a business to respond faster to changes.

"With Quandri, now the next day after a renewal comes in the broker has all the information they need: price change, missing/changed coverages and talking points. What a great way to meet our ARC goal"

- Holly Phillips, Branch Manager

The Results

Now that renewal reviews are being processed upon receiving the documents, they can respond to at-risk clients much faster, thereby increasing their customer retention. Additionally, they can proactively reach out to customers to inform them of changes and provide multiple options, instead of having a dissatisfied customer reaching out and being on the back foot. Lastly, it has standardized their review process across the business so it is easier for people to work across the client base as they know it will be done the same way, every single time, regardless of who’s client it is. This digital worker, named Robotic Rob, is working with the Mackay team to great success and has helped them achieve a much more efficient renewal process. Bruce and the Quandri team are now planning out a companion for Robotic Rob, Susie Suspense, so that Rob doesn’t get lonely during those long days at the office.

"The automation side of the project was excellent. Overall, we’re so glad we made the investment in this project. We can now spend a lot more time talking with customers instead of processing information. With the success of our initial project, we are considering opportunities to invest in automating other important functions such as quoting, suspending and others."
Bruce Mackay President of Mackay Insurance

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