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MagMutual Revamps Its Operations with Appian

In a bold move towards modernization, MagMutual has successfully transformed its operations by leveraging Appian's innovative, AI-powered platform. This strategic partnership has enabled the leading provider of medical malpractice insurance to optimize key processes, substantially enhancing the policyholder experience for over 40,000 healthcare providers nationwide.

As one of the largest mutual medical professional liability carriers in the United States, MagMutual faced significant challenges due to outdated legacy systems and inefficient manual workflows. These challenges resulted in slow quoting processes, limited operational visibility, and arduous policy migrations that could stretch out for up to three years.

To tackle these issues head-on, MagMutual collaborated with Appian and technology consultancy Xebia to revamp its core operations. This partnership bore fruit as MagMutual implemented a self-service quoting portal, integrating its underwriting and claims workflow into a unified system through Appian’s capabilities. Customers now enjoy instant quotes, drastically reducing the time frame of what was once a lengthy process of several weeks down to just minutes.

Mark Poling, Chief Customer Officer at MagMutual, enthusiastically reported, "People received their policy within hours of us launching our quoting portal, and we reached $1 million in revenue in record time—without any advertising efforts." This immediate success underscores the effectiveness of the new digital self-service portal, which quickly became a powerhouse for revenue generation, with projections estimating a 20% annual growth moving forward.

The transformative process not only accelerated the speed at which quotes are provided but also simplified operations for staff. By utilizing Appian's data fabric, MagMutual replaced three legacy tools, thereby integrating crucial data from platforms like Salesforce, Oasis, and its proprietary systems. This streamlined workflow has proven beneficial by eliminating the need for employees to toggle between disparate systems, which previously created friction in service delivery.

Moreover, the deployment of Appian Process HQ allows MagMutual to adopt an analytics-driven approach. This enables the identification of process bottlenecks and fosters a culture of continuous improvement, ensuring that efficiency remains central to their growth strategy.

With Appian, MagMutual has accelerated its acquisition processes, notably slashing the duration of complex policy migrations from legacy systems from three years to just one. Sheila Evans, Chief Product and Solutions Officer, expressed her optimism about the collaboration, stating, “Utilizing Appian AI, I see a ton of opportunity to help us continue to deliver against our strategic plans.”

As a result of this revolutionary transition, MagMutual's commitment to providing superior service to its policyholders has been reinforced. The healthcare providers they serve now benefit from heightened transparency, faster response times, and a significant improvement in operational agility.

In conclusion, MagMutual stands as a testament to the transformative power of technology in the insurance sector. Their integration of Appian's AI-powered platform has not only resolved legacy challenges but has also positioned them for sustained future growth.

To discover more about how MagMutual is leveraging Appian’s AI for operational success, watch their full story here.