Morneau Shepell: delivering long-term value to OTIP
Morneau Shepell is a leading provider of technology-enabled HR services that provide an integrated approach to employee wellbeing through a cloud-based platform. Its core focus is to provide everything their clients need to support the mental, physical, social and financial wellbeing of their people.
Paul Sywulych is the Vice President of Digital Innovation at Morneau Shepell. He has been with the company for over 26 years in a variety of different roles. In his current position, he leads a number of key enterprise initiatives to leverage AI, machine learning and advanced technologies to improve the lives of employees and to help organisations maximise the value of their human capital.
Since 2014, Morneau Shepell has partnered with Ontario Teachers Insurance Plan (OTIP) and overseen OTIP’s growth from 20,000 members to more than 230,000. “We provide an array of solutions around health and pension administration,” explains Sywulych. “This ranges from outsource solutions for large organisations across North America to system only solutions that we provide to OTIP. As we make incremental improvements to the technology platform that supports OTIP, they automatically get the benefits of our investment because it helps us and them too.”
Sywulych points to the importance of delivering long-term and sustainable value to partnerships such as OTIP, and recognises the benefits this has. “OTIP has been a great partner for us and is one of our largest health administration clients in Canada. They knew they needed a strong administrative platform to accelerate their growth because of the speed of adoption of a standardised benefits plan across Ontario for teachers,” he explains. “One of the most interesting things from working with OTIP is that they really opened their doors to us. They welcomed us to spend time with them and we had our people hands-on during an 18 month implementation.” Sywulych believes offering that continued support is the key to success. “I believe that if you don’t help people run the software correctly and offer that ongoing support then it all falls apart so it’s vital you’re there,” he says. “We don’t just take a ‘set it and forget it’ approach. We continue to evolve the software platform because we do so for not just one client but for many. We’re doing incremental enhancements to the software to support technology trends and how things are changing.”
Looking to the future of the partnership, Sywulych believes observing the latest trends in the industry and operating with an agile and lean approach is essential to success over the next few years. “Our goal from a UX perspective is to make our customers’ interactions with software straightforward and try and reduce some of the things that they need to do so they can focus more on the areas of value add,” he explains. “In the near future, we’re looking at what’s the next thing that will drive the most value for our clients and we’re focused primarily around three key pillars: consumer grade experiences, the way in which we leverage AI, and augmenting additional things that matter to people. At Morneau Shepell, we’re also investing in initiatives such as voluntary benefits that extend the value proposition that employers can offer to their people.”
Flock and Aioi Nissay Dowa reinvent fleet insurance
UK-based insurtech Fock has announced today that it has entered a partnership with Asia’s largest insurance company, Aioi Nissay Dowa Insurance (AND-E) to “reinvent” commercial motor insurance for modern fleets. The two companies plan to change factors such as pricing and distribution.
Flock and Aioi Nissay Dowa have worked together over the past six months, developing two connected motor fleet insurance products which are currently available to self-drive hire, own goods, courier, and tradesperson fleets across the UK.
Part of the MS&AD Group, Aioi Nissay Dowa Insurance is one of Asia’s largest insurers, and the combination of its experience with Flock means that fleet managers can now access insurance tailored to their operations and designed to help improve safety over time.
Commenting on today’s news, Flock’s CEO, Ed Leon Klinger, said: “We believe the insurers of the future won’t simply pay claims; they will also actively incentivise and enable motorists to drive more safely and reduce risk. Together with AND-E, we are excited to be pioneering this approach. The AND-E UK team shares our vision of combining insurance with cutting-edge technology to create a safer, smarter world. This is only the beginning and I believe together we have the potential to transform how the world thinks about motor insurance”.
Using Flock’s technology to save money
Flock’s technology is able to connect to vehicle telematics and analyse millions of data points to accurately price policies based on both the size and safety of each fleet. This allows customers to be rewarded with lower per-mile prices for safer driving.
This announcement comes after the launch of Flock’s commercial motor division at the end of last year. The company says that since then, it has helped its initial customers achieve a saving of 25% over their previous insurance policy, as it begins to grow its large fleet insurance business. This includes the vehicle transportation firm, Engineius, Jaguar Land Rover’s ‘The Out’, and all-electric self-drive hire company, Elmo, all of which have signed up as customers.
Chief Executive Officer of Aioi Nissay Dowa Insurance, Warren Hetz, said: “The motor insurance industry is at a crossroads as insurance, technology, and mobility converge, and this is creating a world of opportunities to improve road safety as well as deliver more tailored customer experiences. Our partnership with Flock heralds a new era in commercial insurance”.
“By combining Flock’s cutting-edge technology with our significant underwriting expertise in connected vehicle technologies and insurance, along with our global distribution networks, we will be able to deliver an exceptional experience for fleets and their drivers”, he said.