When the project goes sideways, breaking up is not hard to do...

In just three years, Excalibur went from startup, to managing a book worth $20 million in premiums.
When Tony Scognamiglio joined Excalibur as COO in 2016, the owners were grappling with system
delays, having missed two vital deadlines of its launch into the homeowner market of southern
Louisiana. This was largely attributed to mismanagement of the offshore developers used by the backoffice provider.

These delays impacted the ability to write over 10,000 policies and caused reputational damage with
agents trying to work with the new startup. Having experience with WPIS’s capabilities in his previous
capacity at ASI, as the VP of Claims, Scognamiglio brought WPIS on board to successfully bring Excalibur
to market - he knew they were the “only ones who could do it within 120 days.”
WPIS delivered on time everything it promised, with an easy-to-use system that was well accepted by
the agents in the marketplace. This gave Excalibur credibility with agents, leading to significant growth
and the startup quickly becoming one of the fastest growing insurers in Louisiana.
How does Tony Scognamiglio describe the benefits WPIS brings to new market entry? “WPIS is a one
stop shop, with expertise in all necessary components of an insurance company. They understand the
insurance industry, the semantics, how insurance is communicated, while other vendors are just
programmers. All variables associated with functionality and management are present and available
there.”

Scognamiglio also states that WPIS’s affordable transaction pricing model was key to Excalibur’s success
in maintaining a competitive pricing strategy. “The market is so competitive, margin on a BPO is critical
to decision making when choosing a vendor. Margins are so tight with claims, reinsurance costs, loss
ratio, every point matters, so affordability of systems is critical.”

Excalibur was purchased by Lighthouse Property Insurance Corp. in the spring of 2019, a real startup
success story, with WPIS as its BPO from inception. WPIS will continue to provide BPO services under the new ownership.


Download

Discover an Easier Way to do Business