Allied Solutions UniTrac™

When a bank or credit union loans funds to a business or individual for the purchase of property—homes, buildings, vehicles and capital equipment—that property becomes collateral to secure the loan. But in order to protect that investment, financial institutions require owners to carry insurance on their property, known as collateral coverage.

Allied Solutions, a leading provider of insurance, lending and marketing solutions to financial institutions, provides mission-critical business applications to its commercial clients. Key among them is the ability to track collateral insurance coverage, an effort which grew increasingly complicated with Allied’s expansion.

As Allied Solutions’ customers entered into a broader variety of loans and collateral securitization, its legacy tracking system required more manual interaction, eventually becoming too cumbersome to be convenient. Allied knew that upgrading to a modern platform wasn’t just the best solution—as it would create future flexibility when it came to adding features—it was the only solution. But the application was mission-critical, and Allied leadership feared a problematic transition and significant downtime, as well as the loss of both customer trust and premiums.

The fear was credible. One of Allied’s competitors had recently attempted to re-platform its system using a “Big Bang” approach, only to find that once the new system was turned on, it didn’t actually work. The consequences were disastrous, as much for the provider, as for its customers.