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Defined Workflow “North Star” Target State for 35% Cycle Time Reduction at Reinsurance Company
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CASE STUDY
Implemented Process Automation to Increase Transaction Volumes 2X for Reinsurance Broker
Challenge
A global reinsurance broker’s customer support team faced employee burnout and decreased customer satisfaction due to cumbersome manual processes.
The company aimed to identify and quantify opportunities to drive process improvements with automation and workflow.
Approach
- Assessed current state with process owners to gain alignment on pain points and automation priorities
- Designed a tailored automation strategy leveraging process commonalities to identify three reusable automation patterns
- Sequenced automation roadmap with impactful quick wins and applying reusable automations across processes for long-term impact
Results
I.
~2x increase in transaction capacity to support 35% increase in revenue with current staffing levels in key processes
II.
60% reduction of manual processing and contractor spend for quarterly pro rata processing within 6 months
Results
I.
~2x increase in transaction capacity to support 35% increase in revenue with current staffing levels in key processes
II.
60% reduction of manual processing and contractor spend for quarterly pro rata processing within 6 months
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