Client Impacts

Redesigned Underwriting Processes to Create 50% in Front Office Capacity for Global Insurance Company

Capabilities
Insurance

Challenge

A global insurance company was struggling to profitably expand market share due to issues with end-to-end processes and inefficient, manual ways of working.

The company needed help to redesign processes to shift operational activities away from front office staff, enable further scaling of the business, and improve turnaround times and servicing levels.

Approach

  • Conducted current state workshops and surveys to understand bottlenecks in existing processes
  • Identified and prioritized existing pain points in current state underwriting process across all relevant stakeholders
  • Performed Suitability Assessment including complexity, extractability, and industrialization of current underwriting activities to centralize and/or offshore
  • Developed target next phase process and roadmap of tactical plans towards a future state operating model

Results

Created underwriting and sales capacity of up to 50% through optimized underwriting activities to “shift right twice” - first to centralized operations and then to offshore resources

Developed future state end-to-end underwriting process to reduce time from initial submission to policy issuance by up to 15 days (60%)

Recommended process solutions and developed tactical plans over the short, medium, and long term to achieve a future state operating model with minimal technology investment required

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