50% faster issuance of policies with expedited customer onboarding for a Wholesale Insurance Broker

Challenges.

• Manual document review and data entry led to longer average handling times, hindering customer onboarding and policy issuance speed.
• Lengthy turnaround times frustrated customers and potentially impacted business growth.

Our Solution.

• Thorough study of customer business operations – outsourced model recommended to reduce policy issuing turnaround times.
• Identified and eliminated nonvalue add steps for improved efficiency.
• Independent teams of experienced professionals created to support the process.
• Knowledgebase of standard operating procedures developed to enable quicker information dissemination.
• Cross trained teams utilized to support specific clients and document types.
• Dedicated quality team assigned to monitor quality.

The Impact.

• Same day policy issuance (50% faster) after partnering with Coforge BPS (Business Process Solutions).
• Consistently exceeding accuracy levels and turn time service levels.
• Enhanced customer satisfaction levels.