Scoping a technology solution for a US-based (Re)insurer
The Challenge
The client relies heavily on manual processes, using tools like Excel and Dropbox, to carry out day-to-day operations that compromise efficiency and data insights. The entire underwriting process needed to be optimised – from data capture to administration, allowing our client to introduce Exposure Management functionality and put them in a good position to secure its Outwards Reinsurance capabilities.
How did r10 help?
r10 worked with our client to ensure requirements were understood and captured for Insureflow to build a solution that meets expectations by providing expertise in project management and business analysis.
We proposed a phased approach implementation plan to ensure a smooth transition, starting with focusing on data capture and policy management.
r10’s Delivery expertise and data-first mindset helped capture the “as is” processes, which was crucial in understanding and organising the data structure and process flows. Also, we helped our client to improve administrative process and enhance data insights, enabling more informed underwriting decisions.
What was the outcome?
- The scoping and analysis phase was completed successfully, including wireframes as an add-on to communicate effectively the client’s business needs to the technology provider.
- The end-to-end underwriting processes have been optimised, from data capture to administration, and policies have been made simple and effective.
- Secured Phase 2, to help the client achieve an accurate, efficient, and transparent underwriting solution, with advanced analytics and insights. The next phase involves capturing “to be” processes, while facilitating sign-off for development and configuration between client and partner and outline testing and training strategy as well as record new improved “to be” processes.
Get in touch with r10 to further comprehend your digital transformation journey, including defining and implementing your strategic priorities.