Case-Study-Insurance-Operations

Submission Clearance

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Submission Clearance

Business Requirements

An international insurance carrier was rapidly growing its North America business. The submission clearance process was being managed on Excel spreadsheets. With the preponderance of data, there was a need to increase the productivity of the analysts processing the submissions. It was also urgent to create an effective work allocation tool to ensure that all requests were processed and create a system which enabled effective high-volume data management.

Project Team

A team of Xceedance underwriting support specialists was organized with specific skills, including:

  • Exposure to and deep understanding of U.S. markets
  • Certified P/C insurance domain knowledge
  • Analytical skills and MIS capabilities
  • Client management experience

Tools and Technology

  • Reservation system – Web-based submission management system
  • M Yield tool – Database work allocation and QC tool
  • Macro-based tools (i.e. Branch Logic sheet to allocate the correct branch to underwriters)

Xceedance Solutions

The Xceedance team designed an internal work allocation tool and an automated submissions clearance system which enabled the client to significantly reduce the time to process submissions. The solution incorporated customized workflows based on specific client requirements and streamlined the overall quality of the process by building in the QA workflow within the work allocation tool.

Metrics

  • Processed more than 75,000 submissions for 10 lines of business over a 40-month period
  • 99% of submissions received were processed on the same day with an accuracy rate of 99%

Voice of the Customer

“Today, we can process submissions in less than a day. Before deploying the Xceedance submission system, our underwriters were forced into administrative tasks. Now they can focus on growing our business.”
> VICE PRESIDENT – UNDERWRITING, GLOBAL COMMERCIAL AND SPECIALTY LINES CARRIER