Automated Renewal Process

UDig Creates Automated Renewal Process for Managing Policy Renewals

Challenges

  • Global specialty insurance underwriter sought to improve policy renewal processes which often required manual intervention by brokers and underwriters preventing time being spent on higher risk, more profitable policies.
  • Often lower cost, high volume policies were missed or delayed due to the manual nature of key components of the aging processes causing critical business capital generators to be unnecessarily lost because of lapsed coverage or customer abrasion.

UDig Solution

  • UDig consultants contributed a key role in automating critical components of the renewal processes, engaging stakeholders to fully understand existing processes and implement efficient and accurate automations.
  • A flexible, automated renewal process involving both on demand renewals as well as batch renewal automation was created to capture revenue with little to no touch reducing implied costs and resulting in increased profitability.
  • UDig consultants led the efforts to implement a multi-tier, product agnostic, rules driven solution to generate key renewal letters and critical data capture ultimately expanding across new product lines.

Results

UDig’s automated policy renewal processes captured additional revenue and resulted in releasing broker and underwriter time to focus on higher value activities.

Tools and Methodologies

  • Microsoft .NET Framework
  • Microsoft C#
  • Oracle Database
  • XML
  • Microsoft Windows Forms