Lack of interoperability standards
The lack of process and data standards between retailers, brokers, underwriters affects insurers of all sizes. In large organisations that operate shared service centres, this problem is exacerbated when trying to deliver a common, regional approach to policy management. Though the core processes are simple, the insurance industry has not yet been able to achieve the level of self-service and zero-touch handling often found elsewhere.
Process, handling time and more…
Multi-hour processes in which highly trained advisors move data between structured and unstructured files are commonplace in shared service centres around the world. Often these will also involve working with inhouse and 3rd party applications. Steps in the process may be repeatable or unique.
In either case, process steps may change without warning if supply-chain partners decide that a new policy template is required or different terms need to be applied.
Files, files, and more files
Most organisations rely upon word documents, PDF files and spreadsheets to help record policy changes and receive work requests. In the age of ever stricter data regulations (e.g. DPA, GDPR etc) and the need to locate and selectively destroy customer data where ever it may exist, execution of process outside of the enterprise applications is no longer an option. Change is required – but so is business continuity.
This is not because these steps can’t be automated – rather it is an acknowledgement that full automation would work very well for day-1 and then fail over time as those variable data sources are modified.
Agent-assist applications are built within Glue42 to capture parsed data and allow check-points and amendments by human operators
Application navigation and copy/paste operations can be defined for process types through rules and configuration (and not code)
All Glue42 solutions have the ability to record user navigation and dwell time etc. Processes can be constantly measured and improved
90% reduction in process steps for complex processes can lead to re-purposing and re-assignment of staff