Insurance
Learn how insurance companies can simplify workflows and deliver better customer experience with Glue42’s fintech solutions!
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Your challenge
Large insurers often find themselves inheriting many systems and applications as a result of acquisitions over the years. Many of these systems fulfil a need for specific scenarios but ultimately require manual double keying efforts which can impact the ‘quote to bind’ journey processing time and quality. This can have a detrimental impact on competitive advantage and winning business.
Underwriters and Operations personnel struggle with knowing which system to use when and also navigating between them; from receiving a quote, validating it, quoting and then binding it. The legacy systems often carry a key person dependency risk – meaning more training hours are required to pass down knowledge. These legacy systems are often old and clunky and affect the overall technology landscape as they require a lot more maintenance to function.
As a result of the aforementioned challenges, there is an impact on efficiency compounded by the lack of standardized processes. In addition, there is a lack of accurate Management Information which is vital for optimizing the ‘quote to bind’ journey, meeting regulatory standards and winning business.
How we can help
Glue42 can help integrate your different systems and applications, creating an interoperable and unified desktop experience. This will increase efficiency across the pre-quote and quote to bind process for underwriters, operations and claims personnel alike.
Increase collaboration among underwriting teams and operations
Achieve better communication through interactive dashboards that can be enhanced with Glue42’s notifications function and collaboration tools. Create persona-specific layouts and workspaces that can easily be rolled out and shared with appropriate team members – all within weeks, not years!
Streamline underwriting process and workflows in weeks
Integrate your core Policy Admin System(s) (PAS) with your CRM, Compliance, Sanctions & Financial Crime checking systems, Rating and Pricing Tools, Exposure Management Systems, and more to produce streamlined workflows that will improve productivity and reduce the time to quote.
Improve Management Information
User behavior can be captured and visualized using Glue42’s Insights product. Glue42 can also seamlessly integrate with your internal data management tools to manage and analyze operational data. Glue42 can help produce governance as well as throughput reports allowing you to have a more accurate view of pipeline, hit rate, rating strength and adequacy.
Remove duplication and double keying
Synching data between applications removes the need to type the same queries multiple times in different applications. Less duplication improves the underwriting quality. Also, reduced manual typing decreases the chance of committing human errors.
Next steps
Ready to Take the Next Step?
Book a personal demonstration of Glue42
