INTRODUCTION: 

The client, one of the largest U.S.-based direct-to-consumer insurance companies, wasn’t realizing the growth it needed due to inefficient business underwriting processes. The client was in the midst of implementing a new underwriting workbench and workflow when it realized the need to first redesign its underwriting process. The client needed help designing a future-state that correctly allocated skill sets, eliminated manual tasks, and enabled underwriters to make decisions faster.

WHY NOW? 

The client had an idea to streamline their underwriting process, wanted to utilize automated underwriting and use new technology. They had done a selection process to determine which automated underwriting vendor/technology solution they wanted to go with. They had selected Accenture Life Insurance Platform (ALIP), an underwriting platform, and AURA rules engine. They brought us on to meet with their employees conducting the underwriting and other employees to evaluate the pain points in their current process. We helped them address the problems they had today, to improve what they had, not just with technology but with expertise in process redesign.

HOW WE DID IT: 

Capco analyzed the current state underwriting process by conducting interviews and observations with front line employees and key stakeholders to gather pain points, record manual handoffs, and get its arms around daily tasks that drove the business. From there, Capco utilized their signature FutureWeekSM Rapid Process Redesign methodology to design a future-state that both complemented and integrated with the new Underwriting workbench. 

WHAT WE DELIVERED: 

IMPACT

• The future-state design Capco delivered leverages new underwriting technology to better enable Underwriters to ascertain risk and make case-based decisions. The client completed implementation of the system on-time and on-budget, and made role and organizational changes that align with growth capabilities. Based on this success, client decided to redesign Agency Underwriting organization and process as well and involved Capco to support the effort.

DELIVERABLES

• Reengineered business process to facilitate a Technology-enabled process that enhanced  cross-departmental synergies. Capco detailed all business rules and requirements to identify pain points and recommend quick hit solutions for immediate added value . Designed new success metric rules that the client could use to measure their streamlined automated underwriting process.