The Problem
In this success story, we share how a global insurance company increased the end-to-end (E2E) visibility of its underwriting process and found EUR 5 million worth of savings potential. The underlying goal for this initiative was to increase efficiency, productivity, and profitability within their global underwriting operation by improving the process, streamlining related activities, and fixing master data issues. The challenge in gaining E2E visibility stemmed from a large variety of business applications and systems used by employees and regional nuances in their use.
The client is one of the world’s leading international insurance providers. The organization has already used traditional process and task mining tools but to no avail. They weren’t satisfied with the outcomes and wanted to get the E2E visibility on its complex underwriting process.
The process for underwriting new insurance can get extremely complicated, especially for larger companies. The client wanted to understand the process reality and where the time actually goes in each of the steps. More traditional methods of mapping the processes were not successful in solving this visibility challenge due to the following
- There was a multitude of business applications involved in the process.
- 90% of all processing work happened outside of the main underwriting business app.
- here was a mixed legacy and modern IT landscape.
Therefore, it was impossible to find improvement opportunities for how to enhance the process and make it more efficient using process and task mining tools.
The Solution
This is when they found out about ProcessMaker's Process Intelligence. Together with the client, we analyzed the full underwriting process end-to-end, including own teams, business partner teams, and dozens of business applications and tools.
E - Eliminate
ProcessMaker's Process Intelligence unveils overlapping, duplicate, and pointless work in process steps for more meaningful work and quicker returns.
S - Standardize
ProcessMaker's Process Intelligence shows various teams’ methods to identify the most effective way of working and become a fully optimized organization.
A - Automate
ProcessMaker's Process Intelligence reveals manual work on business apps to show quickly automatable process steps and long workflows for RPA.
Above is the visualization of the underwriting process challenge
The Value Created
Already within 4 weeks of using ProcessMaker's Process Intelligence software, the client was able to successfully identify the most important improvement areas for their operations. The findings were surprisingly very different from the initial assumptions, proving once again that the reality of work can be vastly different from what’s expected.
EUR 5 million worth of annual savings potential was identified in the following four main aspects:
Manual work
Based on the findings, millions of copy-paste instances between the main system and supporting systems were identified, even though it was expected that systems are fully integrated
Compliance
Even though the customer has mapped out the processes and set the standard process path, the variance was found to be over 90%. There was a lot of potentials to improve throughput time and cut manual efforts with the standardization of the processes.s
Operating model
The majority of process work happened outside the core ERP system, e.g., in communication channels although all customer communication should happen within the ERPd
Standardization
The divergence between different teams in their efficiency was very high. The best practices from one team could therefore be utilized for other teams as well.
