Digital Transformation in Major Insurance Company

Digital Transformation

in a Major Insurance Company

Summary

An 80% reduction of administrative effort in Underwriter Processes for the Insurance company through process-led roll out of digital integration platform.

Organization Background

A major insurance company started automation and transformation activities in their Underwriting department which required retirement of a legacy system of record and implementation of Unqork as the new platform.

Business Challenges and Opportunities

The insurance company was undergoing significant digital transformation and their Business and IT departments were having disagreements regarding the business case.

Due to several factors influencing the transformation, the roll-out of Unqork had to be accelerated to the different profit centres, while also minimizing risk and business disruptions.

To support these activities, the initiative required the development of more thorough documentation of the as-is processes, an appropriate analysis to identify improvement and automation opportunities to develop future state processes that supports the new process and system roll-out.

Solution

The company decided to focus on improving process transparency to provide better information for business cases and change management as well as to focus on delivering several short-term improvements.

Capture As-is process models though SME interviews and document processes in Signavio using BPMN. Analyze process models to identify improvement opportunities and define actions.

Produced dynamic software reference models to show how processes are best organized using Unqork.

Design standardized To-be processes which are responsive to improvement opportunities while also leveraging the Unqork reference models.

Run simulations of the As-Is & To-be processes for business cases. These simulations considered volume, decision points, and role resourcing input to compare the reduction of cost and effort.

Enable repository management, on-going usage of the reference model through training and capability development to ensure continued Process management discipline.

Results

Identified reduction of administration efforts of over 80% and an overall process cost reduction of approximately 50%.
Delivery of a centralized repository via Signavio and convenient access to process documentation & models; reusable and easily transferrable to other profit centres.
Standardized process documentation & transformation approach.
Accelerated Unqork roll-out to different profit centers through re-use of reference models; reduction of design time per profit center by over 50%.
Solid business case and change management related information through process simulation, agreement on business case and organization effects.
Minimized transformation risk & business disruption through transparency and simulation analysis.
Reference model handbook to guide the ongoing use of the reference model, sustainable process capability.