Streamlined Workflows and Enhanced Collaboration for Insurance Broker
The insurance landscape today is more competitive than ever. DRC offers solutions to streamline and automate processes, leaving brokers with more time to focus on high-value activities.
A global insurance broker was using laborious manual processes to underwrite insurance solutions for professional service businesses in the United Kingdom. Underwriters were drowning in paperwork and our client was looking for a solution to make low premium risks profitable.
To free underwriters from their manual efforts, our client deployed DRC’s comprehensive policy administration functionality to automate underwriting guidelines and enable brokers to perform straight through processing with no involvement of human underwriters.Risks that were not profitable before due to processing costs have become profitable through automation and the program nearly doubled in written premium with no additional staff. Based on this success, the program will expand throughout the United Kingdom on the same platform with no additional cost.