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.
World’s Largest Insurance Broker Automates Underwriting Efforts
What They Needed
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.
How We Helped
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.
Key Benefits Delivered
The transition to automation lowered risks while increasing profits.