A Broken Broking Process
Liberty Create has helped the business build an app that ties all the processes, systems and data together in one automated workflow.
Staying ahead of the game
A leading global professional services firm that provides a broad range of risk, retirement and health solutions wanted to improve their broking process. They use the power of data and analytics to deliver insights that reduce volatility and improve performance. Acting as a global insurance broker, they represent many of the world’s leading organisations. Their mission is to stay ahead of the game.
Standardising and simplifying broking processes
Across the various broking sites the broking process was clunky, inconsistent and prone to error and double data-entry. They had a large number of existing systems housing data, meaning compliance controls were key.
Working smarter to improve the broker experience
Liberty Create standardises the broking process for one region’s broking users. Simplifying broking processes has helped the company to build an app that ties all the processes, systems and data together in one automated workflow. This reduces the risk of errors and double data-entry.
This application works across the lifecycle of placing a client’s risk in the market. From pre-placement and placement, quotation and negotiation to firm order and binding, including endorsements and renewals. Everyone involved in the process is prompted to act specific moments and data flows between all relevant systems automatically.
It improves compliancy controls. Plus it’s now a template for a global roll-out of the same functionality across their different regions.
Creating a top-line revenue opportunity
The application now handles approximately 13,000 policies for 50,000 clients across 4,000 carriers. And the business has been able to create a top-line revenue opportunity as carriers will also be charged a % for dealing on the platform.
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