Legacy peer review system completely rebuilt using Bizagi delivered 200% quality improvement, reduced backlog of pending reviews by 40% and automated audit trail
We’ve exceeded expectations. The real improvement and key measures are in quality, which has improved by 200%. Time saving has been an unexpected benefit.
Synopsis
The UK-based specialty insurance provider was looking to optimize their legacy peer review system which was almost 20 years old and had led to a backlog of over 500 items.
In just four months, the peer review system was completely rebuilt, improving the quality of processes by 200%, whilst taking 25% less time. The centralized platform also produces an automated audit trail and provides users with a more comprehensive view of the policies.
In just four months, the peer review system was completely rebuilt, improving the quality of processes by 200%, whilst taking 25% less time. The centralized platform also produces an automated audit trail and provides users with a more comprehensive view of the policies.
Objectives:
- Replace legacy software with centralized peer review solution
- Improve the standard and timeliness of peer review completion
- Reduce dependency on email and improve action point follow up
- Save time opening large Excel documents and eliminating Batch performance issues
- Create processes in adherence with Lloyd’s Underwriting Minimum Standards and deliver audit trail
Achievements:
- Increased quality level across peer review process by 200%
- 25% less time spent on process thanks to all peer, quote and policy reviews being centralized
- Reduced backlog of pending reviews from over 500 to less than 200
- Entire peer review system built and set live in just 4 months
- Centralized access to historic review information to improve decision-making capabilities
- Automated audit trail in compliance with Lloyd’s Underwriting Minimum Standards
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