Speciality insurer sees exponential increase in quality of peer review process to deliver business efficiency
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.
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.
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
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