Business SituationBefore issuing a life insurance policy insurers collect diverse information from third parties to inform the decision about whether or not to offer insurance.
At Liberty Insurance Services, the processes for collecting the information were manual, leaving highly skilled and well-paid underwriters chasing documents and supervising workflow rather than utilizing their specialized skills. Manual processes also meant the time taken to issue a policy did not meet customers expectations. With ever-increasing demand, the company was frustrated by its inability to process higher volumes of insurance applications without also adding staff and associated costs.
SolutionAvanade built an electronic integration engine that automated many of the manual administration tasks. The solution, based on BizTalk Server 2002, Avanade’s Enterprise Orchestration for Insurance (EOI) components, ACORD XML Schemas, and XML Web services, allows Liberty to automate the following processes:
ResultsWith this integrated solution, Liberty Insurance Services experienced the following benefits: