The challenge
The underwriting functions of this market leading insurer were perceived to have become burdened with significant amounts of low value activities and inefficient working practices. Broker relationship management and business development activities were becoming constrained by sub optimal administrative and regulatory tasks.
Our Approach
We designed and delivered of a Lean business process optimisation project tackling inefficiency and low value activities constraining underwriting activity in broker facing and back-office support operations.
The workshops identified substantial process waste particularly in re-work, over-processing and correction. The output was organised as a set of immediately actionable process improvements, organised and prioritised by type and impact.
The Outcome
Our client was able to take and immediately action the process improvements into their underwriting business functions. The resulting findings were also used to influence application design and systems and process integration in the medium term.
A collaborative and valuable engagement. Stratiformis helped break down a complex regulatory subject matter into clear, actionable plans and business outcomes, and supported the end-to-end shaping and implementation of the program over 18 months. Having a trusted advisor and SME alongside our team meant a more efficient and focused delivery overall.
Stratiformis engaged in a focussed and accelerated manner to develop a comprehensive operating model capability breakdown, along with identification of the firm’s critical business processes Given the breadth of stakeholders and the inherent complexity of the processes, this work required both rigor and strong business insight — all of which Stratiformis delivered with diligence and professionalism.