At a glance
A leading Lloyd’s of London insurer was looking to accelerate growth across multiple lines of business. Credera was engaged to deliver a fully automated, cloud-based integration and data architecture for the organisation, which resulted in the successful launch of an underwriting workbench and enables automated straight through processing and augmented underwriting.
Growth constrained by inefficiencies in underwriting and an immature technology estate.
Looking to achieve rapid expansion across their various lines of business, the client was constrained by inefficiencies within their cross-platform underwriting. These inefficiencies manifested as inconsistent workflows, redundant data entry across multiple platforms, and difficulties in accessing vital data. Furthermore, their technology infrastructure was relatively immature, adding to the constraints on their growth potential.
Underwriting process re-engineering and implementation of underwriting platform.
To address these challenges, the client undertook a comprehensive approach to re-engineering underwriting processes across multiple lines of business that would drive efficiency and ensure consistency. Credera implemented an underwriting workbench that not only provided workflow management, but also offered a single ‘pane of glass’ view to all underwriting activity.
Lastly, we modernised their technology estate and established a cloud-based data architecture along with a robust integration framework, which included a framework encompassing micro-services integrations and designed data pipelines.
Fully delivered underwriting workbench and optimised workflows.
Credera successfully launched the underwriting workbench, supported by a fully automated cloud-based integration and data architecture, using established patterns and accelerators. This enabled the expansion of integrations into other business platforms and data sources, allowing automated straight through processing. The progressive buildout of advanced analytics in underwriting has resulted in augmented underwriting and market-leading underwriting operations.