INSURANCE & FINANCIAL SERVICES
Accelerate underwriting processes to deliver a better, faster customer experience
The Client
A top 10 global financial services and multi-line insurance company with operations in more than 20 countries, this company employs 25,000 people and serves 29 million customers worldwide.
The Challenge
Faced with fragmented tasks across various streams, including conducting loss control surveys, determining coverages, pricing, and quoting for custom programs, and despite implementing a modern core system primarily for record-keeping, all preliminary underwriting tasks were manually managed, with ancillary data stored in spreadsheets.
The company aimed to streamline the underwriting process by replacing manual work and email collaboration with a unified, accessible platform. They needed a solution that provided role-specific access to comprehensive data, enabling faster new business writing and automated data refresh for seamless renewals.
The Lowcodeminds Solution
​​Using Lowcodeminds' solution, the company digitized and streamlined the underwriting process, improving partner management, submission, rating, quoting, and binding, and also enhanced territorial analysis, decision tracking, integrated with third-party systems like AXCO, and introduced visual reporting for coverage towers and SLAs.