Client Profile:

The client is a leading MGA in the country and a subsidiary of a large Global Insurance Company.

Business Challenge:

• Grow the business while keeping costs low.
• Make staff more productive and have producers focus on core business rather than routine transactional activities.
• Decrease turnaround time for quotes and issuing policies.
• Augment their underwriting staff in new branches with highly trained insurance staff.

VA Solution:

Set up a Back office support team to help solve and manage client’s key challenges.

Results:

• Client has more focus on revenue growth
• Less time spent on non-core tasks
• Reduced Turnaround Time (RTT) - Policy Processing time cut down from 45 days to 10 days
• Client is processing 20-30% additional submissions without adding headcount
• Cost per Quote cut by 30%
• Error rate has dropped significantly
• Standardization of front end process across all branches for Client.
• Ability to scale based on business demands