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The benefits of governance and workflow for MENA (re)insurers

[fa icon="calendar"] 11-Apr-2013 15:47:00 / by Kevin Richmond

At Eurobase, we have invested millions of pounds in our synergy2 end-to-end policy administration system and framework for the global market.

A universal Governance challenge
Every business, and particularly every insurance business, needs to improve both its process efficiency and governance. The challenge is to try and improve both. It would be easy to make processes more efficient by reducing governance, or vice versa.

What did we do?
We started with Business School 101 – you can’t manage what you can’t measure – and so we added a configurable metric collection and reporting facility. In synergy2, you can collect and monitor how long any process is taking, and even send management alerts for sticky processes. This can be particularly relevant for static claims. On top of this, we have tightly integrated SharePoint Workflow, and we provide a comprehensive set of industry-specific process models to kick start our implementations.

Solvency II processes, and their equivalents, and review requirements are brought into the scope of the workflow rules, and every step in a process can be monitored and reported. Peer reviews can be added to any process, driven by any data. This means that underwriters can have different maximum authorisation limits for different classes of business, some peer reviewed, some not. With synergy2, those rules and limits can be configured completely to your requirements and, using our maintenance options, you can adjust those settings according to your changing needs.

Immediate benefits
Workflow management improves customer service, fundamental to your brand value, and with synergy2 and SharePoint Workflow this can be achieved with minimal training needs. You can be up and running in weeks, running and managing your business using synergy2.

Longer term benefits
We all know it’s easier to iterate improvements rather than to start with a blank sheet of paper, so once you’re live and you’re collecting great performance metrics for the first time, then synergy2 clients can tweak the processes themselves, and add new ones, to provide an exceptional return on their synergy2 investment.

Tell me more
To find out more about synergy2 and its process management, contact Paul Buckle - Business Development Executive. We’d be delighted to meet you and show you how synergy2 can transform your business.

Topics: Insurance

Kevin Richmond

Written by Kevin Richmond