Real-time Submission Lifecycle Tracking
Managing and tracking the workflow of the submission lifecycle reveals numerous dependencies among departments, clients, brokers and agents. The submission process is what begins the web of underwriting, booking and policy issuance, and claims processing. Large insurance companies struggle with capturing and making sense of the data to have the right key performance indicators to manage their business (examples: quote ratios, underwritten ratios). The root causes of these challenges are:
- Data is locked up in silos, causing organizational units to not share information
- Data entry is difficult, causing information leakage
- Tracking becomes manual and therefore time consuming and over time, work ceases as cost controls are established
Kingland believes that there is a better way to understand the front end of the insurance process, eliminate manual workarounds, and manage your business by real facts.
Throughout the submission lifecycle, Kingland offers a single, streamlined tracking and workflow management solution to initiate the underwriting process for clearance of incoming submissions, eliminate internal competition, and manage pipelines and key performance ratios. Brokers and underwriters share information in real-time throughout the major lifecycle events of a submission. Insurance providers have access to intelligence reports that support decision-based sales and predictability decisions. All this happens due to the solution's ability to gather data at each stage of the workflow.
Contact Kingland today.