As a virtual insurer Pen underwriting fulfil the functions and services of a traditional insurance company from sales, distribution, pricing and product innovation through to claims, analytics and governance. With a partner network of over 350 coverholders the Pen underwriting team deliver risk, policy and claim expertise in the UK market.
Pen underwriting handle over 500 bordereaux on a monthly basis. With policy, claim and risk files covering multiple ines of business, maximising operational efficiency for processing bordereaux is key. Partner source systems generating multiple bordereaux with varying formats meant consolidating data was a challenge.
Getting partner data into a format which could be used internally for downstream system processing and reporting was an overhead for the operations team and impacted market responsiveness.
Pen Underwriting used gather360, a lightweight, easy to use solution that integrates into existing systems to speed up the process of consolidating and processing bordereaux data.
Using gather360’s easy to configure interface, Pen Underwriting were able to create a standardised, automated approach to collect, cleanse, transform, consolidate and quality-assure partner data to integrate with downstream systems.
The inbuilt mapping system enabled Pen to define standard rules for data governance, which are then checked by the system. These checks are then evidenced by a unique ID, providing an auditable approach which verifies that data has been quality assured..
With no set-up constraints the solution was easy to deploy with minimal disruption to business operations.
Using gather360 led to a marked increase in efficiency for Pen Underwriting, who were able to process bordereaux files an average of 94% faster.
By using the system, the operations team have a better understanding and visibility of the partner data coming into their business. With this improved transparency the team were able to effectively manage the root cause of bottlenecks caused by data and have a more governed approach for managing business data.
- Overall speed of processing bordereaux has gone from hours to minutes
- Pen have an automated, streamlined process for managing partner files with improved overall operational efficiency
- Data cleansing, validation and transformation rules are enabled on partner data removing the need for manual intervention while maintaining data integrity
- By utilising gather360's available data enrichments, Pen have enhanced standalone datapoints with additional data providing more context and in turn enabling better informed business decisions
- The system-generated unique ID has provided business teams with confidence in their data quality
- A ‘slick, user-friendly tool’ with chat support means on-boarding new users is seamless
- gather360 has provided an alternative and easier delivery model to traditional solutions
“WITH gather360 WE’VE SEEN A SIGNIFICANT REDUCTION IN THE TIME REQUIRED TO PROCESS OUR BORDEREAUX. COMPLEX FILES WHICH PREVIOUSLY TOOK HOURS CAN NOW BE RESOLVED WITHIN MINUTES.”
MICHELLE BREE -DIRECTOR OF OPERATIONS, PEN UNDERWRITING
gather360 delivers quality data, faster. Designed for the business user, not the IT team, gather360’s easy-to-use solution can be customised to automate data collection, validation and consolidation for any business data requirements, such as performance reporting, customer data collection, supply chain monitoring and more.
A cloud based solution, gather360 can be implemented within days and integrated into operational systems or used as a standalone solution for managing business data while ensuring data governance.
To understand how you can decide if gather360 is a fit for your business call us on +353-1-2548820 or email firstname.lastname@example.org
“THE PROFESSIONALISM, RESPONSIVENESS AND ABILITY TO PROBLEMSOLVE DEMONSTRATED BY THE TES TEAM THROUGHOUT THE ENGAGEMENT WAS JUST AS IMPRESSIVE AS THE PLATFORM ITSELF”
MICHELLE BREE, DIRECTOR OF OPERATIONS, PEN UNDERWRITING