The Customer
As a leading specialist insurance broker, Howden Insurance Brokers’ vision is to evolve their business and scale its client proposition, having invested heavily in attracting the best market talent and working with some of the best insurers in the world.
On investigation of its business capability, the organisation determined that in order to deliver value effectively they would first need to address their commercial operating model in order to meet their aspirational growth ambitions
The Journey
“My decision on transformation was one of empowerment. Empowering our staff and empowering our clients allows us all to unify the best of Howden Insurance Brokers. Softelligence, with their market experience, brought clarity to complexity and continue to help me deliver my vision: ensuring Howden drives change, rather than be driven by it.”
Mark Westgarth
Managing Director
(Financial Lines Group)
Howden Insurance Brokers Ltd.
“With the digital quote and bind solution we’ve delivered to Howden Insurance Brokers, we can say that this future looks confident and results achieved by our customer come to prove it: transaction times decreased by over 90% and a frictionless customer experience.”
Kaiko Forouhar
Head Of Operations
Softelligence UK Ltd.
Pains and Gains
HOWDEN CONSIDERATIONS
Managing legacy systems.
Innovating in a regulated manner.
Attracting expertise.
Demonstrating value to senior stakeholders.
SOLUTION BENEFITS AND FEATURES
IDENTIFIED PAINS
Costs of manual placement
Complexity of the process
Manual intervention
Business exposure
Need for physical office presence
Double keying of data
Many human touch points
PAIN RELIEVERS
Fully digitised insurance placement
Product specific Demands and Needs question set
Automated production and storage of policy documentation
Digital process enforces defined regulatory requirements
Online accessible anytime, anywhere, across any device
Integrated with existing systems
Process automation and streamlining
expected gains
Profit Margins on bottom & top line growth
Accuracy of client demands & needs
Redeploy people into value-add activities
Real-time access to data
Compliance Behaviour
Resilience to market needs
Operational management support
Insight for decision making
gain creators
Automating non-essential tasks
Dynamic Branch (Skip) logic
Data Visualisation
Rules engine
Agnostic layered architecture
Management reporting
Predictive Analytics
Results delivered
Transactions times reduced from 3 Hours and 46 minutes to under 20 minutes per policy
100% of risks sanctions screened & automated monitoring
Automatic validation on telephone & GDPR preferences
100% of all policy documentation automated removing any off-shore requirement
100% TCF Compliant with defined broker and Insurer roles
API enabled
Seamless collaboration with native system (sector)
Automated Bordereau Production
Operational Dashboard & Analytics
Want to Know More?
Click below to download the entire Howden Digital Quote and Bind Case Study, including detailed diagrams of how the solution works in comparison to the legacy approach.
