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Improved Approval Processing Time by 50%, Workflow Implementation

Implemented a New Technology Platform in Support of the Request for Capital Expenditure Process for a Large Research-based Biopharmaceutical

Improved Approval Processing Time by 50%, Workflow Implementation

Implemented a New Technology Platform in Support of the Request for Capital Expenditure Process for a Large Research-based Biopharmaceutical

Overview:

Implemented a New Technology Platform in Support of the Request for Capital Expenditure Process for a Large Research-based Biopharmaceutical

Business Issue:

The organization needed assistance implementing a new Carrier Point of Sale/Premium Accounting system for use by both its captive and independent agent networks.  This required a redesign of the underwriting services and premium accounting business processes to leverage the new system and ensure the realization of the targeted benefits.

Actions:

  • Developed and implemented optimized processes for Underwriting and Premium Accounting functions
  • Documented detailed procedures for the Premium Accounting functions, supporting the new process design
  • Created documented job responsibilities and performance criteria to assist with performance and HR-related reviews
  • Created new systems training materials for Premium Accounting implementation
  • Conducted rollout training and implementation support for the Premium Accounting processing team
  • Monitored daily metrics to assist with system enhancement requests

Results:

  • Implemented new processes and procedures in support of the new technology in under 90 days

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