The Hartford Steam Boiler Insurance & Inspection Company, a former AIG company now owned by Munich RE, is a global specialty insurer and reinsurer. RSTN was engaged first develop a comprehensive business case and CBA for the project, which projected productivity & efficiency gains amounting to the equivalent of 10 fulltime employees (FTE’s). RSTN was then engaged to implement the full project and deliver the projected benefits. Post implementation analysis showed that theactual productivity and efficiency gains achieved allowed HSB to process the same amount of transactions with 10 less staff – the quantifiable benefits were achieved. Note that rather than eliminating these 10 FTE’s, the processing center instead absorbed additional processing responsibilities amounting to work of 10 additional staff.
The HSB BPM project involved the electronic capturing of quotation data and supporting documents at all of HSB’s sales & underwriting offices located across the United States. The underwriting information, now part of a BPM case folder, is then electronically routed to a national processing center outside of Philadelphia; intelligently routed to the proper processing area; automatically prioritized to ensure that the case is processed within the established services standards set forth by the processing center for each transaction type; and finally assigned to the most suitable user based on the user’s skills & authorities.
The processing center now provides centralized underwriting prep work and “binds” (contract issuance services) for the entire sales force and underwriting teams across the United States. Integration with HSB’s customer service portal allows requests from customers to be channeled directly into the BPM system and directed to the correct customer service support staff. It also allows the sales staff, partners and brokers to monitor the status of the transactions and the progress of the work being performed in the BPM system at the service center.