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Dynamics 365 creates process flow for insurance company
Root16 Reply used Microsoft Dynamics 365 to create a more seamless and accessible process flow from discovery to underwriting to onboarding for an insurance company in the trucking industry.
About the company
A Chicago-based insurance agency is changing the way insurance works for the commercial trucking industry. They pull together the power of telematics to provide their clients with fluid pricing based on the safety of their drivers, like a safe driving bonus, but for long-haul trucking.
What do telematics devices track when you're driving?
Everything from where you're driving, how fast you drive, the distance you drive, how fast you brake, and the number breaks you take while driving. Telematics devices collect a lot of information, and the insurance agency’s Fleet Service team adds even more information to this data pool.
THE CHALLENGE
Collecting safe driving information
The additional information they collect from their potential clients include onsite inspections, interviews with customer executives and drivers, drug testing results, formal disciplinary program(s), routes, states, and safety protocols. This information goes into a 30-page report for underwriters to review and identify red flags, using their innovative algorithm to produce the client’s initial quote. Once the client accepts the quote and signs the contract, the operations team takes over. They onboard the client by installing telematics devices and training them to upload data into the system in order to benefit from the fluid pricing structure.
THE APPROACH
Keeping information organized while collaborating with different departments
Many people are involved in collecting numerous metrics, and significant works needs to be completed to move the contract for potential clients forward in the onboarding process. When Root16 began working with this insurance agency, the company was less than a year old and managed its process with Word documents and emails.
As the team expanded and quote requests increased, the process quickly became difficult to manage. They needed a scalable, easy-to-use workflow that allowed employees to collect and organize data, analyze and discuss findings, and track outstanding tasks. They also needed a workflow that enabled more people to work within that workflow and copy it for multiple clients.
solutions
Process management with Microsoft Dynamics 365
Our team used D365 to create the process management workflow for the client. The initial focus was a native, low code build to minimize maintenance demands for the insurance agency’s internal staff. This process streamlined the transfer of data and process benchmarks across departments and team members. Using a form and folder system, employees can easily insert information to cross-reference and visualize, making trends and red flags stand out. The process includes capturing initial data in a standardized format, passing details to underwriting in a format they can quickly assess, preparing contract documents by prepopulating relevant details, starting the onboarding process, and continuing data collection. A progress bar shows the state of that client’s quote as it moves from discovery to underwriting to onboarding.
RESULTS
Understand the process to make the process flow
The client knew their initial process of sharing Word Documents via email was not a long-term solution, but they had no idea what they wanted that process to look like for a larger team. Although the company was new, most employees came from an insurance background, so they knew how convoluted processes could be from discovery to underwriting to onboarding. The growing company needed an internal process that was robust and flexible enough to grow with them. Root16 Reply was invited in to learn the interests and responsibilities of individual teams, so their work was properly accounted for in the new process.
The client benefited from the new internal process management solution and shared a lot of positive feedback. Best of all, the process was scalable, with the ability to handle more applications while simultaneously enabling more team members to collaborate within the workflows instead of being isolated. Some other results and benefits of using Dynamics 365 for their new solution: the client saved time, allowed for simultaneous processes to happen instinctively without excessive communication, decrease in miscommunication, consistency in data, decreased the need to search for data, made trends and errors easier to spot, gave underwriting a more holistic scope, and clarified who owned what part of the process.