Software Development: Automated Trading Process
Policy Portfolio (Fedsure)
Brief
Automate the trading process for this leading broker in life assurance endowment policies.
Business Case
An electronic valuation and quotation process will generate purchase offers substantially faster than competitors’ manual processes. Greater speed to market will allow capture of an increased share of this competitive trade.
Implementation
As with many projects, once the analysis and planning phase had begun many further opportunities for functional integration arose. It became evident that not only quotations, but the whole cumbersome office work and trading processes could be integrated within one tightly controlled system.
What was initially a simple brief eventually produced a powerful, comprehensive workflow tool. And through this a complex administrative process that had formerly taken days could now be completed in hours.
This impressive business system handles the records of 200,000 policies and allows concurrent use by more than fifty operators. It tracks the progress of every transaction for each policy and records details of all associated communications. In operation it has proved outstandingly robust and reliable, requiring very little maintenance.
Benefits
- speed to market of quotations is dramatically increased
- market share and revenue rise while administrative costs diminish
- repetitive low-grade office work is eliminated by automatic generation of standard letters and documents
- staff are able to focus on business rather than paperwork
- outputs of comprehensive, reliable management information allow tight control of the company
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