Our client wanted to automate the manual process of policy transactions between carrier-to-agency with an API-driven process and connected with Exavalu for our expert consultation and implementation services.
Challenge
1
In the insurance industry, carriers are obligated to provide policy change updates to the agents. The underwriting team of our client used to manually create spreadsheets for such transactions and pass them to the agencies in different layouts. This manual process happened to be extremely time-consuming and riddled with errors, requiring immediate transformation.
The Difference Exavalu Delivered
- To eliminate the challenges of manual processing, we developed a custom solution using MuleSoft APIs. The solution automated the policy change updates from the Carrier’s Guidewire Policy Center to the agency system. The Transactions are posted in real-time to the agency system in Acord AL3 format. We utilized an innovative file schema solution to support the Acord AL3 interface. The solution was delivered within 3 months using security and logging best practices. The automation of policy transactions led to a 70% workload reduction of the underwriters and agency staff and 3x faster project delivery with a common Schema.
Services Offered
- Advisory
- Implementation
Benefits
