An international underwriter specializing in insurance and reinsurance in the property and casualty market.
The client grew significantly through acquisition and needed to streamline efficiencies and reduce costs across their organization. To achieve this, Sutherland conducted in-depth onsite assessments where our team organized reviews by observing and mapping processes, and interviewing subject matter experts.
Overall the research revealed several opportunities for improvement:
A solution was developed leveraging multiple locations across the globe that improved the overall utilization of accounts payable and accounts receivable staff, allowing them to focus on more strategic, forward looking activities. This also allowed Sutherland to handle the bulk of the transactional work. Additionally, Sutherland added infrastructure to enhance the current processing, increasing quality, transparency, leveraged digital methods to implement more sustainable and less paper-reliant processes, and decreasing the overall cost of technology.
Gains were both financial and qualitative in nature.
Through continuous process improvements, future implementations will further drive down the cost of processing, centralize ownership, and improve performance.
