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Insurance new business process diagram

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abhinayverma

This slide gives a high level overview of the New Business Acquisition process for Insurance companies. Exact process may vary based on firm, line of business etc. but at a high level, this process overview should suffice.

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INSURANCE: NEW BUSINESS ACQUISITION High Level Process Overview (This is a generic process which may not be applicable as described to all situations, firms and lines of business) By: Abhinay Verma 1. Prospect contacts the Broker for 03 04 05 information 2. Broker analyzes request and sends the relevant forms to the Prospect Prospect Junior Executive Mail Room Staff 3. Prospects completes and mails 01 application form 4. Junior Executive forwards incoming 06 applications to mail room 5. Forms are scanned 02 Scanned 6. Scanned forms are uploaded to 09 Forms Content Management System Data Entry 7. Content Management System Operator triggers a new case in CRM Broker 8. CRM Supervisor assigns the new case to a Data Entry Operator 11 10 9. Data Entry Operator refers to the scanned forms while completing data entry NIGO Validation 10. After entering all data in the CRM Content system, Data Entry Operator Management submits the case for NIGO System 12b 12a validation 07 11. Validated records with status are sent to the Reviewer who checks the case for all relevant information Reviewer and forms and can override NIGO/IGO status 12. Applications with NIGO status are 08 sent to NIGO resolver. Those with IGO status are accepted and sent to Underwriting IGO NIGO Application Application CRM Supervisor

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Insurance new business process diagram

  • 1. INSURANCE: NEW BUSINESS ACQUISITION High Level Process Overview (This is a generic process which may not be applicable as described to all situations, firms and lines of business) By: Abhinay Verma 1. Prospect contacts the Broker for 03 04 05 information 2. Broker analyzes request and sends the relevant forms to the Prospect Prospect Junior Executive Mail Room Staff 3. Prospects completes and mails 01 application form 4. Junior Executive forwards incoming 06 applications to mail room 5. Forms are scanned 02 Scanned 6. Scanned forms are uploaded to 09 Forms Content Management System Data Entry 7. Content Management System Operator triggers a new case in CRM Broker 8. CRM Supervisor assigns the new case to a Data Entry Operator 11 10 9. Data Entry Operator refers to the scanned forms while completing data entry NIGO Validation 10. After entering all data in the CRM Content system, Data Entry Operator Management submits the case for NIGO System 12b 12a validation 07 11. Validated records with status are sent to the Reviewer who checks the case for all relevant information Reviewer and forms and can override NIGO/IGO status 12. Applications with NIGO status are 08 sent to NIGO resolver. Those with IGO status are accepted and sent to Underwriting IGO NIGO Application Application CRM Supervisor