Powering Up the Efficiency of an Underwriting Business With Multi-Cloud Technology Implementation

Business Overview

ASU is a well-established underwriting company that works to bridge the gap between insurance takers and providers by offering comprehensive underwriting services for claims and insurance purchases. The company did not have any existing portals or Salesforce, so our team helped set up a Salesforce System for ASU, including the setup of all insurance products and portals to handle all broker, client, and carrier activities.

Challenges:

• Incurring High Integration Costs and Inefficiency in Data Parsing:

ASU faced a major challenge in modernizing its underwriting process by extracting data from hundreds of diverse PDF documents. These files contained crucial policyholder information, claim histories, and risk assessments but varied widely in format, quality, and content. The company encountered numerous obstacles, including inconsistent layouts, complex tables, password protection, poor scan quality in older documents, and higher integration costs through third-party applications.

These issues slowed down the underwriting process and introduced risks of errors in risk assessment and pricing decisions. ASU needed a robust PDF parsing solution that could accurately handle various document types, extract data reliably, and integrate with their underwriting algorithms.

• Difficulty with Complex Quotation & Document Generation Process:

ASU required an advanced solution to handle its complex quoting process, which involves up to 200 line items per PDF quote. To ensure efficient underwriting operations and maintain accuracy, they needed a system capable of managing intricate quote structures while preserving performance and data integrity in their insurance policy issuance and pricing processes.

• Failing to Implement Custom ITSME SSO:

ASU faced a significant challenge integrating the ITSME API to obtain accurate business information, legal structure, registration details, etc. This integration required a custom Single Sign-On (SSO) solution for secure login to the store. Additionally, they needed to authenticate brokers on guest pages during onboarding using the ITSME SSO. ASU must ensure seamless and secure access while managing complex authentication processes crucial to the project’s success.

• Challenges with Data Validation and Inconsistency in Excel:

ASU relied on a single Excel sheet with multiple validations to be filled out by brokers or risk site contact persons. Ensuring the data was entered correctly without many changes to the validations, format, font, or cell placement became a significant issue. The ability of users to modify the Excel sheet often led to inconsistencies and errors, complicating the data entry process.

• Facing Difficulty with File Storage Issues:

ASU experienced difficulties managing and storing large volumes of policy documents and related files uploaded by clients or brokers. The existing storage solutions were not scalable, leading to frequent data retrieval issues, increased storage costs, and challenges in efficiently searching for specific data or files.

• Difficulty Developing a Broker Portal:

ASU faced a significant challenge in developing a dedicated portal for brokers to manage their clients and policies effectively. The absence of such a portal limits brokers’ access to crucial information and tools necessary for efficient policy management and client interactions. Additionally, brokers working in multiple companies with different profiles required various levels of access based on the selected company and profile on the portal. Implementing these complex access controls and ensuring seamless functionality posed a major challenge for ASU.

• Challenges in Developing a Unified Insurance Platform:

ASU cannot create a unified online platform for different insurance types. The challenge arises in developing a dynamic architecture to efficiently handle shared components and product-specific elements across various insurance offerings. This required a delicate balance between flexibility and consistency to ensure a seamless user experience for all their products.

• Difficulty in Implementing Multilingual Functionality:

ASU faced a critical challenge in expanding its global reach through its online platform. The company needed help implementing robust multilingual functionality to cater to users from diverse linguistic backgrounds. This required adapting the website’s structure to accommodate different languages seamlessly, not only translating content. The challenge was compounded by the need to maintain consistency in complex insurance terminology across languages, ensure accurate legal and technical content translations, and provide a user-friendly interface that could easily switch between languages.

Solutions

Our experts implemented several innovative solutions leveraging Salesforce technology, custom developments, and Sales Cloud, Service Cloud, Salesforce Industries (Vlocity), Financial Service Cloud (FSC), and Experience cloud integrations to streamline operations, enhance data management, and improve user experience across multiple aspects of their insurance underwriting business.

Icon: Lightning Web Components (LWC), Azure Blob Storage, Account Contact Relationship Object, Custom Single Sign-On (SSO) Solution, Salesforce Industries (Vlocity), Custom Labels, Financial Service Cloud (FSC) and Experience Cloud (Formerly known as Salesforce Community Cloud).

• Interactive and User-Friendly LWC Interface for Data Entry and Validation:

Developed Lightning Web Components (LWC) in Salesforce to create an interactive and user-friendly interface on the portal. Eliminated the need for manual data parsing by allowing direct data entry and validation through the LWC interface. Streamlined the data collection process, reducing errors and operational costs, and significantly improving efficiency.

• Advanced Quoting Solution using Custom LWC in Salesforce Industries (Vlocity) for Efficient Underwriting Operations:

Our team implemented a custom solution in Salesforce Vlocity using JSON-based quote structures to solve ASU’s complex quoting challenge. This allowed the system to efficiently handle quotes with up to 200 line items while maintaining performance and data accuracy. It significantly reduced manual intervention by automating data flow and integrating the solution with ASU’s policy issuance and pricing processes. The streamlined quoting process enhanced underwriting efficiency and ensured that quotes were accurate, meeting all business rules.

• Implemented Custom SSO Solution to Enhance Efficiency:

Our team implemented a custom solution to address ASU’s challenge of integrating with the ITSME API to obtain accurate business information, legal structure, and registration details. By overriding standard Aura components and utilizing custom implementations, we successfully integrated ITSME with Salesforce. This included developing a custom Single Sign-On (SSO) solution for secure store logins and authenticating brokers on guest pages during onboarding using the ITSME SSO. This integration ensured seamless access to critical business data, enhancing ASU’s operational efficiency and data accuracy.

• LWC-Based Solution for Streamlined and Accurate Data Collection:

To address the challenge of relying on a single Excel sheet for data entry, which often led to inconsistencies and errors, we implemented a robust solution using Salesforce’s Lightning Web Components (LWC). This solution eliminated the need for manual data entry in Excel by enabling direct data input and validation through a user-friendly LWC interface. This streamlined the data collection process, significantly reducing errors and operational costs while enhancing overall efficiency. The data was seamlessly stored in Salesforce through the LWC components, ensuring accuracy and minimizing the effort required for data management.

• Azure Blob Storage Integration for Easy File Management:

To overcome ASU’s difficulties in managing and storing large volumes of policy documents and related files, we integrated Azure Blob Storage. This scalable storage solution efficiently handled growing data volumes, enabled quick data retrieval, and reduced storage costs. Our team organized documents into specific containers based on type or category, ensuring easy access and management of files. This integration improved ASU’s document management capabilities and operational efficiency significantly.

• Developed Broker Portal on Experience Cloud and Implemented Dynamic Role-Based Access:

To limit access based on roles, our team used the ‘Account Contact Relationship’ object, ensuring various levels of access based on the selected company and profile. This approach enhances brokers’ ability to manage clients and policies efficiently. Also, our team Implemented access control with roles such as Super Admin, Branch Admin, and Manager. The portal which was built on Experience Cloud included features, like a KPI dashboard, branch and broker management, customer and policy records, invoicing, payment integration, and custom login/logout pages. Brokers could approve, reject, or request modifications to quotes, with reasons to reject and track version upgrades.

• Dynamic LWC Architecture for a Unified Multi-Insurance Platform:

Our experts developed a dynamic architecture leveraging Salesforce’s Lightning Web Components (LWC) to address ASU’s unified online platform challenge. We made a user interface featuring icons for various insurance types, enabling users to select the appropriate insurance product. Each selection is dynamically linked to specific objects managed by a picklist field categorizing the insurance types. This solution provided the flexibility and consistency, necessary to ensure a seamless user experience across all insurance offerings.

• Implemented Multilingual Functionality for Global Audience using Custom Labels:

Our team helped ASU implement a robust multilingual functionality using custom labels in Salesforce to overcome the challenge of expanding its global reach through an online platform. This solution enabled seamless portal translation into the required languages, ensuring consistent and accurate translations of complex insurance terminology, and legal, and technical content. Moreover, it provided a user-friendly interface that allowed easy switching between languages, enhancing the user experience for a diverse and global audience.

Benefits

• Streamlined operations and reduced costs with automated processes and LWC components.
• Ensures seamless data flow and real-time updates with robust integration mechanisms.
• Delivers user-friendly portals with role-based access control.
• Enables automated policy creation and renewal reminders.
• Comprehensive data access and enhanced reporting for informed decisions.
• Scalable storage solutions with Azure Blob Storage for efficient data management.

ASU Enhanced Its Overall Operational flows with our Salesforce Implementation Services and Delivered Its Users with a Sublime Experience.

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