Analysis identified rapid underwriting decisions as a key influencer of offer acceptance rates Implementation of a rulesbased underwriting engine had increased application backlog to unacceptable levels ID: 794397
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March 11, 2010
Business ImperativeAnalysis identified rapid underwriting decisions as a key influencer of offer acceptance ratesImplementation of a rules-based underwriting engine had increased application backlog to unacceptable levelsDepartment required process and organization changes to leverage the new technology and realize promised efficienciesProject ObjectivesIdentify process efficiencies to reduce underwriting cycle time, increase processing capacity and reduce backlogAssess organizational alignment and business integration issues not addressed during the technology implementationDeliverablesCurrent state process analysis, including process flows, SIPOC analysis, and transaction analyticsEngineered time studies - activity-based cycle time analysis for all primary activities for the end-to-end underwriting processProcess impact analysis of scheduled technology upgrades and additional enhancementsInsightsUnderwriting department was not being effectively managed owing to lack of business analytics and management’s understated sense of urgencyActivity-based analysis identified low-value tasks assigned to skilled staff, reducing available hours on core Underwriting activities; active technology renewal projects place an additional burden on staff timeBusiness integration efforts were sub-optimized, resulting in additional investments and effort required to make the technology improvements effectiveROIIdentified process reengineering and organization changes to drive a 33% capacity increase, reducing inventory to industry competitive levelsAttadale partnered with client staff to design implementation activities and co-lead initial rollout and implementationResults are currently meeting analysis and business case estimates, exceeding client expectationsBacklog has been effectively reduced to zero
Case Study: Improve Underwriting Cycle Time
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