As PCG implements new underwriting and profitability initiatives, the Operations team is ramping up its partnership with Underwriting to execute changes accordingly. This collaboration has led to the creation of several new (and substantial) projects.
In particular, PCG’s underwriting guideline changes in California and Florida require us to augment our everyday workflows and processes, such as processing exponentially more “Do Not Renew” (DNR) requests where warranted. To process the DNR’s, we are partnering with Shared Services and have already seen our volume increase by 158% in June and July.
In another area pertaining to underwriting initiatives, Operations needed to support numerous changes to the new business quoting process in a short amount of time; CIP cannot support the required changes in an automated fashion until October. The team got creative in order to provide the desired outcome right away. On short notice, we manually adapted more than a dozen workflows and trained our team in a complicated rating process.
In addition to underwriting strategies, the Operations staff is searching for additional opportunities to assist the underwriters and UT’s to remove certain tasks and free up time in their day. One of these areas has been endorsement processing. The tasking for many rules on broker initiated endorsements has recently transitioned from the underwriters to Operations. As a result, a smaller percentage of endorsements will end up on the underwriters’ desk for review.
As PCG strategies continue to evolve, we will continue to look for more ways to assist in support of our shared goals.