Reinsurance Solution: Compatible with PC, macOS, and mobile Inability to collaborate on the same quote submission.Inefficiencies in managing the underwriting process.Lack of control over the number of quote submissions.Inability to track and audit the deal memos.This presented significant challenges and risks: When a new quote submission arrived, the deal memo was reviewed manually by different stakeholders until the final legal approval, then it was stored in a physical folder for archival purposes. The reinsurer was still handling critical underwriting processes manually, on some of the largest insurance transactions in the world. This example shows how Power Automate can be used with the other elements of the Power Platform to automate and dramatically cut process time for a reinsurance client. Power Platform in Action: Reinsurance Underwriting It can be used on its own or in collaboration with Power Apps, Power Bi, and Power Virtual Agents. Power Automate can be used in almost any industry, although it reaches peak value for any business that need process improvements to remain competitive. Business process flow: when you need simple and effective productivity improvements.Desktop flow: when you want to automate tasks on your desktop or via the web.Cloud flow: when you want your automation to be triggered either automatically, instantly or via schedule. Power Automate supports various types of flows: Power Automate comes with pre-defined automation templates to begin with or you can build one from the scratch. Power Automate Integrates seamlessly with all the other components in the platform. Little or no data integration with critical business applications.Inefficient/unstructured communications with internal and external audiences. Completely unnecessary, repetitious tasks.With Power Automate you can re-engineer and streamline workflows that used to take months down to just a few hours, removing the pain of: Why Are You Waiting to Automate? Why are you waiting to streamline convoluted processes that kill deal flow, customer service performance, HR functions, and financial reporting/payment systems?
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