AIG United Guaranty, an AIG subsidiary, has implemented Global 360’s Case360 product to cost-effectively manage its entire underwriting process, enable entry into new markets and reduce dependency on paper-based processes.
Prior to implementing Case360, lenders submitted paper loan files to regional offices for underwriting. With a large volume of cases to process daily, AIG United Guaranty needed a product that would reduce its dependency on paper-based filing systems, more effectively manage the flow of work and create competitive advantages for the company and its customers.
At any given time, AIG United Guaranty will route 240,000 pages of loan files through the review process, which can be very time-consuming and difficult to manage when processes are paper-based, said Jeff Ferguson, vice president of applications development at AIG United Guaranty.
Using Global 360’s Case360, we developed a new paperless underwriting process called DPI Underwriting – digital, paperless and innovative – which gave our lenders the framework and support needed to more efficiently submit and manage the underwriting process, he continued. The expansion of our paperless capabilities means we can accommodate our lenders needs, reduce costs and provide the services and support our customers have come to expect.
Today, underwriting documentation is submitted electronically into the Case360 repository, where information is stored in a queue until underwriting resources are available for processing. Once an underwriter becomes available, an electronic case containing all necessary documentation is presented to the AIG United Guaranty employee, regardless of location. Once necessary underwriting steps have been completed, the case is closed and moved back to the repository for archival.
This new automated work process creates a single point of access for underwriters, auditors and managers, and enables a balance of workload among staff, improving efficiency and cycle turnaround times.
In addition to creating this new system, AIG United Guaranty has used Case360 for analyzing process data. The business process management capabilities within Case360 give the insurer the tools to gain a greater understanding of application processing statistics that provide insight into how its processes are modeled and ways to continue increasing efficiency across the organization.