Scaling insurance quote capacity with reliable transcription
Company Size
11-200
Region
- America
- Asia
Country
- Nepal
- United States
Product
- CloudFactory Managed Workforce
Tech Stack
- Proprietary System
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Customer Satisfaction
- Employee Satisfaction
- Productivity Improvements
Technology Category
- Analytics & Modeling - Data-as-a-Service
- Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Functions
- Business Operation
Use Cases
- Remote Collaboration
Services
- System Integration
- Training
About The Customer
IC is a specialty insurer based in California, USA, with a company size of 11-50 employees. The company focuses on providing catastrophe insurance quotes for personal and commercial properties. With dozens of daily requests for quotes, IC needs to quickly organize incoming data from emails to enable underwriters to offer competitive quotes rapidly. The company faced challenges in managing rapid growth due to the time it took to process the high volume of complex information from its many agency partners. Partnering with CloudFactory has allowed IC to expand its product line and sell more insurance by efficiently handling data processing.
The Challenge
Before partnering with CloudFactory, IC struggled to manage rapid growth because of the inability to process a high volume of complex information quickly from its many agency partners. The company faced limitations in the number of quotes it could offer due to the time-consuming process of gathering necessary information. This bottleneck hindered their ability to expand their product line and sell more insurance in a competitive market. The challenge was to find a solution that could efficiently handle the influx of data and streamline the quote generation process.
The Solution
IC partnered with CloudFactory, utilizing one of their managed teams in Nepal to organize and annotate email submissions. The 10- to 11-hour time difference between the U.S. and Nepal teams proved advantageous, allowing the Nepal team to work while the U.S. team was offline. This setup ensured that a queue of processed data was ready for the U.S. team each morning. Initially, CloudFactory took longer per submission to ensure accuracy, but as they got into a rhythm, they maintained high accuracy while speeding up the process. The low turnover rate of data analysts, with an average tenure of 16 months, contributed to the smooth operation. CloudFactory's managed workforce also assisted IC in transitioning to and launching a new submission platform, loading 1,000 records quickly and efficiently. The platform migration process took just two weeks and one training session, making the transition seamless.
Operational Impact
Quantitative Benefit
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