Global 360, a leading provider of business process management (BPM) and optimisation solutions, today announced that Symetra Life Insurance Co. reports increased productivity and business growth, without the need for additional staff, since the implementation of Global 360's BPM Suite.
With Global 360, Symetra found the functionality, performance, intelligence and flexibility they were looking for in a business process management solution.
Symetra is a top 50 life insurance company, based on admitted assets, offering a wide range of insurance and investment products, including individual life insurance, group life and disability income insurance, annuities, and retirement plans. Historically, Symetra's application process was a paper-based system that required the company's staff to physically move paper throughout the organization by filing it, tracking its location, and retrieving it when requested.
"Primarily, we needed the flexibility to handle multiple types of workflows and automate processes. We were looking for a product that could make intelligent decisions," said Mike Madden, Vice President of Individual Life for Symetra. "The Global 360 solution not only met our requirements, it's far exceeded our expectations."
With the implementation of Global 360's BPM Suite, Symetra's processes have been streamlined by eliminating the paper and automatically routing electronic documents to their staff and outside vendors. Symetra's internal processing time has been reduced by four days, which allows the company to handle 67 percent more applications, as well as engage a new sales channel, both without increasing staff. Symetra also reports increased customer satisfaction because they are able to respond to customer questions in a matter of seconds.
"Global 360's BPM solutions are ideally suited to address the goals set by Symetra to increase efficiencies and streamline their processes," said Michael Crosno, president of Global 360. "By transitioning the paper-based work model to a more automated and efficient structure – we were able to help this important customer increase productivity and give them a competitive advantage."