Insurance success stories: how Aon, Marsh McLennan and more automate with FlowForma

Paul Stone00:00

We thought we'd give you a view of what some of our insurance customers are doing with FlowForma: the areas they're concentrating on, and what they're achieving.

Paul Stone00:08

Aon, for example, has used FlowForma to manage client onboarding for many years, automatically validating and processing new client requests and updating client details in its client database. Aon now also uses FlowForma for policy management, so brokers can view an individual's policy details, update information on those policies, and carry out actions such as creating a new policy, renewing an existing one, or recording an endorsement. That can all be done automatically.

Paul Stone00:48

FlowForma's intuitive interface puts a lot of control over the way data is captured and presented to the end user, and that's making a real difference to the number of queries Aon has to deal with. Queries are back-end actions caused by inaccurate data: a broker selects the wrong insurer, inputs the wrong information or calculates the wrong commission rate.

Paul Stone01:18

In the past, a query agent would have to raise that with the broker, who would resubmit the information, which consumed a lot of time. FlowForma now validates all that information up front, so the whole process runs much more smoothly, and it ultimately saves a lot of time and cost in processing queries.

Paul Stone01:42

Marsh McLennan is another long-term customer. It primarily uses FlowForma for IT governance. As you might imagine, it has a complex governance framework, and it uses FlowForma to ensure every application in the organization is installed, deployed and reviewed properly.

Paul Stone02:07

That relies on FlowForma's ability to create an audit trail and carry out compliance actions automatically, to make sure everything is working in a compliant manner.

Paul Stone02:20

Protection and Prosperity uses FlowForma for the fact find, where a broker meets a client, clearly identifies their needs and presents them with a financial case the client must accept. That whole process is managed in FlowForma, and it ensures all the information is captured accurately at the point of contact with the customer.

Paul Stone02:46

Those are just three examples of what insurance companies are using FlowForma for. There are many more, and Robbie will happily take you through those use cases in a one-to-one catch-up.

Robbie Kane03:09

I'll talk a little about the common use cases for automation we're seeing across insurance and implementing for our client base. There's a broad spectrum of areas you can apply FlowForma to. Customer onboarding and new policy applications, where digital signatures and document generation are big features. Policy renewals and reminders.

Robbie Kane03:38

Regulatory compliance is a big one: compliance management, audit preparation and evidence gathering, and regulatory disclosure. Some of FlowForma's out-of-the-box features are particularly appealing in financial services, because we have full audit trail capabilities out of the box. On data residency, we're not a hosted solution: FlowForma integrates with your existing Microsoft architecture and installs directly into your SharePoint environment.

Robbie Kane04:07

There are use cases across approvals, such as underwriting decisions, policy endorsements, grant applications and claims approvals. Across broker and agent interactions, there's broker onboarding, commission approvals, contract generation, and licensing and credential tracking. In claims handling, there's first notice of loss, approval and escalation workflows, and compliance reviews. And in internal operations, there are change controls, internal policy updates and sign-offs, and audit trail creation for compliance.

Robbie Kane04:41

Where we're particularly strong is that full auditability comes with FlowForma out of the box. Because FlowForma integrates seamlessly with SharePoint, you have all your version control touchpoints, and on top of that, FlowForma's native audit trail lets you track everything that's happened across a process. So for the features you'd need across a heavily regulated process, FlowForma ticks all the boxes.

Robbie Kane05:21

Let's talk about the outcomes we typically see with automation. First, faster processing. Automating workflows cuts processing time from days or weeks to hours or minutes, as you saw in Paul's product demonstration.

Robbie Kane05:40

Second, improved accuracy. Standardized processes and practical AI reduce errors and omissions in policy issuance and claims. In the quote comparison use case, AI extracts information from documents, compiles it into a process, streamlines the decision and produces the document at the end. You can apply that kind of standardization, with templates, to practically everything.

Robbie Kane06:12

Third, regulatory compliance. Automated audit trails and permissions help insurers stay compliant effortlessly. Because FlowForma sits centrally within your existing Microsoft 365 environment and integrates seamlessly with SharePoint, audit trails are standard, out-of-the-box functionality.

Robbie Kane06:36

Fourth, reduced operational costs. Less manual work means lower overhead and better resource allocation. When I talk to someone looking at FlowForma for a business challenge, they usually have a fragmented process. It could be claims management handled over email, tracked in Excel, with documents spread across different libraries. There's no visibility, no accountability and no version control. FlowForma removes all that manual tracking, so your staff can focus on their real work instead of chasing documents or wondering which version they're working on.

Robbie Kane07:22

Fifth, greater visibility. Real-time dashboards and reports show process bottlenecks and overall performance. Paul showed you our Insights module, which tracks all the data captured in your process in real time, so you have full visibility and accountability for where everything is at any given time.

Robbie Kane07:41

And sixth, empowered business users. FlowForma is a 100% no-code platform, all about empowering your business teams to create and modify workflows without depending on IT or developers. It speeds up digital transformation and standardizes processes across your organization. With FlowForma's deployment model, you can have many installations across business units and site collections, so everything is built and maintained the same way. You get easier adoption and user buy-in, because your subject matter experts and process administrators have a sense of ownership over their processes.