Introduction
Global Specialty Underwriters (GSU) is a US-based MGA,
underwriting across energy, marine, specie, and surety portfolios. Working with
reinsurance partners across multiple territories, GSU needed to establish
systems quickly to operate efficiently and quote, bind, handle claims and
report to capacity providers. The objective was to establish a data-driven,
automated MGA with a platform that could support both their customers and
capacity providers through accurate, validated data and streamlined digital processing.
The Challenge
GSU had no existing policy administration, bordereau management or claims infrastructure in place. They needed a rapid, scalable solution that would allow them to:
- Bind
contracts and manage claims effectively
- Report
accurately to their carriers
- Maintain visibility of exposure and performance across their delegated authority chain
Speed was critical. They needed to be live within weeks to begin operating and demonstrate capability to their partners.
How We Helped
Alchemy worked closely with GSU to define, build, and
deliver the digital foundation of their MGA operations. Within four weeks,
the team implemented Insureflow as GSU’s policy administration and
claims management platform, configured to handle both Open Market
and Claims products.
As part of this implementation, Alchemy also extended
Insureflow’s standard reporting functionality, developing more complex
reports to give GSU enhanced insight into their policy and claims data. These
reports provided improved oversight and helped streamline internal processes.
Alongside this, GSU adopted Fusion, Amarillo
Technologies’ bordereaux data management tool, as part of an end-to-end
solution enabling GSU to provide validated, consistent and accurate data to a
range of capacity providers. Fusion’s DASH reporting suite also enable access
to portfolio-level data to drive improved underwriting decisions.
As a result, Alchemy delivered on GSU’s goal to create a data-driven, automated platform that meets the needs of their customers and partners from day one.
Outcome
In just six weeks, Alchemy delivered a fully functional
digital environment that transformed GSU’s ability to manage their operations,
from policy administration and claims to data reporting and exposure
management.
The implementation:
· Enabled
GSU to process and report on policies and claims within a single ecosystem
- Ensured
validated and accurate data was available to capacity providers and
partners
- Improved
data visibility and collaboration across partners
- Delivered
a flexible setup that supports ongoing scalability and efficiency
Next Steps
With their policy and claims system live and Fusion embedded
in their operations, the next phase focuses on further enhancing the platform
through the integration of automated submission management and finance
functionality.
Alchemy continues to support GSU as they scale their operations and strengthen their digital infrastructure across products, partners, and territories.
Contact Us
Don't miss the opportunity to leverage Alchemy's deep expertise and collaborative approach to drive transformation and growth. Contact us at info@alchemytechs.com to explore how we can support your next project.