AIG United Guaranty Increases Efficiency and Process Competitiveness with Global 360
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Case360 enables enhanced underwriting process for leading national insurance provider
DALLAS, July 23 / / -- Global 360, a leading provider of business process management (BPM) and optimization solutions, today announced AIG United Guaranty, a subsidiary of American International Group, Inc. (AIG) and a leader in insurance products and solutions, has implemented Global 360's Case360 product to cost effectively manage the company's 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 solution that would reduce the organization's 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. 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 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. The new system has allowed for a more virtual workforce that regularly processes twice the previous amount of loans.
In addition to creating this new system, AIG United Guaranty has leveraged the benefits of Case360 for analyzing process data. The BPM capabilities within Case360 give them the tools to gain a greater understanding of application processing statistics that provide insight into how their processes are modeled and ways to continue increasing efficiency across the organization.
"One of the primary issues facing the insurance industry today is the sheer volume of files, contrasted with the speed in which they need to be processed," said Michael Crosno, president and CEO of Global 360. "These concerns may contribute to a host of regulatory and compliance issues, a backlog of work, an overworked employee base and dissatisfied customers. Case360 creates a single, virtual access point, empowering smart organizations like AIG United Guaranty to leverage their competitiveness, improve customer satisfaction and ensure longevity in the marketplace."
About AIG United Guaranty
United Guaranty Corporation (AIG United Guaranty) and its subsidiaries are member companies of American International Group, Inc. (AIG). The company has been headquartered in Greensboro, North Carolina, since it was established in 1963.
Subsidiaries of AIG United Guaranty provide a comprehensive range of financial products and services to lenders and investors, including mortgage guaranty insurance for first and second mortgages, and private education loan default insurance. AIG United Guaranty's international locations include offices in 18 countries.
About Global 360
Global 360, Inc. is a leading provider of Business Process Management and Optimization solutions for Global 2000 organizations. With over two decades of experience, Global 360 provides organizations with a competitive edge by automating, measuring and improving resource-intensive business processes across different communities, including customers, employees and partners. Building on our strength in financial services, government and insurance, Global 360 empowers sites for more than 2,000 customers in 134 countries. Global 360, Inc. is headquartered in Texas with operations in North America, Europe, and the Pacific Rim. For more information about Global 360's BPM solutions, please call 1-214-520-1660 or visit the company web site at www.global360.com/.
Source: Global 360, Inc.
CONTACT: Colleen Nichols of Global 360, Inc., +1-510-263-4822, colleen.nichols@Global360.com
Web site: http://www.global360.com/
