In an insurance brokerage, the pricing It is an essential task, but it can also be very time-consuming when it requires consulting information, entering data, comparing alternatives, and manually reviewing each policy.
What would happen if much of this process could be automated?
In Téciman Digital We have developed an automation solution for a car, home and life insurance brokerage that allows Save up to 80% of the time spent on each billingadapting to the company's criteria and way of working.
The goal is not to replace the professional, but to eliminate repetitive tasks so they can focus on what truly adds value: analyze the information and make decisions.
What does automatic insurance pricing consist of?
The automatic pricing It involves using technology to collect, process, and compare information needed to calculate or revise the price of a policy, minimizing manual intervention.
In a brokerage, this process can involve numerous tasks:
- Review policies that are about to expire.
- Collect the necessary data for its renewal.
- Explore different market options.
- Compare prices and conditions.
- Analyze whether the renewal is appropriate.
- Prepare the information for the commercial.
- Record the data in the internal systems.
- Communicate to the team the actions that require attention.
When these tasks are performed one by one, the time spent on each pricing can increase considerably.
Automation allows this process to become a much more agile and structured workflow.
How does pricing automation work?
The solution developed by Téciman Digital works following the criteria defined by the brokerage itself.
Each day, the system automatically identifies the policies that They expire within the next 40 daysFrom there, the analysis process begins, and the necessary information is prepared so that the team can review each case.
The automated workflow allows:
1. Automatically detect policies that are about to expire
The system identifies policies that meet the established criteria, preventing the team from having to manually check expiration dates.
In this way, the brokerage can anticipate renewals and work with a more organized view of opportunities and pending tasks.
2. Analyze renewals following the brokerage's criteria
Not all companies operate in the same way. Therefore, effective automation must be tailored to the criteria defined by each organization.
In this case, the solution analyzes the information from the selected policies and applies the rules established by the brokerage to determine how each review should be performed.
3. Automatically compare market options
One of the most time-consuming tasks during a pricing process is comparing alternatives.
Automation collects and organizes information to facilitate comparison of renewal prices with the different options available on the market.
Thus, the professional receives the information prepared so that he can assess it without having to manually perform the entire previous process.
4. The salesperson receives the key information
Once the analysis has been carried out, The salesperson receives an image with the relevant information for each case..
This completely changes the way we work.
Instead of spending time gathering data, performing checks, and preparing information, the professional can focus directly on reviewing it and making the corresponding decision:
Keep the policy or look for an alternative?
The decision remains with the professional. Technology takes care of the repetitive tasks behind the scenes.
From hours of manual labor to an automated process
One of the main benefits of this solution is the reduction of the time spent on each pricing.
In the case developed by Téciman Digital, automation allows save up to 80% of the time spent on each billing process.
This can have a significant impact when a brokerage manages a high volume of policies.
Reducing the time of each operation allows the team to:
- Manage more renewals with the same resources.
- Reduce repetitive administrative tasks.
- Having information ready for decision-making.
- Minimize manual data entry.
- Streamline internal communication.
- Dedicate more time to customer service and advice.
Automation isn't just about doing a task faster. It also allows change the way work is organized.
Automation tailored to each company
One of the common mistakes when talking about automation is thinking that all companies need to use exactly the same solution.
At Téciman Digital we work differently.
Every company has its own processes, criteria, systems, and needs. That's why, before automating, it's necessary to understand them. how the team actually works.
In this project, the solution was developed and installed in just two weeksadapting to the operation and criteria defined by the client.
The result is automation integrated into the day-to-day operations of the brokerage, instead of a system that forces the team to completely change the way they work.
What other administrative tasks can be automated?
Pricing is just one example of the possibilities offered by process automation.
In Téciman Digital We develop solutions tailored to each organization to reduce the time spent on repetitive administrative tasks.
Among other possibilities, we can automate:
- Automatic document submission.
- Communication and notifications to agents.
- Automatic recording of information in the systems.
- Data collection and processing.
- Information classification.
- Report generation.
- Process monitoring.
- Notices and reminders.
- Transfer of information between different applications.
The goal is to identify those points in the process where the team spends time on repetitive tasks and analyze whether they can be automated.
Automating doesn't mean losing control
One of the common concerns when a company considers automating processes is whether technology can end up making decisions that should be made by a person.
The automation of pricing It can be argued in precisely the opposite way.
The system collects information, executes rules, performs checks, and prepares the results. The professional receives the structured information and maintains control over the final decision.
In this way, two elements are combined:
The speed and processing capacity of automation + the professional's judgment and experience.
This combination allows for the creation of more efficient processes without losing human supervision.
How much time can automation save?
The savings depend on each process, the volume of operations, and the degree of manual intervention.
Therefore, before discussing a specific figure, it is important to analyze how the task is currently being performed.
In the case of this brokerage, the solution developed by Téciman Digital allows Save up to 80% of the time spent on each billing.
Furthermore, in general terms, our automation solutions can reach Reduce the management time of certain administrative tasks by up to 70%, always depending on the process and its characteristics.
The first step is to identify where the manual work actually is and which parts can be automated.
Case study: Pricing automation in an insurance brokerage
This project demonstrates that automation does not have to be a long or complex process.
In just two weeksTéciman Digital developed and installed a solution capable of identifying policies that are about to expire, analyzing their renewal, comparing different options, and providing the salesperson with the key information to make a decision.
The result is a process of more agile, structured pricing adapted to the brokerage's way of working.
You can learn how the solution works in this case study:
Does your company spend too much time on administrative tasks?
Automation can be applied to many processes that, at first glance, seem too specific or complex to automate.
The key is to first analyze the process and then design a solution tailored to its specific characteristics.
In Téciman Digital We analyze how each team works and develop customized automations to reduce repetitive tasks, improve management times, and facilitate daily work.
If your company spends too much time on pricingWhether it's data entry, document submission, process tracking, or any other repetitive administrative task, we can analyze your case.
Tell us how you work and we'll study which part of the process can be automated.For more information call us at 947 20 91 41 or send us an email to teciman@teciman.com. Follow us on LinkedIn to find out all the news.