The Infinity Insurance Team has been updating two of the company’s primary business process flows: New Business and Policy Renewal. New Business is their process for allowing customers to request and receive a new insurance policy. Policy Renewal allows current customers to continue, make changes, or end their current policy. Through multiple on-site visits and collaboration with process line managers, we have been able to accurately continue mapping these processes.
Based on Infinity Insurance’s request, we have been using the TIBCO Business Studio software. Business Studio has not yet been utilized by the MIS program, therefore the learning curve was steeper for our team due to lack of experience with the software. TIBCO allows users to create and compare current processes with potential process flows in order to calculate cost assessments. It also has simulation capabilities that validates processes, identifies bottlenecks, and suggests implementable optimizations. One of the challenges we have faced with this software is being unable to fully take advantage of all its functionalities because we are utilizing the trial version. We will explore opportunities towards acquiring the full version if we determine that its functionalities will be beneficial to the final outcome of the project.
After overcoming a few minor obstacles along the way, our process flows are beginning to take shape. It has been a valuable experience working with Infinity Insurance and the team looks forward to the outcome of this project as we progress closer to its final stage. We are still on schedule to present our final deliverables and recommendations to the stakeholders on April 27.