Bright Grey scoops Innovation Award
Edinburgh-based insurance provider Bright Grey has enjoyed success at the National Business Awards for Scotland, winning the Innovation of the Year Award.
Bright Grey achieved its award due to its Expert Underwriting service, which is supported by FST Technologies.
Time is a crucial factor in the financial services world, and Bright Grey recognised the traditional underwriting process as being in need of speeding up with protection cover, for example, taking weeks to go through.
In order to grant Independent Financial Advisers (IFAs) more control over the process, the firm created EUW (Expert Underwriting).
EUW is delivered online and enhanced with a comprehensive database facility covering risk factors, qualification questions and rules which can deliver instant insurance application judgements.
However, the formulation of such an approach required a bespoke system, and so Bright Grey chose FST to build a new PED (Print Event Dispatcher) platform that would control the document flow used in the process.
FST designed new document templates specifically for the EUW which improve turn around time and increase flexibility.
Bright Grey has enjoyed reduced costs and application servicing as a result of its innovative approach coupled with increased product sales.
Category: Insurance News
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