Before I try to explain how workflow automation will save you, as an insurance broker, both time and money, it is probably best to define a workflow.
What is a workflow?
A workflow is a standardized business process that consists of sequential interdependent steps that may involve more than one person and may extend over a period of time.
Here is a more specific, albeit simplified, example:
As an insurance broker, you are very familiar with the annual renewal conversations that you have with each of your clients for each of their policies.
Let’s consider just the work that you will do for one particular client’s renewal this year. To keep it simple, let us assume that for this example we are working in a community rated market.
From a very high level, there are a few basic things that will need to be accomplished to successfully renew this group.
** Note how each task is dependent on the previous ones in that they cannot be successfully completed without the completion of the previous tasks.
What is workflow automation?
Workflow automation is a pre-defined structured process where tasks representing the work required for each of the standardized steps in a process are automatically created and assigned to the right person at the right time based on business logic.