Case Study Improve Underwriting Cycle Time Representative engagements

Case Study: Improve Underwriting Cycle Time Representative engagements Business Imperative • Analysis identified rapid underwriting decisions as a key influencer of offer acceptance rates • Implementation of a rules-based underwriting engine had increased application backlog to unacceptable levels • Department required process and organization changes to leverage the new technology and realize promised efficiencies Project Objectives • Identify process efficiencies to reduce underwriting cycle time, increase processing capacity and reduce backlog • Assess organizational alignment and business integration issues not addressed during the technology implementation Deliverable s • Current state process analysis, including process flows, SIPOC analysis, and transaction analytics • Engineered time studies - activity-based cycle time analysis for all primary activities for the end-to-end underwriting process • Process impact analysis of scheduled technology upgrades and additional enhancements Insights • Underwriting department was not being effectively managed owing to lack of business analytics and management’s understated sense of urgency • Activity-based analysis identified low-value tasks assigned to skilled staff, reducing available hours on core Underwriting activities; active technology renewal projects place an additional burden on staff time • Business integration efforts were sub-optimized, resulting in additional investments and effort required to make the technology improvements effective • Identified process reengineering and organization changes to drive a 33% capacity increase, reducing inventory to industry competitive levels • Attadale partnered with client staff to design implementation activities and co-lead initial rollout and implementation ROI • Results are currently meeting analysis and business case estimates, exceeding client expectations • Backlog has been effectively reduced to zero Confidential 2010 March 11, 2010 © Attadale Partners. 1