A complete premium financing workflow, developed through regulatory workshops, prototypes and testing, with compliance assurance before handover.
- From workshops to delivery
- 12 weeks
- Typical build timeline
- 9-12 months
- Premium financing automated
- End to end
The challenge
Premium financing brings insurance operations and regulatory requirements into the same workflow. Tokio Marine needed to remove manual work while keeping the process aligned with changing rules.
A build of this kind typically takes nine to twelve months. The engagement needed to cover both the operational workflow and regulatory assurance within a much shorter delivery window.
What we built
Parallel Loop worked through four connected stages, from understanding the rules to assuring the finished workflow.
- Ran workshops to understand regulatory changes and design around their requirements.
- Built prototype workflows to test the approach early.
- Developed and tested the selected workflow as a working process.
- Completed regulatory compliance assurance before delivery.
The impact
Tokio Marine now runs a fully automated premium financing workflow. Delivery took twelve weeks, from the first workshops through to the completed process.
- Premium financing automated from end to end.
- Delivered in twelve weeks, compared with a typical nine to twelve months.
- Regulatory compliance assured as part of delivery, before handover.