State filings made fast and easy
Increase revenue and decrease operational cost through speed to market


Diversified insurance company with a strong U.S. presence

Business case

State filing process was not streamlined and lack of end-to-end project man- agement discipline was making it com- plex, long-drawn out and error prone, impacting speed to market


Commercial lines specialty business (property and casualty)

The situation

Product Development faced problems launching products in the market in a timely manner. Through- out the filing process, state Departments of Insurance (DOI) found repeat objections, forcing additional work and delays. These operational inefficiencies slowed their ability to bring new products to the market, and led to downstream re-work costs.

The Solution

By deploying its proprietary Research Extract Assess Develop (READ) methodology, EXL created a data-driven project timeline metric tool that:

  • Estimated project timelines based on key complexity parameters
  • Enabled planning and prioritization of state filings
  • Analyzed trends based on historical objections and repeat errors to minimize objections
  • Introduced predictability and dynamic resource allocation
  • Enabled quality assurance and checks on each phase of the product development project life cycle


  • $2million Estimated additional revenue from speed to market
  • Reduction in repeat objections 40%
  • 1,200 Reduced rework hours
  • Reduced IT rework costs, resulting in millions of dollars of savings

Research, Extract, Assess, Develop (READ)


EXL deployed READ to develop an end-to-end operational planning and project management framework that aims to streamline the product development process by:

  • Reviewing, analyzing and controlling state filing objections, response and benchmarking internal practices
  • Enhancing predictability for accurate forecasts leading to reduced IT rework and optimum re- source utilization


  • Finalized variable selection and data collection plan
  • Aligned with business on complexity criteria to classify state line of business combinations as low, medium and high


  • Worked with IT to obtain master data file


  • Normalized complexity level and estimated ap- proval time for each cluster


  • Customized project timeline tool
  • Handover documents


  • Estimated $2 million additional revenue through speed to market
  • Reduction in repeat objections resulting in improved credibility with state DOIs
  • Estimated net reduction of approximately 1200 re-work hours across product managers and actuary
  • Estimated reduction in IT rework costs by approximately $2 million

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