Two men and a woman in business clothes sitting at a desk looking at a tablet.

Admiral Yacht Insurance improves company performance through automation

Staff at Admiral Yacht Insurance previously spent too much time on administrative, duplicative tasks, taking their focus away from servicing customers. Management chose Applied TAM to automate the entire business. Staff now experiences more operational efficiency, ultimately increasing staff productivity.

"We’ve reassigned staff from business support to revenue generating underwriting roles after upgrading Applied TAM. Not only have we improved our operations, we’ve increased our bottom line."

Robert Holbrook

Managing Director

Admiral Yacht Insurance

Challenge

Admiral Yacht Insurance wanted to streamline data management and reporting processes, allowing staff to focus on growing the customer base. “At the time, we were rekeying information and conducting duplicative tasks, which lowered staff efficiency,” said Robert Holbrook, managing director, Admiral Yacht Insurance. “Without access to certain types of data, reporting had become increasingly manual, requiring our staff to spend weeks pulling information from multiple sources.” The broker required a management system to automate and standardise business operations, whilst also providing powerful reporting capabilities in a single application.

Solution

Management at Admiral Yacht Insurance decided to launch Applied TAM, the world’s most widely used cloud-based broker management system, to manage their entire business. Applied TAM automates daily operational processes, management of client policy information and connectivity with insurers. Staff can now focus additional time on servicing clients and securing new business.

Result

Since upgrading to Applied TAM, Admiral Yacht Insurance has eliminated redundancy and automated repetitive data entry processes, increasing staff productivity. Applied TAM enables management and staff to access information more quickly and efficiently. Production of loss ratio reports has been one of the greatest productivity gains, reducing processes that used to take weeks to just a matter of seconds. “Production of loss ratios used to take upwards of 100 steps spread over several weeks due to the manual nature of the task,” said Holbrook. “It now takes 10 seconds.”

With Applied TAM SQL Reporting, Admiral Yacht Insurance can more easily review and confirm the integrity of its data, reducing errors and omissions. With better data insight, Admiral Yacht Insurance makes more informed business decisions, improving company performance. The ability to complete actions and reporting in a couple clicks of the button has been instrumental in improving business operations. “We’ve reassigned staff from business support to revenue generating underwriting roles after upgrading Applied TAM,” said Holbrook. “Not only have we improved our operations, we’ve increased our bottom line.” With Applied, Admiral Yacht Insurance collectively utilises technology to more efficiently manage the business, improving employee productivity and ultimately morale by providing solutions that automate basic tasks.

Admiral Yacht Insurance

Admiral Yacht Insurance specialises in insuring mid-range sailing and motor yachts based in UK and Northern European waters, the Mediterranean, Caribbean and South East Asia. Underwritten by Lloyd’s, the company provides insurance products for cruising sailors and rally participants, delivering the highest standards of personal service demanded by its discerning clients.

Company Snapshot

Headquarters: Salisbury, Wiltshire
Founded in 1991

Software Leveraged

Applied TAM