THE CHALLENGE

TD Insurance (TDI) faced a common industry hurdle: balancing evolving regulatory requirements with operational efficiency. The need to send hundreds of thousands of additional interest letters to third parties via traditional mail was proving costly, time-consuming and increases paper usage. Beyond the high costs and resource intensiveness, this approach also created inefficiencies that hindered TDI's ability to maintain compliance and auditability seamlessly. Recognizing the need for modernization, TDI partnered with Symcor to reimagine these processes and achieve secure, compliant and efficient communication.

OUR APPROACH

TDI partnered with Symcor’s Advisory and Solution Consulting arm, COR.PRO. Symcor has a long history of driving operational excellence and compliance in highly regulated industries. COR.PRO collaborated with TDI to design a tailored, scalable solution that addressed the organization’s unique pain points and aligned with its strategic goals.

1. Collaborative Strategy Workshops

COR.PRO initiated the project by conducting in-depth workshops to map out TDI’s operational and regulatory challenges. This step allowed both teams to co-create innovative solutions that enhanced compliance and efficiency.

2. Customized Business Architecture

Symcor developed a robust business architecture to streamline communication workflows, ensuring optimized outcomes while keeping scalability at the forefront of the solution.

3. Launching Policy Assist Central

A key outcome of this collaboration was the accelerated development of Policy Assist Central, part of Symcor's COR.CCX suite of communication management solutions. This centralized digital platform enables seamless, secure, and efficient transmission of regulatory communications from insurers to lenders. With built-in tools for tracking, reporting, and document retrieval, Policy Assist Central enhances transparency, compliance, and operational ease.

KEY OUTCOMES

TDI achieved great results through its partnership with COR.PRO, setting a new standard for digital transformation in the insurance sector.

• Estimated to reduce the significant costs of regular mailing of additional interest letters for all third parties onboarded to the Policy Assist Central portal.
• Successfully processed 220,000 additional interest letters, meeting regulatory requirements with timeliness.
• Eliminated the need for 460,000 printed pages, simplifying workflows and minimizing operational complexities.