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The referral system allows rapid and accurate decision-making from interested parties. It is also a means to referral on special acceptances while being a fully auditable and compliant system.
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For underwriters, it will improve communication, people management, workflow and time management.
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Brokers will no longer need to carry large bundles of claims data around to visit underwriters because administrative communication can now be electronic.
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The client will be kept informed at all times, which promotes transparency, openness and fairness. They can check everything that has been done in a certain time frame, and respond accurately and directly to questions and queries rather than going through a broker.
The client will only have to answer most questions once because it will be logged on the system - eliminating the need to answer the same question from different parties. Yellowblox also leaves a full audit trail, which in a post-Spitzer environment and the Financial Services Authority's (FSA) increased interest in compliance, due diligence and transparency, is now a vital part of any company's internal processes.
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