We are making significant progress in our application processing efforts as we transition to a new underwriting and case management workflow. Click here for the official Genworth Bulletin on this.
We are focused on three primary fronts:
1. Improving the workflow. We have made significant improvement in this area since April 15, and cases are moving through at a much faster rate than the older inventory. We continue to introduce periodic process changes and system fixes that improve workflow efficiency.
2. Clearing up aged inventory. There are 1,700 cases remaining in this category (from April 11 to current), which consists of duplicates, deleted cases that need to be reinstated or merged with existing cases, and older cases that have simply gotten stuck and need to be pushed through. We have a dedicated team reviewing these cases; they have made significant progress, but their work is time-consuming as each case requires individual research. We expect the vast majority of their current focus to be finished by mid-June.
3. Making cases viewable earlier on Pro and Digital Office.
• Old underwriting cases (Privileged Choice® Flex pre-April 13). We have implemented a new capability of moving cases subject to the former underwriting process directly into our administrative system so that they are viewable on Pro and Digital Office within three days of receipt.
• Not in good order (NIGO) cases. The new workflow checks application packages to determine whether required information has been received. NIGO cases, e.g., cases with missing/incorrect forms, incorrect/omitted agent information, missing signatures, are held until the required information is received. As a result, they take longer to get to screening and viewable on Pro and Digital Office. We are working to make these cases viewable sooner, and expect to complete that work by mid-June.
What You Should Expect
• For NIGO applications that require information to be corrected or validated, you may see a significant delay from submit date until the application appears on Pro or Digital Office. Again, we expect to reduce that delay significantly by mid-June.
• For all applications received after April 11, we are extending the period after which we will require a new application from 120 days to 150 days. We intend to honor the terms of the Conditional Insurance Agreement (CIA) for any applications we received with money and with CIA indicated as “yes.”
─ Money (checks) is credited or EFT or credit cards are processed for initial payments when the application is viewable on Pro and Digital Office.
• Currently, our processing time is 45 days, but we expect it to increase to between 60 and 70 days on the median by mid-June as we clear through the aged inventory. Once that is done, we expect cycle time to start decreasing and settle at 35-40 days by the end of July. Applications submitted after April 29 are moving much faster.
• While call volumes and the number of phone representatives have remained steady, the average call time is up from four minutes to 12 minutes, resulting in average wait times in excess of 35 minutes.
What We Ask from You
To the extent possible, we respectfully ask that you limit your status request calls – it will help us improve our overall phone service. If you are calling because you cannot see an application on Pro or Digital Office, please be assured that we are receiving and imaging all applications that are sent in, and we expect all applications to be viewable within the next three weeks.
Attached are two communications:
• 156438BGA can be sent to your producers to provide them with more information.
• 156438 is suitable for use with consumers.
Thank you for your business. We are working diligently to return to our normal service levels.