It provides a clear vision on what steps, decisions or activities involved in a process need to be improved. A business process workflow diagram can be in help when there is a need to improve the business process. Business process workflow diagram should show how various process participants interact with each other to accomplish business tasks and how the corresponding information flows through the business process stages. Making a business process workflow diagram is a visual way for business process analysis. Statistical analysis that supports the assessment of the level of risk and pricing rates, which maintain premium adequacy, is urgently needed for further observation.Any business process consists of a set of activities and tasks intended to accomplish a particular business objective. Business process transformation was carried out by completing underwriting parameters, eliminating waste and non-value-added activities, increasing risk analysis activities that provide business value to the acceptance (underwriting) process, improving data management by optimizing administration as a data bank agent, and applying pricing rates to maintain tariff wars and premium adequacy.
A rating method was used to determine the weight of underwriting parameters. Business process analysis was completed using root-cause analysis, value-added analysis, and waste analysis.
Business processes are described using the Business Process Model and Notation (BPMN). The Delphi survey method was carried out with seven experts, who were chosen through purposive sampling, to support data collection. This study uses qualitative methods for business process analysis. The aim of this study is to analyze the current business process of H&M insurance, identify the problems that caused the ineffectiveness of the business process, evaluate underwriting parameters, and propose a new business process. Hull and Machinery (H&M) insurance industry suffered low profitability, which impacted the sustainability of the insurance industry.
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