Co-Buyer: US General Counsel
Service Area: United States
Team Size: 15 People
Team Contract Volume: 5K per annum
Insurance company has 2K active agent agreements, which result in having to track 31K key attributes, such as dates, parties and obligations. The company operates in 11 different geographies, totaling 90 separate jurisdictions.
Key Challenges & Results
Continued business growth causes bottlenecks in Legal. Unexercised performance rights result in lost sales and agent attrition. Renewal fees and negotiated savings are unrealized. Unchecked regulatory changes increase outside counsel spend. Non-compliant sales contracts increase risk exposure, creating delays that produce deal fatigue. All resulting in 7% revenue loss in-year.
Using Zeal, Insurance company enables business leaders to distribute and negotiate contracts independently, removing the legal team bottleneck. Key contract attributes are tracked autonomously, ending missed commitments while achieving 100% compliance. Outside counsel spend is reduced. Revenue is recaptured.