Automate the Insurance Value Chain with AI-led Solutions

Newgen’s AI-first comprehensive insurance solutions enable insurers to achieve faster time-to-market, improve accuracy and compliance, and deliver a unified omnichannel experience across life, health, and general insurance, to ensure superior customer engagement.

Policyholders today expect fast, seamless, and personalized insurance experiences that can be accessed anytime, anywhere. Newgen’s AI-first, low-code platform and purpose-built insurance accelerators help insurers deliver personalized, seamless customer journeys.

Newgen’s AI-first low-code platform, tightly integrated with advanced AI/ML, helps digitize insurance operations through end-to-end automation and centralization of processes, including policy underwriting, policy servicing, and claims processing.

Newgen’s Intelligent Underwriting Solution enables simplified and secure case assessment by analyzing incoming applications and automatically highlighting areas of concern to increase underwriter productivity and accuracy.

Newgen’s Intelligent Underwriting Solution can expedite the quotation process with auto-classification of proposals as straight-through or near straight-through and verification and validation features, including duplicity checks, anti-money laundering, fraud detection, and blacklisting.

This helps achieve faster issuance, reduce operational cost, enhance customer service, and minimize data entry, while maintaining compliance.

The Underwriting Assistant AI Agent helps assess risk by analyzing historical data, risk profiles, and benchmarks using the Risk Prediction model. The model streamlines processing, determines policies needing review, and enables data-driven decisions on terms, pricing, and risk exposure reduction.

Yes, Newgen’s Early Claim Probability AI Agent leverages our purpose-built AI Agent to automate life insurance underwriting with predictive mortality risk scoring, intelligent routing, explainable AI, and reasoning-led decisioning. It also helps predict five-year mortality likelihood using test results and health history.

Newgen’s Claims Management Solution streamlines the entire claim lifecycle, from first notice of loss (FNOL) to settlement, recovery, and closure. It boosts efficiency and reduces fraud by automating manual processes.

Newgen’s Claims Management Solution uses the Fraud Pattern Analysis Model for Claims to analyze claim-filing behavior, historical discrepancies, and external red-flag signals (e.g., duplicate beneficiaries, sudden policy upgrades before death) to detect potential fraud.

Additionally, an Intelligent Fraud Detection & Prevention Model identifies fraudulent claims by analyzing claim frequency, repair shop history, and geospatial anomalies.

Yes, the Auto-adjudication of Low-risk Claims model uses natural language processing (NLP) and business rule engines to instantly approve low-risk claims, such as daycare procedures or minor hospitalization events, based on treatment codes and past claim history.

The Property Damage Assessment Model leverages AI and geo-spatial data to assess property damage post-disaster, automating claim categorization, repair cost estimation, and surveyor dispatch.

Newgen’s Policy Servicing Solution automates the entire customer service request lifecycle. It opens up new channels for registering customer queries and ensures faster responses.

The Churn Risk Prediction & Retention Enablement feature of the AI Agent for Policy Servicing proactively identifies policyholders with a probability of lapse using AI models trained on policy, payment, and health data, empowering insurers to trigger timely retention campaigns and boost renewal rates.

Newgen’s Bancassurance Solution eliminates switching between applications to generate different quotations, proposals, policies, etc.. Bankers can access policies from multiple insurance partners/organizations on a single login window.