New Business - Accelerated New Business Acquisition

INSURANCE

Accelerated New Business Acquisition

Accomplish faster “Prospect-to-Customer” lifecycle with accelerated new business acquisition across channels through end-to-end automation.

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Our New Business Solution automates your complete policy issuance cycle. It improves and accelerates your new business intake, while providing assistance for risk management and multi-channel initiation. Using this solution, you can ensure end-to-end automation of your new business process lifecycle, right from pre-proposal, proposal evaluation up to policy issuance. Further, it auto routes digitized applications based on dynamic business rules for shorter “Prospect to Customer” life cycle. Using its rules engine, you can enforce underwriting best practices for automated probability analysis and policy issuance. You can also ensure sequential processing for normal cases and parallel processing for priority cases.

Brochure: Newgen's Solution for New Business Automation

Leverage a state-of-the-art agile BPM framework for quick on-boarding of insurance customers

Process Management
Dynamic business process management based on defined characteristics and process exceptions

Core Underwriting Engine
Dynamic rules facilitate straight-through processing of low complexity submissions & automate key underwriting tasks

Efficient Data Capture
Configurable user interface to define data elements as per specific requirement

Standard Integration Architecture
Seamless integration with third party and legacy applications such as Policy Admin System, CRM system, etc.

Communication Platform
System based triggering of text & mails at relevant business stages

Customer Service & Support
An integrated customer support module for real-time tracking of application status

Mobility Support
Mobile based initiation platform which will help on-field agents to issue policies ‘on-the-move’

Dashboards
Sophisticated data analysis which go far beyond canned standard reports

  • Compliance to regulations through multi-level escalations, triggering alerts and reminders
  • Reduced process turnaround time due to auto allocation of work items
  • Reduced document handling and file transfer costs with digitization
  • Transparent communication to customers through web and mobile
  • Effective key process indicators (KPIs) establishment to measure and ensure desired improvements
  • Enhanced process improvement opportunities through real-time process collaboration
  • Comprehensive multi-level escalations, alerts and reminders ensure data compliance as per ACORD 103 standards

REINVENT INSURANCE

Exclusive Interview with Oliwia Berdak on Digital Disruption in Insurance

In this exclusive interview, Oliwia Berdak, Senior Analyst, Forrester Inc., discusses areas of disruption in Insurance.

REINVENT INSURANCE

New Business - Leading Insurance Company in Cyprus Automates Key Insurance Processes

Leading Insurance Company in Cyprus Automates Key Insurance Processes

Automation of Claims, Assessment and Renewal Notice Processes for a leading Insurance company in Cyprus.