Insurance Underwriting Solutions Built on NewgenONE Platform
NewgenONE AI Agents for Insurance
Powering Underwriting with Intelligent Insights
Accelerate onboarding, automate underwriting, and ensure fast, accurate claims—while reducing fraud and staying compliant.
Features of Newgen Insurance Underwriting Software
Core Underwriting Engine
- Dynamic rules to facilitate straight-through processing of low complexity submissions and automate key underwriting tasks
- Abstract underwriting rules and complex logic are configured into the system
- Flexibility to change rules according to dynamic business requirements
Underwriting Evaluation
- Automatic policy evaluation to maximize the percentage of straight-through pass cases for quick policy issuance
- Auto-classification of non-straight-through cases and routing of cases to underwriters based on the authority limit
Additional Information Capture
- Access to comprehensive case details to ensure informed decision-making
- Request capabilities for additional documents and information, based on medical or non-medical parameters
Integration and Personalization Capabilities
- Seamless integration with third-party and legacy applications, such as policy administration, CRM, etc.
- Omnichannel, personalized and real-time engagement across all channels, including mobile, web portal, in-person, social channels, and bots
Core Underwriting Engine
- Dynamic rules to facilitate straight-through processing of low complexity submissions and automate key underwriting tasks
- Abstract underwriting rules and complex logic are configured into the system
- Flexibility to change rules according to dynamic business requirements
Underwriting Evaluation
- Automatic policy evaluation to maximize the percentage of straight-through pass cases for quick policy issuance
- Auto-classification of non-straight-through cases and routing of cases to underwriters based on the authority limit
Additional Information Capture
- Access to comprehensive case details to ensure informed decision-making
- Request capabilities for additional documents and information, based on medical or non-medical parameters
Integration and Personalization Capabilities
- Seamless integration with third-party and legacy applications, such as policy administration, CRM, etc.
- Omnichannel, personalized and real-time engagement across all channels, including mobile, web portal, in-person, social channels, and bots
Cracking the Code for AI-Powered Underwriting: Unified Workbench
Discover how AI revolutionizes underwriting by enabling faster, more accurate decisions through risk-based submission prioritization. With end-to-end automation, real-time data integration, and built-in regulatory compliance, the platform streamlines processes, enhances risk assessment, and reduces errors.
Features of an Underwriting Workbench
Automate Communication
Raise additional document/information requests or generate counter offers with system-triggered personalized communications to customers. Manage communications with various stakeholders with template-based policy issuance.
Configurable Rule-engine
Provide adaptable definitions of rule applicability, priority, and expiry. The rule engine supports straight-through processing and controlled access to data.
AI/ML Capability
Ensure better underwriting decisions and improved risk management with AI/ML models. Speed up response time to customers and reduce excess operation costs.
Intelligent Analytics and Insights
Utilize analytics across the value chain to reduce high-cost cases and enable interactive and customized underwriting. Optimize fraud detection in insurance with predictive analytics for effective risk profiling.
Success Stories
Ready to Transform Your Underwriting?
A Risk Prediction Model that leverages historical data, risk profiles, and industry benchmarks to assess exposure accurately. It detects anomalies, uncovers policy gaps, and helps prioritize high-impact underwriting decisions.
Non-journey Use Cases for Insurance
Lead with an Industry-recognized Platform
Frequently Asked Questions
Q. What is underwriting software in insurance?
Underwriting is a core process for every insurance organization required to evaluate the risk factors associated with insurance applications. The underwriting software in insurance is a solution that enables users to automate critical underwriting tasks, assess risks associated, and manage the end-to-end policy lifecycle.
Q. Can insurance underwriting be automated?
Yes. Automation of end-to-end underwriting processes enables insurers to reduce errors, minimize delays and make informed business decisions. By handling repetitive tasks, it frees the bandwidth for underwriters so that they can focus on better compliance adherence, and formulating better policy clauses.
