A Leading Life Insurer in India Automates its Underwriting Process with Newgen

Overview

One of India’s premier life insurers collaborated with Newgen to overhaul its onboarding and underwriting process. Faced with escalating operational costs, cumbersome underwriting, and a plethora of other efficiency-draining issues, the company embarked on a mission to redefine its approach to policy issuance and underwriting.

Newgen’s Role in Transformation

A strategic collaboration with Newgen provided the company with robust, AI-driven insurance underwriting process. The New Business and Underwriting solutions led to:

• Significant reduction in application processing time
• Lowered underwriting load due to straight-through-processing of cases
• Control of underwriting process with centralized Business Rule Management System
• Quality check process streamlined from seven screens to one

Why Read This Case Study?

• Understand the critical challenges that were hindering operational efficiency and customer satisfaction
• Explore the cutting-edge insurance underwriting solution implemented for end-to-end automation
• Witness the business benefits that gave the company a competitive advantage