eBook
Why Newgen for Insurance?
10 reasons you should partner with us to achieve operational excellence in insurance
Building Resilience and Agility in a Fast-Changing Insurance Landscape
The insurance industry is evolving rapidly, driven by customer expectations, regulatory complexity, and market disruptions. To stay competitive and resilient, insurers must digitally transform core processes from customer onboarding and underwriting to policy servicing and claims management.
This eBook shares 10 compelling reasons why partnering with Newgen can help insurers modernize, scale, and stay future-ready. Built on a robust low-code digital automation platform, Newgen’s insurance-specific solutions combine deep domain expertise with cutting-edge technology to help you achieve operational excellence, deliver better customer experiences, and drive sustainable growth.
10 Reasons to Choose Newgen for Insurance
1. Ensure Business Continuity
Newgen’s platform integrates RPA, mobility, analytics, and social sensing to help insurers adapt quickly to disruption, maintain operational efficiency, and deliver services without interruption. These capabilities reduce policy issuance delays, enhance service levels, and keep costs under control.
“Newgen helped us move from traditional processes to digital processes and meet our service-level agreements.”
Sr. Manager, IT, Family Health Plan Insurance TPA Limited
2. Faster Policy Issuance
Deliver quotes and issue policies faster across life, health, and general insurance with multi-channel initiation, smart rule engines, and flexible workflows. Reduce customer wait time and improve acquisition rates.
Case Example:
A Cyprus-based insurer used Newgen’s policy servicing solution to digitize data capture and workflows, resulting in:
- Increased application volumes
- Reduced customer response time
- Higher productivity and cost savings
3. Intelligent Underwriting
Automated underwriting with rule-driven engines eliminates manual effort for simple proposals and provides risk scores and decision summaries for complex cases. Quickly adapt rules for regulatory or market changes to ensure agility and compliance.
“Life insurers are implementing automated underwriting platforms to deliver better, faster customer experiences and improve cost efficiency.” Forrester
4. Data-Driven Decision Making With Machine Learning
Leverage machine learning (ML) to analyze historical data and predict risk probabilities. ML models identify patterns affecting pricing, fraud, and product design, empowering underwriters and product teams with actionable insights.
5. Streamlined Claims Lifecycle
Automate and track claims from registration to settlement with full transparency and compliance. Customers can file claims in real time and monitor progress through digital channels, reducing frustration and improving satisfaction.
6. Maximize Existing IT Investments
Newgen solutions integrate seamlessly with core systems and support cloud, SaaS, and on-premise models. Use your existing IT landscape while enhancing agility, speed, and scalability without major overhauls.
“Newgen’s OmniFlow, OmniDocs, and OmniScan helped us meet millennial customer expectations and achieve transformation goals.” IT Manager, IDBI Federal Life Insurance Co. Ltd
7. Process Complex Service Requests Effortlessly
Digitize and manage diverse customer service requests from non-financial endorsements (address, nominee, name changes) to financial ones (sum enhancement, benefit additions, term alterations). Offer multi-channel initiation and real-time tracking for better transparency.
8. Empower Employees With Automation
Straight-through processing (STP) reduces manual workload, letting employees focus on customer interaction, analysis, and revenue opportunities. A digital workplace also drives productivity and improves employee experience.
9. Faster Go-Live and Scalability
With global implementation experience, Newgen delivers ready-to-deploy insurance solutions tailored to your challenges. Prebuilt frameworks ensure quicker rollouts for new products and services, accelerating time-to-value.
10. Built-In Security and Compliance
Stay ahead of regulatory changes and evolving cybersecurity threats. Newgen provides enterprise-grade security, data integrity, and compliance frameworks, enabling insurers to protect sensitive data while staying audit-ready.
Technology That Drives Insurance Transformation
Newgen’s platform combines:
- AI & Machine Learning smarter decisions and predictive insights.
- Blockchain secure, auditable transactions.
- Robotic Process Automation (RPA) faster operations and reduced errors.
- APIs & Microservices agile integration with legacy and third-party systems.
- Low-Code Development rapid application deployment and flexibility.
- Cloud & Hybrid Deployments scale and innovate with confidence.
Real Impact Delivered
Insurers using Newgen’s solutions have reported:
- Up to 70% faster policy issuance
- 40–60% improvement in claims processing efficiency
- Significant cost optimization through automation and system integration
- Improved compliance and audit readiness with digital-first processes
- Stronger customer retention and loyalty due to faster, frictionless experiences
Future-Ready Insurance With Newgen
With proven expertise across life, health, and general insurance, Newgen helps carriers redefine how they engage customers, manage risk, and innovate. From automating underwriting and claims to digitizing service requests and policy administration, our solutions provide a resilient digital foundation for growth.
