NewgenONE Platform for
Modern Policy Administration for Health Insurance
Streamline and centralize health insurance business functions with a low code platform.
Digitize and automate the entire health insurance customer journey across business functions, including customer/partner onboarding, underwriting, policy administration, and claims processing. The digital core system built on Newgen’s low code framework enables faster pre-authorization and approvals, efficient medical scrutiny, streamlined billing & finance, and improved claim processing. The configurability and flexibility of the solution ensures compliance with regulatory guidelines, operational efficiency, and faster time-to-market.
Features of Modern Policy Administration Solution for Health Insurance
Product and Plan Definition
Seamlessly set up product plans in the system through the master data management module. Configure product parameters, including plan details, premium frequency, refund logic, and cover mapping. Utilize maker/checker capability with an audit trail to ensure accuracy and accountability. Simplify the data entry process with bulk data upload.
Policy Management
Achieve a comprehensive view of policy along with financial, claim, and servicing details and apply policy-level changes. Facilitate the maintenance and management of member data, including member cancellation, ID card replacement, member re-activation, ownership transfer, and the addition of dependents.
Underwriting and Policy Binding
Efficiently create, modify, and implement underwriting guidelines based on specific underwriting requirements. Utilize a rule engine for automated classification of straight-through (STP) and Non-STP (NSTP) cases to fast-track decision-making. Configure business rules in the underwriting rule engine to achieve consistent evaluations. Manage both medical and non-medical requirements and facilitate seamless policy issuance and kit generation. Enable omnichannel proposal registration through portals, mobile platforms, and email.
Billing and Finance
Enable premium payment through FPD, DFC, and Automatic Policy Loan (against cash value). Ensure accuracy through a payment posting against relevant head – billing premium, premium for change, FPD, DFC. Bill policies are based on billing frequency, billing mode, payment mode, and other payment scenarios. Seamlessly integrate with general ledger system for financial reconciliations. Generate the billing of files and schedule the billing process. Benefit from a transparent workflow for payment recording and posting. Easily generate billing reports and maintain transaction entries created in the system.
Provider Management
Automate communications to distributors and customers. Handle different provider types such as clinics, hospitals, doctors, and pharmacies and easily handle new provider enrolment, generate new provider ID, provider updation, and termination. Facilitate cross-department referrals during enrolment, conduct accreditation checks, and upload rate lists.
Claims Management
Establish traceability of each request, including corresponding documents and audit log of all transactions and processes. Benefit from logic-based case allocation with a pre-defined approval matrix. Make the most of easy availability of document checklists and auto-adjudication of cases based on limits and coverages to streamline decision-making and ensure the efficient distribution of tasks. Maintain flexibility through access to re-opening of claims.
Product and Plan Definition
Seamlessly set up product plans in the system through the master data management module. Configure product parameters, including plan details, premium frequency, refund logic, and cover mapping. Utilize maker/checker capability with an audit trail to ensure accuracy and accountability. Simplify the data entry process with bulk data upload.
Policy Management
Achieve a comprehensive view of policy along with financial, claim, and servicing details and apply policy-level changes. Facilitate the maintenance and management of member data, including member cancellation, ID card replacement, member re-activation, ownership transfer, and the addition of dependents.
Underwriting and Policy Binding
Efficiently create, modify, and implement underwriting guidelines based on specific underwriting requirements. Utilize a rule engine for automated classification of straight-through (STP) and Non-STP (NSTP) cases to fast-track decision-making. Configure business rules in the underwriting rule engine to achieve consistent evaluations. Manage both medical and non-medical requirements and facilitate seamless policy issuance and kit generation. Enable omnichannel proposal registration through portals, mobile platforms, and email.
Billing and Finance
Enable premium payment through FPD, DFC, and Automatic Policy Loan (against cash value). Ensure accuracy through a payment posting against relevant head – billing premium, premium for change, FPD, DFC. Bill policies are based on billing frequency, billing mode, payment mode, and other payment scenarios. Seamlessly integrate with general ledger system for financial reconciliations. Generate the billing of files and schedule the billing process. Benefit from a transparent workflow for payment recording and posting. Easily generate billing reports and maintain transaction entries created in the system.
Provider Management
Automate communications to distributors and customers. Handle different provider types such as clinics, hospitals, doctors, and pharmacies and easily handle new provider enrolment, generate new provider ID, provider updation, and termination. Facilitate cross-department referrals during enrolment, conduct accreditation checks, and upload rate lists.
Claims Management
Establish traceability of each request, including corresponding documents and audit log of all transactions and processes. Benefit from logic-based case allocation with a pre-defined approval matrix. Make the most of easy availability of document checklists and auto-adjudication of cases based on limits and coverages to streamline decision-making and ensure the efficient distribution of tasks. Maintain flexibility through access to re-opening of claims.
Horizontal Platforms for Insurance Providers
Brands using Newgen Platform
Brands using Newgen Platform
