NewgenONE Platform for
Policy Booking and Binding for Life and Annuity Insurance
Streamline and automate the process to effectively manage complex policies and clause updates.
Achieve comprehensive management of policies and clauses, including creation, processing, maintenance, and archival. Provide underwriters and back-office users with self-service access to the word library and enable collaboration. Enhance process efficiency with features such as clause libraries, template libraries, integration capabilities, and rule definition.
Features for Newgen’s Policy Booking & Binding Solution for Life & Annuity Insurance
Rule-based Clause Management
Define new clauses of the contract through an interface, where rule-based wordings can be included, excluded, or replaced at the clause definition level.
Template Library
Determine multiple template structures on lines of business, product, or endorsement levels. Allow users to import templates from the library or create new templates. Instantly update existing templates.
Clause Library
Revise clauses, wordings, and definitions with complete version control and apply various rules to handle multiple products and endorsements. Users can access a centralized wordings and clause library for easy search and utilize maker-checker workflows to review and approve modifications in the library.
Contract Generation
Generate policy contracts on demand or in batch mode using clauses, wordings, and defined templates. Enable rule-based policy/wording/clause editing by designated users.
Easy Integration
Seamlessly integrate with the core policy administration system to retrieve client, coverage, and endorsement details, select a suitable template, and apply relevant wording rules based on the chosen coverages. Obtain the required metadata for policy generation and integration to support API and batch-based integration.
Rule-based Clause Management
Define new clauses of the contract through an interface, where rule-based wordings can be included, excluded, or replaced at the clause definition level.
Template Library
Determine multiple template structures on lines of business, product, or endorsement levels. Allow users to import templates from the library or create new templates. Instantly update existing templates.
Clause Library
Revise clauses, wordings, and definitions with complete version control and apply various rules to handle multiple products and endorsements. Users can access a centralized wordings and clause library for easy search and utilize maker-checker workflows to review and approve modifications in the library.
Contract Generation
Generate policy contracts on demand or in batch mode using clauses, wordings, and defined templates. Enable rule-based policy/wording/clause editing by designated users.
Easy Integration
Seamlessly integrate with the core policy administration system to retrieve client, coverage, and endorsement details, select a suitable template, and apply relevant wording rules based on the chosen coverages. Obtain the required metadata for policy generation and integration to support API and batch-based integration.
Horizontal Platforms for Insurance Providers
Brands using Newgen Platform
Brands using Newgen Platform
