NewgenONE Platform for
Digitize Group Underwriting, from Request to Contract Binding
Empowering underwriters with a digital, low-code workbench— for seamless request initiation, contract binding, and quote modification while reducing cost, and minimizing errors through robust data validation.
Simplify the quotation and contract management process of group life insurance with the bulk upload of member data, automated validations, and smart case routing capabilities. A strong rule-based underwriting system provides underwriters with a 360-degree case view and improves their decision-making with a risk rating mechanism. Adhere to all regulatory requirements, improve process visibility, ensure faster TAT, reduce operational cost, and more with a low code-based solution.
“With Newgen, we achieved a 50% improvement in TAT for data capture and quotation generation, reduced manual errors by 40% through automated validations, and streamlined member management with efficient data validation.”
Director of Underwriting, Life Insurance Provider
Learn what Newgen’s Group Underwriting Solution can do for you
Omnichannel Proposal Initiation
Enable omnichannel proposal initiation through customer portals, mobile applications, and email scanning of quotation request forms. Rating calculation, premium calculation, and rate finalization can be done in the proposal/quotation. The configurable module allows users to define and plan details for various insurance customers.
Quotation and Contract Generation
Create and auto-append multiple quotation versions to the previously generated quotation number and maintain it in the system. The system can capture all contract-related details, auto-ingest quotation data into the workflow, and quickly generate documents and real-time customer communication.
Rule-driven System
Perform rules-based premium calculation and data management using UI-based configurable masters and system-driven loading depending on the risk associated with the case. Allocate cases to underwriters based on approval authority, experience with handling case-level complexity, workload, etc.
Underwriting Checks and Validations
Validate data and perform de-dupe checks on uploaded member data. Users can also execute auto underwriting rules on member-level rules such as sum assured, adverse declaration, and age.
Omnichannel Proposal Initiation
Enable omnichannel proposal initiation through customer portals, mobile applications, and email scanning of quotation request forms. Rating calculation, premium calculation, and rate finalization can be done in the proposal/quotation. The configurable module allows users to define and plan details for various insurance customers.
Quotation and Contract Generation
Create and auto-append multiple quotation versions to the previously generated quotation number and maintain it in the system. The system can capture all contract-related details, auto-ingest quotation data into the workflow, and quickly generate documents and real-time customer communication.
Rule-driven System
Perform rules-based premium calculation and data management using UI-based configurable masters and system-driven loading depending on the risk associated with the case. Allocate cases to underwriters based on approval authority, experience with handling case-level complexity, workload, etc.
Underwriting Checks and Validations
Validate data and perform de-dupe checks on uploaded member data. Users can also execute auto underwriting rules on member-level rules such as sum assured, adverse declaration, and age.
Learn what Newgen’s Group Underwriting Solution can do for you
Proposal Initiation
Enable omnichannel proposal initiation through customer portals, mobile applications, and email scanning of quotation request forms. The system can fetch member information via Yakeen and company details such as name and email ID through the CR number, enhancing data accuracy and streamlining the proposal process. Rating and premium calculations can be performed within the proposal, with a configurable module that allows users to define and plan details for various insurance customers.
Quotation and Contract Generation
Create and auto-append multiple quotation versions to the previously generated quotation number and maintain them in the system. The platform can capture all contract-related details, auto-ingest quotation data into the workflow, and create documents with real-time customer communication. Masdar and Saudi Post integrations provide complete employee and address details directly within the contract, such as sponsor numbers and accurate location data.
Rule-driven System
Perform rules-based premium calculation and data management using UI-configurable masters and system-driven loading depending on case risk. Retrieve wage information through GOSI, including annualized weekly wages, for accurate premium calculations. Cases can be allocated to underwriters based on approval authority, complexity, and workload, supporting efficient decision-making.
Underwriting Checks and Validations
Validate data and perform de-duplication checks on uploaded member data. Auto-underwriting rules, based on member-level criteria like the sum assured, adverse declarations, and age, streamline the process, ensuring compliance and accuracy in underwriting decisions.
Proposal Initiation
Enable omnichannel proposal initiation through customer portals, mobile applications, and email scanning of quotation request forms. The system can fetch member information via Yakeen and company details such as name and email ID through the CR number, enhancing data accuracy and streamlining the proposal process. Rating and premium calculations can be performed within the proposal, with a configurable module that allows users to define and plan details for various insurance customers.
Quotation and Contract Generation
Create and auto-append multiple quotation versions to the previously generated quotation number and maintain them in the system. The platform can capture all contract-related details, auto-ingest quotation data into the workflow, and create documents with real-time customer communication. Masdar and Saudi Post integrations provide complete employee and address details directly within the contract, such as sponsor numbers and accurate location data.
Rule-driven System
Perform rules-based premium calculation and data management using UI-configurable masters and system-driven loading depending on case risk. Retrieve wage information through GOSI, including annualized weekly wages, for accurate premium calculations. Cases can be allocated to underwriters based on approval authority, complexity, and workload, supporting efficient decision-making.
Underwriting Checks and Validations
Validate data and perform de-duplication checks on uploaded member data. Auto-underwriting rules, based on member-level criteria like the sum assured, adverse declarations, and age, streamline the process, ensuring compliance and accuracy in underwriting decisions.
Features of Newgen’s Quotation and Contract Management Software for Group Life Insurance
Proposal Initiation
Enable omnichannel proposal initiation through customer portals, mobile applications, and email scanning of quotation request forms. Rating calculation, premium calculation, and rate finalization can be done in the proposal/quotation. The configurable module allows users to define and plan details for various insurance customers, and the maker-checker approval process enables easy maintenance of coverages, benefits, and exclusions. It also supports Excel upload to quickly capture and add new member details and update existing ones.
Quotation and Contract Generation
Create and auto-append multiple quotation versions to the previously generated quotation number and maintain it in the system. The configurable user interface enables users to define data elements and pre-define quotation templates, and the simplified editing features help create simple to complex contracts. The system can capture all contract-related details, auto-ingest quotation data into the workflow, and quickly generate documents and real-time customer communication.
Rule-driven System
Perform rules-based premium calculation and data management using UI-based configurable masters and system-driven loading depending on the risk associated with the case. Allocate cases to underwriters based on approval authority, experience with handling case-level complexity, workload, etc. In-built rules enable clause addition and exclusion and auto trigger of underwriting messages.
Smart Case Routing
Enable ad-hoc case routing to different departments for evaluation, such as the medical team, legal team, etc. Requirement management and discrepancy management capability enables underwriters to raise requirements for customers.
Monitoring and Reporting
Generate reports to cater to different business requirements and easily monitor and adhere to compliance requirements.
Underwriting Checks and Validations
Perform data validation and de-dupe checks on uploaded member data. Users can also execute auto underwriting rules on member-level rules such as sum assured, adverse declaration, and age.
Proposal Initiation
Enable omnichannel proposal initiation through customer portals, mobile applications, and email scanning of quotation request forms. Rating calculation, premium calculation, and rate finalization can be done in the proposal/quotation. The configurable module allows users to define and plan details for various insurance customers, and the maker-checker approval process enables easy maintenance of coverages, benefits, and exclusions. It also supports Excel upload to quickly capture and add new member details and update existing ones.
Quotation and Contract Generation
Create and auto-append multiple quotation versions to the previously generated quotation number and maintain it in the system. The configurable user interface enables users to define data elements and pre-define quotation templates, and the simplified editing features help create simple to complex contracts. The system can capture all contract-related details, auto-ingest quotation data into the workflow, and quickly generate documents and real-time customer communication.
Rule-driven System
Perform rules-based premium calculation and data management using UI-based configurable masters and system-driven loading depending on the risk associated with the case. Allocate cases to underwriters based on approval authority, experience with handling case-level complexity, workload, etc. In-built rules enable clause addition and exclusion and auto trigger of underwriting messages.
Smart Case Routing
Enable ad-hoc case routing to different departments for evaluation, such as the medical team, legal team, etc. Requirement management and discrepancy management capability enables underwriters to raise requirements for customers.
Monitoring and Reporting
Generate reports to cater to different business requirements and easily monitor and adhere to compliance requirements.
Underwriting Checks and Validations
Perform data validation and de-dupe checks on uploaded member data. Users can also execute auto underwriting rules on member-level rules such as sum assured, adverse declaration, and age.
Solutions Built On NewgenONE Platform for Life Insurance
Horizontal Platforms for Insurance Providers
Brands using Newgen Platform
Brands using Newgen Platform
Success Stories
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