Policy Issuance and Insurance Underwriting Software
Automate the end-to-end policy issuance process and expedite proposal processing by issuing policies instantaneously with zero insurance underwriting errors. Ensure a smooth conversion of quotations into proposals for reduced turnaround times, a superior customer experience, and a shorter prospect to customer lifecycle. Meet regulatory requirements and adapt to dynamic business needs with our configurable platform.
Policy Elements and Underwriting Analysis
- Configurable user interface to define data elements per specific requirements
- Sophisticated dashboards for in-depth data analysis and report generation
Policy Underwriting Evaluation
- Automatic policy evaluation to maximize the percentage of straight-through pass cases
- Evaluation of non-straight-through pass cases in detail based on complexity
Underwriting Checks and Validations
- Verification and validations, including duplicity checks, anti-money laundering, fraud and blacklisting, etc.
- 360-degree visibility to reduce risk
- Auto-allocation rules to eliminate manual intervention for simple proposals, calculate risk scores, and make faster, more informed decisions
- Dynamic rules to facilitate the straight-through processing of low complexity submissions and automate key underwriting tasks
- Abstract underwriting rules and complex logic configured into the platform
- Flexibility to change rules according to dynamic requirements and future needs
Policy Information Accessibility
- Access to comprehensive policy details to ensure informed decision making
- Request capabilities for additional documents and information, based on medical or non-medical parameters
Integration and Personalization Capabilities
- Seamless integration with third-party and legacy applications, including policy administration, CRM, and other systems
- Omnichannel, personalized engagement across all channels, including web, mobile, chat, social media, bots, and in-person
The highly competitive insurance industry is replete with time-consuming, routine, and repetitive tasks which contribute ...
To cater to customers' dynamic needs and the growing demand for remote and touchless operations, ...
The organization faced challenges in delivering effective customer communications due to manual, time-consuming processes, and ...
Evolving market dynamics and regulatory changes are forcing insurance companies to focus on policy administration ...