Policy Issuance and Underwriting

Issue policies instantly and accurately using an auto-underwriting rules engine.

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 Policy Issuance and Insurance Underwriting Software - Policy Issuance and Underwriting

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 Issuance and Underwriting
Policy Issuance and Underwriting

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
Policy Issuance and Underwriting

Rules-based Underwriting

  • 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

Solutions for Insurance Firms

Issue policies instantly and accurately using an...

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Success Stories

Policy generation in under 5 seconds - Policy Issuance and Underwriting
Policy generation in under 5 seconds
A leading insurance company implements a communication management system to streamline their policy generation process.
7 billion documents digitized and stored - Policy Issuance and Underwriting
7 billion documents digitized and stored
A leading South Asian life insurance company digitizes 7 billion documents using Newgen's document management system.
Created a digitally connected workplace - Policy Issuance and Underwriting
Created a digitally connected workplace
The client is a Fortune 500 insurance company that provides personal, business, and specialty insurance. It is one of...

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Webinar: Act at the Speed of your Insurance Customers

Webinar

Act at the Speed of your Insurance Customers

On-Demand

Watch Ellen Carney from Forrester Research and Anurag Shah from Newgen as they discuss how ...