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50% Higher Operational Efficiency     |     70% Faster Policy Issuance     |     40% Higher Retention Rate    |    50% Lesser Manual Intervention     |     50% Higher Operational Efficiency     |     70% Faster Policy Issuance     |     40% Higher Retention Rate    |    50% Lesser Manual Intervention     |     50% Higher Operational Efficiency     |     70% Faster Policy Issuance     |     40% Higher Retention Rate    |    50% Lesser Manual Intervention     |     50% Higher Operational Efficiency     |     70% Faster Policy Issuance     |     40% Higher Retention Rate    |    50% Lesser Manual Intervention     |     50% Higher Operational Efficiency     |     70% Faster Policy Issuance     |     40% Higher Retention Rate    |    50% Lesser Manual Intervention     |     50% Higher Operational Efficiency     |     70% Faster Policy Issuance     |     40% Higher Retention Rate    |    50% Lesser Manual Intervention     |    

“The Intelligent Underwriting Solution improved policy issuance time and increased first-pass approvals. The AI-based solution enabled us to deliver faster, more accurate decisions while enhancing customer satisfaction and driving a 20% growth in new business.”

VP of Underwriting Operations, Leading US Life Insurer

Learn What Newgen’s Policy Issuance & Underwriting Solution Can Do For You

New Policy Submission & Product Recommendations

Enable omnichannel policy initiation and proposal generation through the portal, mobile, and email. Leverage AI/ML engines to analyze customer data and create detailed profiles, capturing unique preferences and risk factors. Initiate new business requests through the portal by capturing need analysis, offering customer-specific product recommendations, and generating an instant quote.

Integration Ecosystem and Automated Validation

Seamlessly integrate with core systems, third-party, and legacy applications, such as policy administration, CRM, etc. Support integration with TPAs for conducting medical tests. Enable automatic update of KYC details and upload of documents. Allow automated lifestyle profiling through the integration of wearable devices and facial analysis to enhance assessment accuracy.

Omnichannel Communications and Policy Kit Generation

Enable personalized, need-specific communication on the policyholder’s preferred channel throughout the customer journey. Achieve instant quotations and policy generation with a configurable template library.

Intelligent Underwriting

Maximize issuance and mitigate risk with rules-based underwriting. Support GenAI-based medical report analysis with NewgenONE Marvin. Get a 360-degree underwriting workbench that unifies risk profiling and premium calculation, handles requirements management, and generates counteroffers with revised premiums or clauses.

New Policy Submission & Product Recommendations

Enable omnichannel policy initiation and proposal generation through the portal, mobile, and email. Leverage AI/ML engines to analyze customer data and create detailed profiles, capturing unique preferences and risk factors. Initiate new business requests through the portal by capturing need analysis, offering customer-specific product recommendations, and generating an instant quote.

Integration Ecosystem and Automated Validation

Seamlessly integrate with core systems, third-party, and legacy applications, such as policy administration, CRM, etc. Support integration with TPAs for conducting medical tests. Enable automatic update of KYC details and upload of documents. Allow automated lifestyle profiling through the integration of wearable devices and facial analysis to enhance assessment accuracy.

Omnichannel Communications and Policy Kit Generation

Enable personalized, need-specific communication on the policyholder’s preferred channel throughout the customer journey. Achieve instant quotations and policy generation with a configurable template library.

Intelligent Underwriting

Maximize issuance and mitigate risk with rules-based underwriting. Support GenAI-based medical report analysis with NewgenONE Marvin. Get a 360-degree underwriting workbench that unifies risk profiling and premium calculation, handles requirements management, and generates counteroffers with revised premiums or clauses.

Brands Using the NewgenONE Platform
AXA
tokio
Venerable
Bajaj
MAX
Explore Newgen’s Other Life Insurance Solutions

Policy Booking & Binding

Streamline and automate the process to effectively manage complex policies and clause updates with template libraries and rule definitions.

Intelligent Claims Management

Optimizing claims by maximizing STP and streamlining settlement across claim types to elevate customer satisfaction and retention.
Success Stories
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Case Study: US-based Fortune 500 Insurer Digitally Transforms Claims Department with Newgen’s Contextual Content Services (ECM) System

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Case Study: A US-based Insurance and Annuity Provider Modernizes End-to-end Policy Servicing with Newgen

Featured Image

Case Study: US-based Fortune 500 Insurer Digitally Transforms Claims Department with Newgen’s Contextual Content Services (ECM) System

Featured Image

Case Study: A US-based Insurance and Annuity Provider Modernizes End-to-end Policy Servicing with Newgen

Find Your Winning Strategy with Newgen

See how Newgen’s low-code platform is transforming the insurance industry. Request a demo to explore our insurance-specific solutions.

Request a demo

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