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
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