Policy Wording, Binding and Generation

Digitize the end-to-end policy lifecycle and enable seamless policy generation

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 Policy Wording, Binding and Generation - Policy Wording, Binding and Generation

Policy Wording, Binding and Generation


Streamline the policy wording, binding, and generation process to minimize losses and penalties by deftly managing complex policies and clause updates. Enable back office and underwriting teams with self-service access to the wording library. Improve process efficiency with features such as template libraries, clause libraries, rule definition, and strong integration capabilities with core systems.

Policy Wording, Binding and Generation

Comprehensive Clause Library

  • Support for creating new clauses and precise product and policy wordings
  • Ability to update clauses based on the type of product/endorsement/service
  • Ability to apply various rules, such as show, hide, or replace, on wordings to handle multiple products and endorsements
  • Powerful search capabilities
  • Maker-checker capability to highlight any changes made in the clause library
  • End-to-end monitoring and detailed audit trails
Policy Wording, Binding and Generation

Dynamic Template Library

  • In-built dynamic text editor for creating new templates
  • Support for uploading existing templates into the system
  • Ability to automatically add words associated with endorsement/product type in policies
Policy Wording, Binding and Generation

Seamless Policy Creation

  • Detailed view of the rules applied at the time of policy generation
  • Rule-based policy/wording/clause editing by designated users
  • Seamless integration with the core policy administration system for fetching the client/coverage/endorsement details, selecting the corresponding template, and applying the relevant wording rules based on the selected coverages
  • Support for API and batch-based integration to get the metadata required for policy generation
  • Auto-storage of client-specific edits in the local library, which are helpful at the time of renewals

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Success Stories

Accelerated digital
transformation of Processes


Watch how Venerable leveraged Newgen’s platform to accelerate digital transformation for enterprise-wide processes.

Digital Health
in the Pandemic World


Hear Alok Rungta, Head of Health and Protection, AXA Insurance, as he speaks on the post-pandemic customer behavior

Faster speed-to-market
with Newgen


Learn how Tokio Marine HCC modernized their policy generation process with Newgen.

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