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.

Features of Newgen Policy Wording and Clause Management Software

Comprehensive Clause Library

Ability to update wordings, clauses, and definitions with complete version control

Options to apply different rules, including show, hide, and replace, on wordings to handle multiple products and endorsements

Easy search from central wordings and clause library

Maker-checker workflows to review and approve modifications to the library

End-to-end monitoring, control, and auditability of changes to wordings, definitions, and clauses

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

Low code approval workflows

Central document template library for simplified production of customers’ documents while following corporate guidelines

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

Brands using Newgen Platform
AXA
tokio
Venerable
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