Digital. Dynamic. Dependable.
Leverage Real-time Data Insights to Gain a Competitive Edge in P&C Insurance
Modernize underwriting, policy binding, and claims management for property and casualty (P&C) insurance with accurate risk analysis and data-based decision-making.
“With Newgen’s solutions for P&C insurance, we’ve delivered faster and more relevant services to our policyholders. We were able to digitize half-a-million documents, thus reducing our paper usage by 75%, improving security, and allowing more flexibility to our teams.”
Chief Technology Officer, Leading Top 10 US P&C Insurer
Learn What Newgen’s Property & Casualty Insurance Solutions Can Do For You
Brands using Newgen Platform
Key Benefits
- Faster onboarding and quote-to-bind processes improve efficiency and reduce time to policy issuance
- Efficient and faster claim settlement results in enhanced customer experience
- Automated workflows and data validation ensure accurate underwriting and claim processing
- Enhanced fraud prevention and ensured compliance with evolving regulations reduce legal risks and maintain trust
Find Your Winning Strategy with Newgen
Request a demo to explore our solutions for faster claims processing, policy management, and automated underwriting for general insurance journey automation.
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Frequently Asked Questions
Newgen’s Solutions for Commercial (Property & Casualty) Insurance helps insurers to digitize and streamline the commercial insurance lifecycle, from quote generation to policy binding, and enhance the customer experience across onboarding, claims, and servicing journeys.
Additionally, it helps to increase responsiveness, simplify complexity, mitigate risks, and fuel growth through a seamless digital transformation of the insurance processes.
Newgen’s Solution for Commercial (P&C) Insurance leverages AI-powered models and predictive analytics for better risk assessment and improved underwriting. The solution creates an automated journey, employing Straight-Through Processing (STP) to generate policies without manual intervention from underwriters. This helps ensure that policies are created with high accuracy and efficiency.
The Quotation Management feature helps generate accurate and customized quotations swiftly without the manual intervention of underwriters. It allows the user to implement dynamic pricing models for better risk assessment and profitability.
Case Management uses Logic-based case allocation among underwriters considering indemnity limit, coverages, channels, geography, and underwriting levels.
The Claims Management feature helps Streamline the entire claims lifecycle from initiation to settlement, thus reducing processing times and improving customer satisfaction.
Claims Management helps expedite the claims process with automated document handling. The system auto-senses incoming documents.
Claims Management allows you to implement a dedicated sub-process that helps to effectively handle salvage and subrogation scenarios.
Claims Management utilizes Claims Triaging to prioritize and categorize claims for optimized processing through efficient claims triaging.
The Policy Booking and Binding feature helps expedite the contract binding process through automated workflows, minimize errors, and ensure compliance.
Newgen’s Policy Servicing capability utilizes a rule-based engine to recalculate premiums, payouts, switching amounts, etc, and helps achieve Straight-Through Processing (STP) for low-complexity submissions.
The Enhanced Client Portal allows clients to download and track policies with endorsements. It also Enables tracking of claim status and downloading of claim Management Information System (MIS).
