Redefine end-to-end quotation management journey from request initiation to quote creation, premium calculation, and proposal generation by leveraging Newgen’s Quotation Management Solution, built on a low code digital transformation platform.
Expedite the quotation generation process and accelerate your delivery time with omnichannel request initiation, automated case allocation, product set-up configuration, and advanced underwriting requirement management. Calculate and adjust premiums with the simple click of a button. Achieve improved lead generation, minimized operational costs, enhanced customer service, and reduced data entry effort, all while maintaining compliance.
Features of Newgen Quotation Management Solution for Commercial (P&C) Insurance
Intelligent Document Generation and Management
Upload documents at each stage of the quotation cycle and use the interactive screen to capture, analyse, and resolve documents within the same process. The split screen view of documents for users helps expedite quotation processing, and multiple pre-defined templates help generate quotation documents and benefit charts. The solution supports a 360-degree view of documents across the quotation cycle and has a consolidated repository of documents. Integration with core data and data saving at the process level help simplify quotation workflow.
Core Underwriting Engine
Leverage a single, unified interface for the quotation process, from quotation request to quotation generation and sharing. The master data management module can auto-populate clauses, warranties, and deductibles on quotation templates. The solution has the flexibility to add, delete, or modify auto-populated data as per dynamic business requirements, and supports quotation generation/versioning/cloning, and system-based sharing of quotations across all stakeholders.
Product Set-up Configuration
Configure product set-up based on policy type and sub-type using the built-in business rule management system. The master data management module can be used to define risk, commodity, coverage, rating, clause, and deductible based on the line of business (e.g., marine, property, or vehicle)
Premium Calculation and Modification
Perform complex premium rule calculation supported by a configurable business rules engine.
The solution has the flexibility to trigger different sets of premium calculation rules and ratings existing in the core system.
Dynamic Approval Matrix
Enable case creation via multiple modes (client/intermediary/sales), and auto-allocate cases among underwriters based on the line ofbusiness, indemnity limit, channel, geography, etc. Route cases to internal and external stakeholders for approval based on defined rules.
Omnichannel Quotation Request Initiation
Enable multi-channel initiation of quotation requests via web, mobile, IVR, scan, and email and role-based authentication for external partners, intermediaries, and employees. The extended web-based interface for brokers allows them to generate quotations, issue policies, and raise claims.
Intelligent Document Generation and Management
Upload documents at each stage of the quotation cycle and use the interactive screen to capture, analyse, and resolve documents within the same process. The split screen view of documents for users helps expedite quotation processing, and multiple pre-defined templates help generate quotation documents and benefit charts. The solution supports a 360-degree view of documents across the quotation cycle and has a consolidated repository of documents. Integration with core data and data saving at the process level help simplify quotation workflow.
Core Underwriting Engine
Leverage a single, unified interface for the quotation process, from quotation request to quotation generation and sharing. The master data management module can auto-populate clauses, warranties, and deductibles on quotation templates. The solution has the flexibility to add, delete, or modify auto-populated data as per dynamic business requirements, and supports quotation generation/versioning/cloning, and system-based sharing of quotations across all stakeholders.
Product Set-up Configuration
Configure product set-up based on policy type and sub-type using the built-in business rule management system. The master data management module can be used to define risk, commodity, coverage, rating, clause, and deductible based on the line of business (e.g., marine, property, or vehicle)
Premium Calculation and Modification
Perform complex premium rule calculation supported by a configurable business rules engine.
The solution has the flexibility to trigger different sets of premium calculation rules and ratings existing in the core system.
Dynamic Approval Matrix
Enable case creation via multiple modes (client/intermediary/sales), and auto-allocate cases among underwriters based on the line ofbusiness, indemnity limit, channel, geography, etc. Route cases to internal and external stakeholders for approval based on defined rules.
Omnichannel Quotation Request Initiation
Enable multi-channel initiation of quotation requests via web, mobile, IVR, scan, and email and role-based authentication for external partners, intermediaries, and employees. The extended web-based interface for brokers allows them to generate quotations, issue policies, and raise claims.
Horizontal Platforms for Insurance Providers
Brands using Newgen Platform
Brands using Newgen Platform
