Traditional insurance underwriting poses considerable challenges with its reliance on manual processes, marked by voluminous paperwork, causing delays and introducing potential errors, thereby amplifying operational costs.
But here’s the game-changer: underwriting automation with InsurEdge. It’s all about automating insurance underwriting, making things faster,smoother and ushering in a more efficient and cost-effective underwriting era in the insurance industry.
What sets InsurEdge apart?
This cloud-deployable framework goes beyond simple automation in insurance underwriting. No more extended waiting time or navigating through tedious manual processes. InsurEdge takes it up a notch by automating around 90% of underwriting tasks, ensuring approvals happen in a flash – we’re talking under 5 minutes instead of the usual days.
What makes our automation framework for underwriting unique?
|What it does
|Rules based engine cuts delays & ensures straight-through approvals
|Quicker decisions means speedier policy issuance & no application backlogs
|Reduced manual underwriting & errors
|Fewer cost-risks, time savings
|Increased revenue opportunities
|Framework offers insights & cross-selling opportunities
|Revenue increase & well-served customers
|Reduced resource requirement
|Automated modules drastically reduce manual intervention
|Valuable resources made available for high priority tasks
|Simple UI easy for agents, underwriters & other stakeholders to use
|Easy launch & use with no break-in period
|Enables seamless interaction of applications
|Effective data relay & data processes
InsurEdge stands out as a transformative solution due to its distinctive features, making it the go-to choice for a streamlined and effective experience
8 reasons why you should consider InsurEdge for automating your underwriting process
- Customizable and configurable for your unique business needs
- Effortless scalability
- Transparent fixed bid pricing
- Vendor independence and self-sufficiency
- Smooth integration process
- Freedom from third-party dependencies
- Efficiency through reusable components
- Precision via rules-based applications
Your peer’s success story
This leading India life insurer has achieved ~90% underwriting automation, recording a substantial jump in efficiency.
This success narrative not only underscores the tangible benefits of underwriting automation but also reshapes industry standards, where speed and precision take center stage.
InsurEdge’s framework modules and functionalities
- Rules management, rules simulator, rules binding
- Category, campaign, and product management
- Approval, user, distributor, and audit management
- Predictive analytics
- Partner deployments
- Integration with internal and external systems
The incorporation of advanced features, such as real-time decision-making and adaptable configurations, not only makes InsurEdge stand out but also lays the groundwork for a future where conventional industry norms undergo a substantial overhaul.
This paradigm shift is marked by heightened efficiency, accelerated processes, and an elevated standard of precision, ultimately redefining the landscape of insurance operations.
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