SymbioSys Underwriting
High underwriting cost and turnaround time for application to policy conversion
Quick sales closure for standard cases
Inability to provide differentiated underwriting experience based on customer/distributor profile, demography, etc.
Auto assignment of underwriter based on case- underwriter profile match
Inability to automatically trigger and track requirements
Reduction in turnaround time (TAT) for proposal to policy conversion
Improvement in auto underwriting rate
Improvement in quality through consistent underwriting process
Reduction in New Business processing cost
Improved Distributor motivation and customer experience
Quick sales closure for standard cases
Increase in straight through processing (STP) rate
Quick and informed underwriting decisions to improve underwriting income
Reduction in New Business Processing cost
Quality information for taking timely decisions
Ability to extend underwriting to point of sale
Flexibility: Flexibility in rules configuration based on business parameters and case assignment based on underwriter profile
Requirement Management: Automated requirement generation, tracking and escalation
Question Configuration: Reflexive questionnaire configuration for tele-underwriting
Counter Offer: Multiple options for generating counter offer including computation of additional risk premium
Ease of Integration: Flexible, well defined integration approach for reduced TCO