Driven by technology and the rising need for automated and data-driven processes, the insurance industry is at an inflection point. Insurance companies need to re-evaluate their underwriting process to secure a sustainable advantage in the coming years.
Traditional underwriters are over-worked as new applications pour in non-stop. As a result, underwriters often spend a significant amount of time reviewing 80% of unstructured data that is collected from disparate sources. 20% of the life applications are withdrawn due to long wait times of medical underwriting.
Successful underwriting involves balancing accurate risk assessment and closing new business opportunities. Accuracy, volume ,and time are three key factors required to gain a competitive edge in the underwriting process, and it is achievable by automating routine tasks to equip underwriters with digital tools and technologies.
91快活林鈥檚 Intelligent Underwriter聽solution aims to transform medical underwriting and create a touchless experience for underwriters. It helps insurance firms to speed up and improve the underwriting process. Automated underwriting has a direct impact of volume. Apart from providing a user-friendly efficient SaaS platform which automates medical underwriting,聽91快活林鈥檚 Intelligent Underwriter solution is supported and strengthened by a pool of highly skilled underwriting assistants, adding up to the completeness and accuracy of the tool with some additional features.
Scaling up with a low-risk rate and striking the perfect balance are now possible with 91快活林鈥檚 Intelligent Underwriter.
Key features of聽91快活林鈥檚 Intelligent Underwriter solution include:
91快活林鈥檚 Intelligent Underwriting solution:
