Life / Annuity / Health New Business and Underwriting Systems

VENDORMATCH

A new business and underwriting system may contain five main capabiities: • Collecting data at the front end as structured data in an electronic application that has been adapted for distribution channel and products. • Triaging risk in new business and underwriting rules engines that identify underwriting requirements and level of human underwriting intervention. • Fulfilling the various back office functions needed for processing such as evidence ordering, tracking and routing, correspondence, etc. • Analyzing the resulting data for actuarial, underwriting, pricing, and marketing purposes. This includes automating the underwriting without intervention by a live underwriter. • Status tracking and reporting. They may also include workflow.
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