Sapiens UnderwritingPro for L&A
Overview
Sapiens UnderwritingPro for Life & Annuities (formerly called StoneRiver LifeSuite) is a web-based solution for automated underwriting and new business case management that is part of Sapiens CoreSuite for Life & Annuities (formerly called Sapiens ALIS). It speeds new business processes for insurance carriers and their channels, offering an intuitive user interface with critical updates and task assignments provided on a real-time dashboard. Sapiens UnderwritingPro enables underwriters and case managers to work on multiple cases simultaneously.
Integration with MIBs, MVRs, Rx data and evaluation services, lab data, inspections reports, attending physician statements, reinsurance, imaging systems and much more, increases processing efficiency. Reporting tools provide real-time or scheduled access to critical case information.
UnderwritingPro is highly configurable and can be customized to fit the organization’s unique underwriting guidelines and business processes. It enables the organization to deploy new rules immediately and quickly roll out new products, without requiring expensive programming changes.
Key Features
- Straight-through processing for eligible cases
- Equal success for simplified issue and fully underwritten products
- Case management dashboard – real-time updates
- Integrated user-configurable rules engine
- Automated requirements processing
- Reduction of unnecessary and duplicate orders
- Fewer not-taken cases
- Compliance with ACORD XML
- Highly configurable platform
Key Benefits
- Reduced time to issue and policy acquisition costs via straight-through processing for eligible cases, automated requirements processing, simplified issue and fully underwritten products
- Fully automated processing of cases eligible for automatic approval, automated ordering, receipt and evaluation of requirement evidence data and system-generated alerts and recommendations increase efficiency for underwriters, freeing them up for more complex cases, and reduce unnecessary and duplicate orders
- Highly configurable platform with an integrated, user-configurable rules engine increases organizational flexibility
Media
- Insurer Gets Significantly Faster Via Automated Underwriting
- Ivari: New Technology Speeds Underwriting Decisions
- Woodmen Life Benefits from Automated Underwriting