SymbioSys (Life PAS)
SymbioSys Life PAS is made up of components like SymbioSys Product Configurator, SymbioSys Sales Tool, SymbioSys New Business & Underwriting, SymbioSys Claim Management, SymbioSys Distribution Management System, which covers all operations of an Insurance Company such as Sales Illustration, eApplication, New business, Underwriting & Workflow, Claims Management, Distribution Management (onboarding, Commission, Incentive, Contests, Payout) & Self Service Portal for Distributors/Customers. This powerful and dynamic application can be rapidly adapted to any insurance business requirements.
Some of the key features of SymbioSys Life PAS include: Ready Services with strong configurability and automations for faster time to market for new Products, Channels, Compensation launch creating competitive edge through Differentiating Business / Operating models with an ability to proactively analyze risks with the right kind of business rules.
- High data accuracy and quality – the capture of data with all validations controlled by configurators
- Reflexive questionnaire and requirements generation based on configurable business rules.
- Reduced Time to Market for launch/ packaging of New Products with Intelligent workflow-driven processing for flexible adaptation, reduced time and cost.
- Seamlessly integrated auto underwriting for quick decision Reduction in turnaround time (TAT) for proposal to policy conversion Improvement in STP rate Improvement in quality through consistent underwriting process
- Reduction in New Business acquisition cost Improved Distributor motivation and customer experience Quick sales closure for standard cases
- Increased operational efficiency due to automation of routine tasks
- Effective Insurance Claim Processing
- Reduced movement of physical documents and communication cost
- Significant Reduction in claims turnaround time (TAT)
- Enhanced customer/partner service
- Reduced Time to Market for launching new types of claims.