The Policy Processor (TPP)
Ebix solution has proven to dramatically reduce our client’s cycle times, including; reduction of new business and underwriting FTEs (full time employees) due to auto underwriting, simple data entry and data feeds replacing manual entry, user training is reduced due to ease of use and support of remote users, retired client legacy systems and move customers to modern user experience with greater scalability and performance, and deliver enhanced service to customers via more effective processes delivered through optimal workflow management that improves agent/producer/client experience.
In addition, Ebix continues to invest in its products and has established itself as a global leading platform with a strong staff (500 FTEs) with years of new business and underwriting specific domain expertise. Also, our footprint extends throughout the life cycle that includes CRM (Agent Desktop/Practice Management), Quoting, Sales Illustration, E-Application and Policy Delivery.
Today, Ebix maintains several notable clients around the globe that include John Hancock, Manulife, Max India, Nationwide and Sun Life International where we have successfully deployed Ebix new business and underwriting platforms.Our platform also is extensible to support the capture of electronic Applications for companies like CUNA Mutual Trustage (D2C) brand, The Co-Operators captive distribution and MGA channel where we support over 50+ products and BMO for individual life and others.
The Policy Processor™ is the industry's most advanced and comprehensive new business processing and underwriting system for life insurance. TPP accommodates all life insurance products, across all distribution channels. The application is integrated with a heterogeneous mix of on-house and third party systems. The information is collected from both the end-customer and agent through web-based e-forms, as well as from external data sources for background checks. TPP provides a means of straight through processing of underwriting information for medically underwritten as well as jet underwritten cases. TPP is API enabled and is a low code configuration based platform.
The Policy Processor™ forms a collaborative network hub, connecting organizations, systems, and people in the new business processing service chain. The underwriting and new business processing departments work collaboratively with several departments within the company, as well as with outside vendors and agents in the field. With TPP, the ecosystem is connected, making it possible for seamless, accurate, and expeditious processing of new business cases.