New Business

When insurance companies launch a new product, they need to tailor their new business processes and business rules to accommodate the unique requirements of the product. This reduces speed to market for new products.

With products getting increasingly commoditized, it is critical for insurers to seize first-mover advantage by launching products quickly. Insurers need agile and flexible systems that increase speed of new product launch through customizable functional components. In addition, insurers need support systems that streamline and speed up the process right from the time an application is received to the time a policy is issued.

C2L BIZ’s New Business solution, along with its Underwriting solution, is designed to help insurers increase flexibility, and shorten time-to-market for new products. The end-to-end new business solution is equipped with product configuration engine, workflow management and document management. It is enabled for straight through processing and seamlessly integrates with our auto-underwriting solution, thereby reducing policy turnaround times.

Features of the solution:

• Flexible workflow engine
• Flexible business rules engine
• Flexible product configuration engine
• Flexible proposal configuration component
• Multiple proposal capture options
• Integration with imaging
• Requirement chasing engine
• Document management engine

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