Key Insurers Challenges

Lack of systemic process control in multiple manual, handshakes across system

Inability to configure questionnaire requirements for automated tracking

Longer time to modify the alterations in proposal form

Non availability of system during batch runs

Manual assignment of cases to Underwriters and inconsistency in underwriting decisions

Use of underwriters for even for basic tasks and decisions

Key Business Drivers

Seamless integration capability with legacy platforms and service providers

Capability to support multiple distribution channels and products

Ability to configure business process flows and complex rules

Comprehensive underwriting capability with automated rating, scoring and decision

Ability to capture proposal in online-offline mode

Stage wise exception management,Case management,requirements management and evidence management

System Overview

“SymbioSys New Business system has been designed to significantly enhance new business productivity and quality. It fits snuggly within insurer’s existing environment and becomes a strategic differentiator as it improves the agility of the insurer to respond to market and competitive needs.”

Key Differentiating Features

Business Agility: Brings dynamism to respond quickly to evolving market needs and competition 

Operational Productivity : Achieved through enhanced quality, improved underwriting efficiency and reduced resource efforts.

STPs: Provides ability to increase Jet issue cases due to quick work flow adaptations

Consistency & Accuracy: System control and tracking increases risk assessment accuracy, brings consistency, and provides better information for future process improvements  

Discerning Analytics: Provides dashboard and comprehensive case analysis

Key Business Benefits

Improves TAT for NB processing

Reduces cost of new business acquisition

Improves operational productivity and efficiency

Improves quality through consistent underwriting process

Enhances capability to respond quickly to market changes and competition

Enables early recognition of premium income