How automated underwriting is revolutionising the insurance industry

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Automation is revolutionising the insurance industry. One of the key features of this process is ‘automated underwriting’ which is designed to help insurance companies streamline operations, manage business risk, reduce costs and provide a competitive edge in an increasingly populated insurance market.

According to Accenture, underwriting employees at insurance companies spend 50% of their time doing repetitive tasks, such as data entry. By automating underwriting this not only helps to free up employee time for more efficient tasks but there is also a huge reduction in paper process.

Nowadays, customers expect to get the best rate within minutes of providing their personal details, no matter which insurance protection they’re after. Typically with life insurance this can be a 3 month process, so with the smart technology behind our platform this helps reduce the time considerably to meet your customers expectations and keep them satisfied.

We’re proud to say that here at Intellimin, automated underwriting is not an add-on, it is an integral part of the system, enabling policies to be issued and policy changes to be made in real-time with full underwriting applied. Our state of the art graphical interface enables underwriters and reinsurers to view the rules and outcomes in an easily understandable format.

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See how Intellimin has worked with BSP Life Fiji and BSP Life PNG to help streamline their processes and create an overall better customer experience.

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