Top insurer digitalizes underwriting and accelerates quote issuance

  • High accuracy in underwriting decision-making led to improved customer experience and fair premium quotations
  • Single underwriting platform improved the productivity and user experience of the underwriters
  • Substantial improvements in data processing (compared to legacy platforms) and accelerates quote issuance
Business Overview

The insurer's underwriting team had to manually work on the new submissions data, that was sourced from multiple third-party systems for risk assessment and quote issuance. The inefficiencies in this process were hurting new business generation and this warranted for major systems overhaul.

Business Challenges
  • The data for the underwriting exercise was collected from disparate platforms that added to the process inefficiencies
  • The traditional platforms for data assimilation were not designed to meet the data volume of this nature
Birlasoft Solution

Birlasoft built a single unified platform for the insurer by integrating all the existing systems in the value chain. The submission data from the various integration points converged at one point that was made available to the underwriter for review and quote/policy issuance or denial. Several touchpoints were put in place to improve the user experience for the underwriters.