NewgenONE Platform for
Closed Book Insurance Business
Ensure seamless servicing of shelved products with software for claims and policy management
Keep your existing customers happy every step of the way, even when you shelve old products to upgrade and stay in the competition. Customers who have purchased your shelved products should have access to services without disruption. Leverage our claims management and policy servicing solutions to provide best-in-class service to the customers of shelved products by creating a process automation layer that automates the entire servicing and claims journey and integrates with the core and relevant applications to fetch customer data. Meet the ever-changing business needs with process orchestration capabilities to design a policy servicing and claims journey that matches requirements and enhances customer satisfaction.
Features of Newgen’s Solution for Closed Book Insurance Business
Policy Servicing Solution
The solution has omnichannel service request initiation capability and enables customers of closed policy to raise service requests of financial and non-financial nature. Customers can raise single or multiple service requests simultaneously against one policy. It also helps with rule-based calculation of the premium of financial requests and performs checks and validations like duplicity checks, AML checks, etc., with the help of Application Programming Interface (API) integration with fraud detection applications.
Claims Management Solution
The solution provides a 360-degree case view for adjudicators and allows auto-adjudication of cases. The rule-based system helps with reserve setup against claims and calculation of payable summary. With necessary checks and validations in place, the solution manages discrepancies with ease.
Brands using Newgen Platform
