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50% Faster Policy Issuance     |     30% Improvement in Accuracy     |     40% Cost Savings    |    20% Higher Customer Satisfaction     |     50% Increase in Policy Volume     |     50% Faster Policy Issuance     |     30% Improvement in Accuracy     |     40% Cost Savings    |    20% Higher Customer Satisfaction     |     50% Increase in Policy Volume     |     50% Faster Policy Issuance     |     30% Improvement in Accuracy     |     40% Cost Savings    |    20% Higher Customer Satisfaction     |     50% Increase in Policy Volume     |     50% Faster Policy Issuance     |     30% Improvement in Accuracy     |     40% Cost Savings    |    20% Higher Customer Satisfaction     |     50% Increase in Policy Volume     |     50% Faster Policy Issuance     |     30% Improvement in Accuracy     |     40% Cost Savings    |    20% Higher Customer Satisfaction     |     50% Increase in Policy Volume     |     50% Faster Policy Issuance     |     30% Improvement in Accuracy     |     40% Cost Savings    |    20% Higher Customer Satisfaction     |     50% Increase in Policy Volume     |    

“With quick implementation of Newgen’s Smart Policy Solution within 8 months, we have streamlined our policy servicing process. It has allowed access to 400 users across the contact center and back office.”

CIO – Policy Servicing, Life & Annuities Insurer

Learn What Newgen’s Policy Booking & Binding Solution Can Do For You

Rules-based Clause Management

Define new clauses of the policy contract through an interface, where a rules-based wording can be included, excluded, or replaced at the clause definition level. Revise clauses, wordings, and definitions with complete version control and apply various rules to handle multiple products and endorsements.

Clause & Template Library

Determine multiple template structures to lines of business, new products, or endorsements, allowing users to instantly update existing templates. Access a centralized wording and clause library for easy search and utilize maker-checker workflows to review and approve modifications in the library.

Contract Generation

Generate policy contracts on demand or in batches using clauses, wordings, and defined templates. Enable rules-based changes in policy/wording/clause by designated users.

Easy Integration

Seamlessly integrate with the core policy administration system to retrieve client, coverage and endorsement details, select a suitable template, and apply relevant wording rules based on the chosen coverages. Obtain the required metadata for policy generation and integration to support API and batch-based integration.

Rules-based Clause Management

Define new clauses of the policy contract through an interface, where a rules-based wording can be included, excluded, or replaced at the clause definition level. Revise clauses, wordings, and definitions with complete version control and apply various rules to handle multiple products and endorsements.

Clause & Template Library

Determine multiple template structures to lines of business, new products, or endorsements, allowing users to instantly update existing templates. Access a centralized wording and clause library for easy search and utilize maker-checker workflows to review and approve modifications in the library.

Contract Generation

Generate policy contracts on demand or in batches using clauses, wordings, and defined templates. Enable rules-based changes in policy/wording/clause by designated users.

Easy Integration

Seamlessly integrate with the core policy administration system to retrieve client, coverage and endorsement details, select a suitable template, and apply relevant wording rules based on the chosen coverages. Obtain the required metadata for policy generation and integration to support API and batch-based integration.

Brands Using the NewgenONE Platform
Venerable
Max Life insurance
Explore Newgen’s Other Life Insurance Solutions

Underwriting

Automate processes with AI-driven underwriting appetite checks & risk analysis. Experience real-time collaboration with ecosystem partners.

Intelligent Claims Management

Streamline policy binding process to fast-track policy generation and servicing, with configurable templates.

Find Your Winning Strategy with Newgen

See how Newgen’s low-code platform is transforming the insurance industry. Request a demo to explore our insurance-specific solutions.

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