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50% Faster Policy Issuance     |     30% Reduction in Errors     |     40% Cost Savings    |    20% Boost in Satisfaction     |     | 50% Increase in Policy Volume     |     50% Faster Policy Issuance     |     30% Reduction in Errors     |     40% Cost Savings    |    20% Boost in Satisfaction     |     | 50% Increase in Policy Volume     |     50% Faster Policy Issuance     |     30% Reduction in Errors     |     40% Cost Savings    |    20% Boost in Satisfaction     |     | 50% Increase in Policy Volume     |     50% Faster Policy Issuance     |     30% Reduction in Errors     |     40% Cost Savings    |    20% Boost in Satisfaction     |     | 50% Increase in Policy Volume     |     50% Faster Policy Issuance     |     30% Reduction in Errors     |     40% Cost Savings    |    20% Boost in Satisfaction     |     | 50% Increase in Policy Volume     |     50% Faster Policy Issuance     |     30% Reduction in Errors     |     40% Cost Savings    |    20% Boost in Satisfaction     |     | 50% Increase in Policy Volume     |    

“With Newgen’s rapid implementation of Smart Policy solutions 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

Rule-based Clause Management

Define new clauses of the policy contract through an interface, where rules-based wordings 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 on lines of business, product, or endorsement levels, allowing users to instantly update existing templates. Users can access a centralized wordings 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 batch mode using clauses, wordings, and defined templates. Enable rule-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.

Rule-based Clause Management

Define new clauses of the policy contract through an interface, where rules-based wordings 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 on lines of business, product, or endorsement levels, allowing users to instantly update existing templates. Users can access a centralized wordings 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 batch mode using clauses, wordings, and defined templates. Enable rule-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 Newgen Platform
Venerable
Max Life insurance
Explore Newgen’s other Life Insurance Solutions

Policy Issuance & Underwriting

Create seamless journeys and speed up policy issuance with underwriting decisions in minutes instead of days

Intelligent Claims Management

Optimizing claims by maximizing STP and streamlining settlement across claim types to elevate customer satisfaction and retention.

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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