Digital. Dynamic. Dependable.
Fast-track Intelligent Underwriting for Life and Annuity Insurance
Speed up policy issuance with an automated underwriting engine, minimize abandonment and boost growth.
“The AI-led Intelligent Underwriting solution has reduced policy issuance time by 50% and increased first-pass approvals by 40%. This has enabled us to deliver faster, more accurate decisions while enhancing customer satisfaction and driving a 20% growth in new business.”
VP of Underwriting Operations, Leading US Life Insurance Provider
Learn what Newgen’s Policy Issuance & Underwriting Solution can do for you
New Policy Submission & Product Recommendations
Enable omnichannel policy initiation and proposal generation through portal, mobile, banca channels, and email. AI and ML engines analyze customer data to create detailed profiles, capturing unique preferences and risk factors. The solution extends the flexibility to initiate new business requests through the portal, capture need analysis, offer customer-specific product recommendations and generate instant quote.
Integration Ecosystem and Automated Validation
Seamlessly integrate with core system, third-party, and legacy applications, such as policy administration, CRM, etc. The system supports integration with TPAs for getting medical tests conducted. Digital KYC supports an automatic population of KYC details and document upload. Automated lifestyle profiling through integration with wearable devices and facial analysis enhances assessment accuracy.
Omnichannel Communications and Policy Kit Generation
The AI-powered customer communication platform enables personalized, need-specific communication throughout the journey through the policyholder’s preferred channel. Our configurable template library helps you achieve instant quotations and policy generation.
Intelligent Underwriting
Rules-based and AI-enabled underwriting maximizes issuance and mitigates risk. Newgen’s Marvin, our AI solution supports Gen-AI based medical report analysis. The 360-degree underwriting workbench unifies risk profiling and premium calculation, handles requirements management and generates counteroffers with revised premium or clauses.
New Policy Submission & Product Recommendations
Enable omnichannel policy initiation and proposal generation through portal, mobile, banca channels, and email. AI and ML engines analyze customer data to create detailed profiles, capturing unique preferences and risk factors. The solution extends the flexibility to initiate new business requests through the portal, capture need analysis, offer customer-specific product recommendations and generate instant quote.
Integration Ecosystem and Automated Validation
Seamlessly integrate with core system, third-party, and legacy applications, such as policy administration, CRM, etc. The system supports integration with TPAs for getting medical tests conducted. Digital KYC supports an automatic population of KYC details and document upload. Automated lifestyle profiling through integration with wearable devices and facial analysis enhances assessment accuracy.
Omnichannel Communications and Policy Kit Generation
The AI-powered customer communication platform enables personalized, need-specific communication throughout the journey through the policyholder’s preferred channel. Our configurable template library helps you achieve instant quotations and policy generation.
Intelligent Underwriting
Rules-based and AI-enabled underwriting maximizes issuance and mitigates risk. Newgen’s Marvin, our AI solution supports Gen-AI based medical report analysis. The 360-degree underwriting workbench unifies risk profiling and premium calculation, handles requirements management and generates counteroffers with revised premium or clauses.
Brands using Newgen Platform
Success Stories
Explore Newgen’s other Life & Annuity Insurance Solutions
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