Traditionally, insurance underwriting has been a labor-intensive, complex task, requiring many hours of deep manual analysis to process cases and make informed decisions. As market demands become more pressing, consumers demand almost instant results. The process must become more automated and simplified to allow underwriters to be more efficient in handling multiple cases and give the required attention to complex and fully underwritten cases.
Sapiens UnderwritingPro for Life & Pension (formerly called StoneRiver LifeSuite) is a web-based solution for automated underwriting and new business case management. It speeds up new business processes for insurance providers and their channels, offering an intuitive user interface with critical updates and task assignments provided on a real-time dashboard. UnderwritingPro enables underwriters and case managers to work on multiple cases simultaneously.
Integration with MIBs, MVRs, Rx data and evaluation services, lab data, inspections reports, attending physician statements, reinsurance, imaging systems, and many more, increase processing efficiency. Reporting tools provide real-time or scheduled access to critical case information.
UnderwritingPro is highly configurable and can be customized to fit the organization’s unique underwriting guidelines and business processes. It enables the organization to deploy new rules immediately and quickly roll out new products, without requiring expensive programming changes.