New Business Processing Solution
Are you an insurer looking for an end-to-end new business processing solution for your life business?
The Allfinanz New Business Processing Solution is an end-to-end "order entry and processing platform" for life insurance proposals.
As our leading and premier product, Allfinanz's New Business Processing solution automates sales processes by electronically capturing application details and automating the underwriting process, while expertly handling all compliance, data-capture, documentation and workflow issues associated with ensuring the completion of all business requirements for each and every new application. For cases that cannot be automatically underwritten, additional requirements are ordered at the point of sale and detailed interview case files passed to underwriters for manual processing.
Incorporating the Underwriting Rules Engine, it is able to process the full range of protection products originating from a wide range of distribution channels.
Features
- Enforce licensing and appointment data controls;
- Run immediate electronic capturing of all application details;
- Generate initial or revised quotations on demand;
- Apply initial underwriting automation through detailed personal history interviews;
- Run powerful desktop designer tools to easily configure and deploy products, forms, rules (underwriting, compliance, and approval), reports and the various front-end "look & feels" per channel.
- Allow multi-user access from intermediaries, to end clients to agents, from either internal and external locations;
- Capture details for new and existing customers in the form of a "one time" or "interactive interview" data entries, in a multitude of ways including:
- Electronic Application Forms (for both an offline and online environment);
- Dynamically scripted, wizard based telephonic interviews;
- Paper applications captured by administrative staff;
- Isolate clean cases and cases that can be automatically accepted at standard, preferred or revised terms (with or without exclusions) through the Underwriting Rules Engine.
- Customise your own rules through the Allfinanz Underwriting Rules Engine supplied with an independent, best-of-breed underwriting rules database;
- Automate key application processes, including:
- Generation of quotes / illustrations;
- Verification of address and bank details;
- Confirmation of beneficiary and owner details;
- Capturing of doctor details and appointment date set-up;
- Stopping or restarting of incomplete interviews or applications.
- Create Instant Documentation in the form of e-mails, PDFs, XML files and Word documents which can be generated at any stage;
- Streamline producer portals, call and tele-underwriting centres and bancassurance initiatives through the Allfinanz New Business Processing Solution 'spowerful automation methodology.
Benefits
- Significantly reduce administrative costs and time associated with capturing and processing new business;
- Operate a single integrated platform allowing for multi-product, multi-channel and multi-territory distribution networks that can be accessed from anywhere
- Offer cover instantly at the point-of-sale
- Handle referred cases faster and more efficiently than ever before;
- Curb the occurrence of human error and the need to manually replicate captured information;
- Access and analyse data through an intelligent reporting system to quickly identify bottlenecks and trends so that you can take appropriate action;
- Increase and sustain a greater customer and producer satisfaction through the running of a superior methodology and platform;
- Empower Underwriters to progress cases much faster to a decision;
- Cost effectively integrate with your existing software or 3rd party systems;
- Confidently run the Allfinanz New Business Processing solution 100% of the time curbing downtime even when upgrades are installed;
- Benefit from the automatic acceptance of increasing number of cases as the application process becomes more interactive and more data is captured
- Apply the correct forms for the appropriate state every time making administration quick, easy and error free.