Executives, underwriters, sales leaders, and actuaries are eager to take their underwriting systems to the next level but may face challenges as they explore automated underwriting options. Find out the facts about how a custom AU solution is implemented and scaled with minimal disruption to your organization and team.
RGA's Catie Muccigrosso explains why, as accelerated underwriting evolves, insurers will benefit by adjusting their underwriting manuals' traditional full underwriting guidelines to ensure appropriate use.
Automated or electronic new business and underwriting systems allow life carriers to automate the processing and underwriting of new life insurance policies.
To call traditional underwriting the elephant in the room is an understatement.
Insurance companies are assessing ways to integrate artificial intelligence (AI) and machine learning (ML) into their businesses to increase efficiency, and underwriters are a crucial part of that implementation.
Facultative cases exist on a spectrum of difficulty, and increasingly, insurers recognize that many of these substandard submissions benefit from a blend of human judgment and automated processes – a hybrid approach. RGA's Scott Sibley explains.
Driven by the need to slow or stop the spread of COVID-19, accelerated underwriting may save lives while increasing sales of life insurance.
When you have deployed an underwriting engine, that is not the end of the journey. Quite the opposite: it is just the beginning.
5 Questions to Ask When Evaluating an Automated Life Insurance Underwriting System for Your Business
Several systems are available in the market. To help you research beyond a provider’s high-level content and demos to evaluate the right system for your business, we recommend asking them the following five questions.
Underwriting engines have been around for over 20 years. Initially they were used in head offices, processing application form information keyed in by clerical staff, and avoiding the need for (expensive) underwriters spending time on the more straightforward cases.