Automated Claims Processing (ACP)

Automated underwriting for rapid and risk managed customer acquisition and onboarding

Virtual attendance

Increase STP cases through intelligent assessment of underwriting and documentation needs

Beyond documentation rules, filter out applications that are eligible for STP. AUM works with existing Rule Engines or even standalone.

Provides lift to STP proportions saving time and iterations

Flags non STP in customizable buckets that can guide subsequent actions

Suggests medical and financial checks along with documentations required

Virtual attendance

Reduce early claims and increase underwriting profitability

AUM learns from historical underwriting decisions, previous early claims to highlight cases that exhibit high propensity for early claims.

Marks high risk parameters in the application for manual investigation

Categorized cases that have probable non-disclosures

Identify potential early claims at the application stage itself

Virtual attendance

Enables Standardization of underwriting guidelines

Prevents inconsistencies due to human judgment variability; ensures that organizational policies are consistently implemented.

Ensures consistency and completeness of underwriting processes

Enables rapid configuration of changes to reflect changing business needs

Reduces people dependency or bottlenecks enabling experts to focus on complex cases

Virtual attendance

Ensures quick turnarounds and thorough scrutiny even during 'spike season'

AUM scales to match demands of peak season without challenges of temporarily augmenting staff and having experts overloaded.

Able to scale better than only human workforce to peak demands

Maintain consistency and TATs at all loads

Keep up scrutiny rigour even during high loads to ensure risk management

Virtual attendance

Pricing that is personalized based on risk

While underwriting, AUM module can arrive at personalized premiums aligned with the business growth appetite viz-a-viz the risk of the customer.

Premiums that are aligned to the risk rather than rigid grids

Offer customized and better prices leading to improved customer satisfaction

Augments the efforts of actuaries and in better pricing structure

Key Product Features

Automate complex underwriting cases

AUM automates cases failed by rule engines through deep learning techniques applied to complex underwriting decisions.

Deliver consistency in decision quality

Unhampered by peak time or other constraints, AUM module can delivers decisions with quality and consistency to maintain portfolio quality

Uplift in underwriting decision automation

Qualify additional cases for STP thus delivering an uplift and increased efficiency

Personalised pending requirements

Unlike current grid based pendings, AUM personalizes the requirement basis on the user risk profile

Monitor early claims at the underwriting stage

Highlights cases with early claim propensity at the application stage for further evaluation by underwriting teams

Rapid implementation reduces the time to production

Available APIs that are easy to integrate with core workflow tools without minimal intervention to the current architecture.

Deliver better customer experience & satisfaction

Through personalized response and instant decision delivery, ensure a delightful policy issuance experience

Business controls that allows to easy configurations

Business users can configure the module to define controls based on sum insured, products, BANCA channel etc

AUM module fits into existing underwriting process to deliver uplifts in STP cases, consistent scrutiny of Medical and Financial requirements, thorough risk assessment, and seamless scale up for demand spikes.

Automate complex underwriting cases that requires financial and medical underwriting

Deliver consistency and standardization in underwriting decisions

Reduce early claims by identifying them at the application stage

Personalize pricing basis on the risk and deliver better profitability

Assistive AI – autonomous AI system to continuously optimize the target strategy across different touch points

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