New Business & Underwritting

Our solutions and services aim at creating new software or re-engineering and integrating existing applications to achieve Real-time Enterprise or Straight-Thru-Processing (STP) in the Life New Business processing cycle (Illustration to Policy issue) resulting in streamlining of the operations and improving the staff and productivity to the extent of 30%.

Key solutions and services

Rules based Rating Illustrator

We are certified implementation partners for leading Rating Illustration software vendors and have implemented rules-based new business application processing on Java platform.

The Rating Illustrator automates several of the underwriting processes and reduces the time underwriters spend on collating information. The Rating Illustrator employs industry standard XML and is Web services ready, making it accessible to systems on an intranet, extranet or the Web.

Application processing and underwriting

The primary function of the 'Application Processing' is to process new business life applications pertaining to traditional and interests sensitive products. In order to address the old system (Legacy system) problems in New Business area, a new system with a distributed architecture was developed and implemented. Some of the key features implemented are:

  • Flexibility to enter partial data and complete validation against business rules
  • Separation of business rules from main logic and easy maintenance
  • Ability to save and retrieve policy information for further processing
  • Enable users to create templates and use them while entering data
  • Ability to view the status of workflow
  • Easy to enhance business functionality whenever there is a change in business
  • Asynchronous update of backend database and removal of the manual intervention paving the way for straight-through-processing