solution

Underwriter workbench for property and casualty insurance

Empower underwriters with intuitive, analytics-driven insights

Rapid technological changes are driving the need for digitization in insurance. Businesses need to optimize their underwriting processes to support an aging workforce, and resolve complex manual processes, multiple systems of record, and siloed automation efforts. Additionally, the proliferation of third-party services is compelling insurers to explore newer business models and innovate at scale.

Virtusa’s Underwriter Workbench solution capitalizes on advanced technologies such as AI and analytics to improve straight through processing, and reduce time to market for new products. Our solution comprises a robust, configurable repository of rules that extends across the policy life cycle, supporting multiple lines of business with ACORD-compliant data.

Underwriting services for Property and Casualty (P&C) insurers

The configurable rules repository helps underwriters upload/download application data, get analytics-based decisions and designed workflows, add/change/delete products, LOBs, and geographies, collaboratively manage cases, and utilize straight through processing models.

Rules repository

Maximize your investments by optimizing business processes before starting design. Our repository, comprising of a catalog of underwriting rules, helps customize and build optimal solutions on any technology or platform and reuse the process for faster development cycles.

Comprehensive application completion

To successfully complete applications without follow ups or corrections and eliminate redundant data entry, insurers can leverage application upload capabilities, class code wizards, configurable validation rules, and vehicle, location, and driver uploads from formatted or unformatted spreadsheets.

Stage-based case management

Improves visibility, collaboration, and work completion with configurable cases to trace multiple products, quotes, and effective dates for a single customer. Enables party management to track contacts and progress of the application/submission/policy process.

Manager portals

With 50+ parameters for pre-scoring, it offers detailed drill-down reports to build customized portals. The portals have configurable worklists and provision of manual task re-assignment to improve workload management, give insights on team performance in real time, and reassign work.
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Benefits

We help customers optimize their current environments and develop distinctive millennial solutions by leveraging our insurance domain experience and thought leadership.

The key benefits include:

  • Faster time to solution
  • Unparalleled visibility into the underwriting process
  • Expanded underwriting capabilities
  • Improved workflow management
  • Smarter decisions
Underwriter workbench solution benefits
Our partners are best-in-class innovators

We innovate with leading technology enablers to achieve better business outcomes.

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