As a strategic business partner, Virtusa leveraged the power of analytics to build an intuitive and holistic platform to streamline the client’s multi-dimensional underwriting process.
The platform included end-to-end collaboration across artifacts, forms, documents, local regulations, etc., enabling users to research coverage, regulatory considerations, competition, market intelligence for selected countries and products. We also facilitated a premium allocation based on exposures to ensure accurate prices are quoted to the broker.
While the validation of minimum premium remained with the local office, the data integration was conducted with third-party systems for precise tax rates. The platform could also generate a declaration page before a quote for review and acceptance by the local issuing office, capture bind-related information for master, and other local policies.
The platform also ensured users could research and estimate downloads, quote documents in the form of declaration pages for each country while uploading pre-issuance documents and local policies.