What is LifeSuite® Underwriting?
LifeSuite is an award-winning, web-based new business and automated underwriting system that drives straight-through automation. Carriers using LifeSuite have achieve automatic issue rates as high as 93%. LifeSuite streamlines the entire new business process from application receipt through coverage approval, providing efficient, consistent automated underwriting.
Benefits and Insights
Why use LifeSuite® Underwriting?
Key differentiators & advantages of LifeSuite® Underwriting
- Streamline New Business and Underwriting Workflow
Customers and agents experience the benefits of increased automation and enhanced workflow. Time to issue decreases, and policy acquisition costs are greatly minimized.
- Improve Consistency and Productivity
The LifeSuite rules engine ensures consistent, accurate decisions. The system automatically evaluates application data and requirements evidence, freeing staff to focus on high face amount and complex cases.
- Ease of Implementation and Integration
ACORD XML standards facilitate integration with evidence providers, and the use of web services provides seamless integration with third-party and back-office systems. LifeSuite’s high configurability allows for rapid deployment of new products and system changes.
- Increase Growth and Profit
LifeSuite provides efficiencies in new business underwriting, removing barriers that can inhibit growth and profits. New business transactions are processed more quickly, accurately and consistently. Requirements are managed and processed automatically. Many cases can be auto-approved without underwriter intervention. Decreased time to issue nesults in fewer not-taken cases.
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