Context

Client was facing challenges in meeting their needs with their homebuilt new business solution. Many applications were referred as exceptions, causing delays as well as manual processing.

Our client was looking for a solution that provided the following:

  • Integration with multiple systems and necessary data to pull the required product and rate details and state specific requirements
  • Allow capture and evaluation as data becomes available
  • Handle significant volumes and seasonal spikes
  • Improve efficiency, data accuracy and reduce exceptions

Orchestration

EXL leveraged the LDS new business and underwriting technologies to achieve the following key solution tenets:

  • Configured customized agent landing and quote pages
  • Full integration with required applications and data for relevant the product rules and rates
  • Configured business rules to calculate and display the quotes for insurance
  • Management dashboards for agents and home office personnel - in process applications, sent proposals, status
  • Business users can add, delete or modify the business rules with proper authorization
  • Exception handling and management

Outcomes

FASTER TIME TO MARKET

as new products are delivered to production quickly without vendor assistance

INCREASED PRODUCTIVITY

with business users performing configuration on easy to use platform

FASTER TURN AROUND TIME

with real-time rules driven transaction processing

SCALABILITY

handling thousands of applications per day, with increased volumes for seasonal spikes

SHORTER DELIVERY CYCLES

using pre-built underwriting rules and external data sources

UPGRADE PATH

to take advantage of new functionality and data integrations

Contact US