Efficient and speedy
underwriting and faster product launches
The client
A leading life insurer.
The business challenge
Facing market pressures to significantly increase
responsiveness to its customers, the client wanted
to develop a comprehensive New Business and Underwriting
solution that would replace the functionality
provided by the existing legacy core package.
The solution
Wipro was involved
in requirements capture, architectural design and
implementation along with business process reengineering.
The key features of the New Business solution developed
by Wipro are:
Automated workflow
management for underwriting: Business rules
are built for in underwriting (risk assessment,
auto-underwriting)
Automated requirements
management: The solution tracks miscellaneous
requirements like absence of signature on
the application form, etc. apart from medical
and financial requirements
Measurable business benefits
Better customer
service with a policy issued within days as
against 176 days previously
Saving on underwriting
effort and costs through built in rules and
intuitive recommendations
Faster product launches
by allowing new rules to be validated in a
test environment against existing policies
