GroupTech Talks Podcast - Episode 005
Episode 005 | Why Group Insurance Carriers Should Eliminate Silo Workflows In this episode, Garrett Viggers, ...
FINEOS Underwrite is designed to accelerate revenue growth and ensure profitability by providing automated tools needed to quickly assess risk, make decisions and help sales turn market opportunities into profitable business.
Define benefits and set rules for product availability
FINEOS Underwrite makes it easy to define benefits and establish rules to ensure compliance and quote accuracy. Included is a code-free, user-configurable rules engine to support unique permissions, workflows and authority levels.
Seamless transition from RFP intake to decision
FINEOS Underwrite is built on a unified platform which has all of the required information for underwriting stored in one place. Information is available and accessible in real time to make decisions and to enable straight-through processing from intake through enrollment.
Decline to Quote functionality
FINEOS Underwrite helps to reduce risk and drive profitability by preventing proposals and quotes from being accepted that do not meet underwriting standards. It helps to ensure underwriting decisions are consistently enforced.
“Soft Stop” alerts
FINEOS Underwrite contains a “Soft Stop” feature to alert sales executives and brokers that additional information or underwriting approval will be needed before a binding quote can be generated. This makes it possible to provide provisional quotes until the required information is available.
Automation to improve underwriter productivity
FINEOS Underwrite includes the ability to save frequently used documents for future use. It also includes the ability to easily upload documents and it automates missing information requests.
Cloud-based, self-service solutions for brokers
FINEOS Underwrite is designed to help sales executives and brokers close sales faster by providing self-service capabilities that are available 24×7 through the cloud. Its modular design includes easily configurable interfaces to legacy systems, third party core systems and other ecosystem partners to reduce duplicate data entry and retrieve rates faster.
Drive revenue growth by helping sales executives and brokers win and retain more business through real time collaboration with underwriting. Users get a clear picture of what information is required for approval before proposals and quotes are generated. This improves quote-to-bind ratios and reduces the need for follow ups.
Reduce costs by decreasing the time wasted on back-and-forth communications between sales and underwriting. Costs are also reduced by eliminating duplicate entry and systems.
Manage risk more effectively by leveraging automated workflows to consistently enforce underwriting rules and ensure compliance.
Respond faster to change with a cloud-based, unified platform and APIs to enable integration with 3rd party insurance core systems and other digital ecosystem components.
Improve productivity with an underwriting dashboard that provides real-time access to information needed for decision making. FINEOS Underwrite helps to streamline communications between underwriting and sales with integrated messaging, notes and assumptions that are linked to proposals and quotes. Functionality has been designed to speed up decision making by sharing documents and automating the process to request missing information.
Contact us here to learn more about FINEOS Underwrite.
Episode 005 | Why Group Insurance Carriers Should Eliminate Silo Workflows In this episode, Garrett Viggers, ...
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