The FINEOS Quote & Underwrite solution delivers a unified quoting, rating, and underwriting experience for Group and Voluntary benefits. With robust automation, AI-driven analytics, and support for complex rating models, including experience rating, carriers can respond faster, rate smarter and increase precision in every proposal.
Integrated with the FINEOS AdminSuite, the FINEOS Quote & Underwrite solution is a cloud-native, component-based software solution. It automates and streamlines workflows and underwriting decision making during the quoting lifecycle, from initial proposal to policy inception and renewal processing.
Key Features of FINEOS Quote & Underwrite
- Real-time Life, Accident, and Health quoting
- Quote multiple product lines on a single proposal
- Produce multiple proposals for a single group
- Quote large groups with or without census
- Comprehensive, automated workflow
- Build, test, and implement rate revisions without relying on IT
- Award-winning rating engine
- Automate complex rating calculations
- Integrated underwriting and collaboration tools
- Comprehensive case/review management
- Out of the box, no-code configuration
- Modern APIs for digital ecosystem integration
- · Use natural language processing (NLP) to parse and standardize unstructured proposal requests (e.g., broker emails, PDF RFPs)
- Enable predictive analytics to assess rating accuracy over time and flag outliers based on claim experience or client demographics
IMPACT:
Real-time Quotes with Quick Product/Plan Setup
· Easily import RFP data to reduce setup time.
· Respond faster with user-configured features and saved templates to quickly modify proposals and generate quotes.
· Comply sooner to underwriting requests with automated document exchange.
· Smoothly convert quotes to new business through automated and integrated workflows.
· Create more personalized proposals to accommodate customers’ unique needs and preferences.
· Leverage AI-powered proposal generation to recommend optimal plan structures and streamline quote personalization.
Consolidate Information in One Place
· Eliminate duplicate entry, reduce data entry errors, and streamline handoffs between sales and underwriting.
· Introduce intelligent, rule-based quoting by the right user, with the right data, at the right time.
· Produce accurate quotes using the FINEOS rating engine or connecting to any other rating engine.
· Consistently apply underwriting standards that are in compliance.
· Perform AI-enhanced actuarial analysis to increase rating precision and proactively identify pricing anomalies.
IT Configured for Maximum Flexibility
· Out-of-the-box accelerators for deployment, including data migration tools, to reduce carrier setup requirements and ensure smooth integration with other systems.
· SaaS solution delivered either standalone or as part of a complete policy administration or end-to-end platform solution.
· Highly configurable, scalable platform to grow in line with business needs.
· APIs that matter to support transactions and customer interactions throughout the entire policy lifecycle.
FINEOS Quote & Underwrite is supported by FINEOS AdminSuite, the purpose-built solution for the Life, Accident, and Health industry and the Employee Benefits market. Designed to support evolving insurer and broker needs, the solution delivers a modern, connected experience for rating and underwriting Group and Voluntary products. Whether deployed as a full core system or adopted incrementally, FINEOS Quote & Underwrite leverages secure, scalable SaaS cloud technology and embedded AI to automate pricing, streamline workflows, and accelerate speed to market.
