Problems Faced: Manual processing with no automated activities. High submission processing time. No end-to-end visibility into all facets of the underwriting process. No consolidated view of work-in-process to help insurers manage, underwrite, and associate price risks with greater accuracy. In ability to adapt to agility needed to rapidly adapt business processes to changes in market and regulatory conditions. What It Does: Appian Underwriting for Insurance application empowers commercial lines carriers to automate underwriting processes and eliminate manual work activities at an enterprise scale. Dynamic case management guides underwriters, ensuring compliance and providing end-to-end visibility into all facets of the underwriting process. Insurers can review the status of submissions, quotes, and renewals in real-time, as well as pinpoint the need for additional work at any point in the life cycle. This consolidated view of work-in-process also helps insurers manage, underwrite, and price risks with greater accuracy. Our solution delivers a truly reusable underwriting solution that simplifies and streamlines submissions, accommodates unique requirements by line of business, geography, or any other business factor, and delivers the agility needed to rapidly adapt business processes to changes in market and regulatory conditions.
Advantages: Scale efficiently by improving underwriter productivity and collaboration - Appian’s dynamic case management lets insurers automate underwriting processes and bridge operational and technical silos. You can leverage existing technology and eliminate redundancy with fast, easy, and secure integration to multiple enterprise and partner systems. . Distribution channel agnostic operations – Appian’s build-once and “deploy-everywhere” capabilities allow insurers to embed underwriting in solutions leveraged by agents, call centres, and other channels, including social channels and mobile devices, without channel-specific coding. Target market opportunities proactively - Appian’s flexible Build for Change technology enables insurers to create reusable solutions components. You can deploy new products, underwriting rules, operational processes, and regulations with shorter delivery times, improved product quality, and lower development costs. Simplified UX - An intuitive UX increases efficiency of underwriters.
What's Next: Our solution will integrate with ML to get the sentiments and overall analysis of the data that we would get from customer.