New Business and Underwriting Excellence

InsureAssist is a tablet-based tool designed for insurance sales force (planners, sales agents, brokers) to assist prospective customers in selecting the right insurance policy by helping them in determining their insurance needs, recommending products, showing illustrations, obtaining quotes, and binding policies. Targeted campaign is aimed at discovering the relationship between life events and consumer needs for pinpointing marketing windows and approaches. Patterns arising out of life events may be used to rethink customer/prospect segments and personalize products.

Infosys’ smart underwriting solution provides underwriter to extract valuable information from the public domain (unstructured data) along with internal data to get intelligent information about customers and assets for better risk assessment. This facilitates enhanced user experience, improved effectiveness in underwriting process, faster turnaround time, and reduced cost, hence leading to an improvement in productivity. Risk survey and recommendation is an offering that is bundled with collaboration and workflow-based apps to help adjusters carry out work efficiently, leading to efficiencies in risk assessment surveys, real-time assessment, and improved recommendations.

Infosys’ AI-powered underwriting solution enables life insurance underwriting to be less invasive by predicting risk classification of incoming applications using predictive analytical models. The predictive analytical model can help achieve zero-touch underwriting for higher proportion of relatively fewer complex applicants. Insights from the model can be used for triaging of incoming applications, and flagging high-risk applications and routing appropriately.