Underwriting Transformation | Tech Mahindra

Delivering Services With Optimal Efficiency

Without adequate processes, insurers can experience challenges with underwriting like manual interventions, poor communication between front-end and back-office systems, and low capacity for straight-through processing. TechM provides comprehensive solutions for underwriters to deliver their services with optimal business efficiency.

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Solution Overview

  • Bespoke rule-engines integrated with your front and back-office applications
  • User friendly front-end for processing new business applications or renewals
  • Provide quotes on demand with real-time underwriting for low to medium risks
  • Integration with third party systems, for seamless exchange of underwriting data
  • Analytics/AI/ML to offer decision support to underwriters
  • AI/ML automated underwriting across all lines of business

Solution Highlights

End-to-End Transformation

  • Manual intervention and redundant processes are minimized
  • Reduced cycle time for processing new business applications or renewals
  • Enhanced employee productivity thanks to seamless processing of low/medium complexity applications
  • Rapidly improved Net Promoter Score (NPS) from customers, agents and advisors
  • User friendly front-end, engaging customers in first instance and minimizing abandonment
  • Built-in decision support to underwriters
  • Underwriting and policy management functions

Proof Points

  • Underwriting process reduced by up to 40%
  • Overall turnaround time reduced by up to 20%
  • Underwriter/agent/advisor productivity increased +30%
  • Reduced errors and overall quality of underwriting improved

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