Accelerated Underwriting Automation for Life Insurers

This document is a guide that outlines the challenges faced by underwriting departments at life insurers and presents solutions to enhance the underwriting process through automation and artificial intelligence. It describes how data silos, inefficient processes, and limited talent hinder effective underwriting and customer satisfaction. The guide emphasizes the need for life insurers to adopt automated solutions like the Connected Underwriting Life Workbench to streamline operations, reduce costs, and improve customer experiences. Key features of the solution include real-time data ingestion, enhanced case management, and integration with third-party sources for risk assessment. The document also highlights the benefits of increased speed to quote, improved case management, and the ability to minimize risk while enhancing profitability. It provides examples of successful implementations, such as Aegon's significant increase in straight-through processing rates and Aviva France's improvement in claims settlement times, demonstrating the effectiveness of these automated solutions.