Industry offerings

Insurance carriers are looking to invest in and modernize their business processes and improve their operational efficiency. As part of their digital transformation efforts, the insurance providers are increasingly looking to decouple the core Policy Administration System from the workflow engines so that they can quickly incorporate changing technologies and business rules. Coforge’ Underwriting Workbench solution provides an end-to-end digital solution for the insurance for the Underwriters to access all the tools, information, and insights they need throughout the process of submission to binding and help them manage new business, renewals, and endorsements with efficiency. Underwriting workbenches enable better risk selection, pricing, and real-time quotes and underwriting with the addition of various automation capabilities.

Key Features:

Coforge’ Insurance Underwriting Workbench solution leverages CSM and FSO modules of the ServiceNow platform and comes with the following features to help underwriters stay on top of their tasks:

• Web and mobile Portal with seamless user interface for smooth navigation and reducing complexity
• Intelligent workflows based on user choices to handle the assignment of tasks optimizes underwriter productivity
• Easy to fill forms with robust data and address validations reducing manual errors
• Customizable Dashboards for each user type provide a quick analysis of status of policies and tasks
• Seamless real time integration with Policy Administration systems like Duck Creek, enterprise software, cloud and other insurance systems

Key Benefits:

Coforge’ Insurance Underwriting Workbench solution is designed for underwriters and insurance company management teams to manage their business operations with digital, mobile compatible self-service tools.

• Centralized Data Integration: The primary entry point for cleansing and enriching both structured and unstructured data is the underwriting workbenches. Underwriters can without much of a stretch access and coordinate information from entries, outsider sources, and existing information storehouses. This turns out to be especially important as underwriters get close enough to a developing volume of information connected with progressively complex dangers.
• Streamlined Data Management : A unified platform for managing various aspects of the underwriting process is provided by an underwriting workbench. This incorporates getting new business entries, dealing with recharges, and handling underwriting information. By merging these capabilities into one, underwriters can further develop proficiency and lessen manual exertion.
• Automated Workflows and Business Rules: The workbench will streamline and automate the complex underwriting work processes, while assisting with generating a superior client experience. By utilizing savvy calculations and AI abilities, underwriting workbenches can mechanize dull errands, like data entry, calculations, and document management. Policy approval workflows can be automated by underwriting workbenches, making it easier for underwriters to work together and approve policies in real time.
• Enhanced Risk Management, Audit and Compliance: Advanced tools are provided by underwriting workbenches for auditing and ensuring compliance. Underwriters are able to better comply with regulatory requirements and maintain a high level of accuracy because of this feature.

For More Information:

If you are eager to delve deeper into the capabilities of our ServiceNow solutions or have specific queries, reach out to us at:

Email: ServiceNowPresales@coforge.com

Industry Solutions

Coforge caters to various industry segments, and we leverage our domain expertise to enhance the customer experience by utilising the ServiceNow platform capability of Low code No code to design industry and customer specific solutions. We are actively working with ServiceNow and our Industry experts to develop solutions in Insurance and travel domain.

Two Insurance use cases, developed by Coforge, which adds on to the existing ServiceNow offering are highlighted below.